3.2.1.3 International Trade And Access To Markets

Question 1

What is a Trade bloc?

Answer 1

A group of countries within one region which protect themselves from imports from non-members

Question 2

Example of a trade bloc

Answer 2

EU
NAFTA

Question 3

What is trade liberalisation?

Answer 3

The freeing of trade from protectionist measures.

Question 4

What are the different types of trade blocs?

Question 5

What are the levels of integration?

Answer 5

Common market
Customs union
Free trade area
Preferential trade area

Question 6

What is common market?

Answer 6

Occurs when member countries trade freely
All barriers are removed

Question 7

What is Customs Union?

Answer 7

Removal of tariff barriers between members
External tariffs against non members- members may negotiate external tariffs against non-members (e.g other trading blocs)

Question 8

What is a Free Trade Area?

Answer 8

Created when two or more countries in a region agree to reduce or eliminate barriers to trade on all goods coming from other members

Question 9

What is Preferential Trade Area?

Answer 9

They exist when countries within a geographical region agree to reduce or elimate tariffs barriers on selected goods imported from other members of the area

Question 10

What is Trans Pacific partnership?

Answer 10

Involved free trade between USA and countries in Asia and South America
Bad- negations lack transparency

Question 11

What is transatlantic and investment partnerships?

Answer 11

Free trade agreement negotiations
Aims to reduce barriers to trade for big businesses
Bad- gives more power to TNC

Question 12

What is China’s role in trade?

Answer 12

Member of G20 group
Group of 77 and China was established
Aims
-represent interests of worlds poorest countries
-help development in these countries
Reduce poverty and disease

China had a important role in this

Question 13

What is Lain Americas role in trade?

Answer 13

Mercosur

Pacific Alliance