4.1.5 Trading blocs - Global trading blocs

Question 1

What are the 3 trading blocs you should know of?

Answer 1

EU

ASEAN

NAFTA -> Changed to USMCA

Question 2

EU. - what type of market?

Answer 2

A single market between 27 countries.

• 19 of these countries have adopted to have the EURO as their currency (so stabilise their currency) (come back to this once covered exchange rates.

Question 3

ASEAN

Answer 3

Association of the southeast Asia Nations

A Common Market

Question 4

Nafta (USMCA)

Answer 4

USA, MEXICO, CANADA (USMCA)
Free trade agreement