Trade Bloc Flashcards
1
Q
What is a trade bloc?
A
an intergovernmental agreement where barriers to trade are reduced or eliminated amongst states
2
Q
advantage of trade bloc
A
bigger markets
attracts FDIs
protection from foreign competitors
can co-operate on politcal matters
3
Q
Disadvantages
A
loss of sovereignty
interdependence
domestic markets are open to other companies from the bloc
4
Q
Case study of a trade bloc example
A
EU
5
Q
Case study of global shift and movement within a trade bloc
A
Slovakia car industry
