Question

In the US, UK and various European countries, nationalists have been railing against free trade and in particular economic integration. What are the economic and political arguments for regional economic integration?

Answer 1

Regional economic integration refers to efforts to promote free and fair trade on a regiional basis. free trade area is the most vasic form of economic cooperation.

economic and political arguments for regional economic integration.

one of te greatest barriers will alwas be distance but when states are all smoothly connected and close to on the samee page even this cost is cut drastically.

the shared currency between the states in the US and the inability of any of them to levy tariffs against on another has created an extremely prosperous economy.

It helps promote an atmosphere of friendliness among the european states. through, the degree to which the states in the EU give up their autonomy has more negative political consequences than positives.

the economic case for regional integration is straightforward. the political case for integration is also compelling. linking neighboring ecoonomies and making them increasingly dependent on each other creates incentives for political cooperation between neighboring states.

in addition, by grouping their economies together, the countries can enhance their political weight in the world. although, economic integration benefits the majority, it has its costs. whilke a set of nations as a whole may beneit significantly from a regional free trade agreement, certain groups may loose. the second impediment to integration arises form concerns over national sovereignty.