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SUPRA NATIONAL ORGANIZATIONS

SUPRA NATIONAL ORGANIZATIONS. The European Union Chapter 10 Lecture 3. Levels of Economic Integration. Free Trade Area Customs Union Common Market Economic Union Political Union. Levels of Economic Integration. Free Trade Area Eliminate barriers to goods produced by member countries

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SUPRA NATIONAL ORGANIZATIONS

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  1. SUPRA NATIONAL ORGANIZATIONS The European Union Chapter 10 Lecture 3

  2. Levels of Economic Integration • Free Trade Area • Customs Union • Common Market • Economic Union • Political Union

  3. Levels of Economic Integration • Free Trade Area • Eliminate barriers to goods produced by member countries • Each country has own policies about trade with outsiders

  4. Levels of Economic Integration • Customs Union • Same as Free Trade area PLUS common policies about trade with outsiders

  5. Levels of Economic Integration • Common Market • Adds free movement of labor and capital to free movement of goods and services

  6. Levels of Economic Integration • Economic Union • Harmonizes all economic policies • Common currency • Some level of political integration

  7. Levels of Economic Integration • Political Union • Common government for all members • Eliminates separate nationality, etc.

  8. Development of the EU • Developed after World War II • Fear of German resurgence • Concerns about the Cold War and future East/West conflicts • European Coal and Steel Community • Cooperate to compete • 1951

  9. Development of the EU • Treaty of Rome (1957)—European Economic Community • Six countries initially signed • Goal of economic and political cooperation

  10. Development of the EU • Treaty of Rome (1957)—European Economic Community • Gradual movement to remove barriers to the movement of factors of production • People • Money • Raw materials • Finished goods

  11. Development of the EU • Customs Union—1968 • Increased trade within Europe from $6.8 billion in 1958 to $60 billion in 1972

  12. Development of the EU • Single European Act—1986 • Pledged to eliminate all trade barriers by 1992 • End of customs borders within EU by 1992 • Over 300 provisions to harmonize laws and regulations

  13. Development of the EU • Maastrict Treaty—1991 • Changed name to European Union • Implemented changes called for in 1986 • Euro by 1999 • Increased power of European Union/ European Parliament Now 25 nations

  14. Goal of EU • Treaty of Rome called for eventual political union • Nationalism creates barriers to this

  15. Supra National Organizations

  16. NAFTA • Created by treaty among U.S., Mexico and Canada (1993/1994) • Reduces or eliminates most barriers among the three countries • Still working out problems • Recent calls to expand throughout the Americas

  17. Other Supra National Organizations • Military (such as NATO) • Economic (such as IMF, World Bank, and regional development banks) • Trade (other regional trade blocs, OPEC, etc.) • Political (like Commonwealth)

  18. The Burning Question • Where are we headed? • Dynamic tension between integration and separation • Local • National • Regional • Global

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