17 terms

International Business Ch 9


Terms in this set (...)

free trade area
the simplest and most common level of regional integration is known as...
common fiscal and monetary policies
members of an economic union have...
common markets
allow the free movement of products, services, and factors of production between member countries
trade diversion
refers to a nation in an economic bloc gradually ceasing to trade with non-member nations
customs union
includes only free movement of products and services
customs union
differentiates itself from the free trade area due to the common external tariffs for the member countries
canada, mexico, and the US constitute...
argentina, brazil, paraguay, uruguay, and venezuela are members of
Andean Community
Bolivia, Columbia, Ecuador, and Peru are members of
Association of Southeast Asian Nations
ASEAN stands for...
ASEAN- countries
Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam are known as...
APEC (Asia Pacific Economic Cooperation)
was established by pacific rim countries including Australia, Canada, Chile, China, Japan, Mexico, Russia, and the US
CER (closer economic relations agreement)
Australia and New Zealand
global free trade
economic fortress refers to more within-bloc trade and less between bloc trade, which reduces...
emerging markets
are former developing economies that have achieved substantial industrialization, modernization, and rapid economic growth since the 1980s
Bureaucracy and red tape
in emerging economies deter firms from these countries from participating in the global economy
has provided many opportunities for foreign firms to enter transition economies by purchasing former state enterprises