The United Nations (UN) was founded immediately after the Second World War in 1945. The international organization was initially established by 51 country committed to developing friendly relations among member states upholding international peace and security, promoting social progress, promoting human rights, and improving living standards. Due to UN’s unique international character and the power within its founding charter, this organization can take action on a variety of issues. The organization can also provide a forum for its expansive member states so that they can express their views, through the Security Council, the economic and social council, the UN’s general assembly among other bodies and committees.
The European Union (EU) is a union of 28 member states based on economic and political issues.
The Union traces its origin from the European Coal and Steel Community (ECSC), which was formed by the Inner 6 States in 1951 and 1958 correspondingly. Later, the Maastricht Treaty established the EU under the prevailing name in 1993. Afterward, a major amendment to the constitutional basis of the EU as well as, the treaty of Lisbon came into implementation in 2009. The member states are located in Europe; the EU operates through supranational independent institutions and intergovernmental negotiated decisions. Notably, institutions within EU include the EU council, European commission, European council, European central bank, EU court of Justice, European Central bank, EU parliament, and the court of auditors. Brussels is the EU’s de facto capital. The European parliament according to Merwan, Schure and Gillis (531) is elected after every 5 years.
The North American Free Trade Agreement (NAFTA) was made between Canada, Mexico and States in January 1 1994. NAFTA established the largest free trade area in the world that links 450 million people producing goods and services amounting to in excess of $17 trillions. NAFTA implementation brought instant elimination of trade tariffs on more that a half of US imports from Mexico and more than a third Mexico Imports from U.S. In a span of ten years of NAFTA implementation, all Mexico- U.S. tariffs would be exempted except some agricultural exports to Mexico there were phased out in 15 years. Almost all U.S – Canada trade have been made duty free. This organization also seeks to all non-tariff trade barriers as well as protecting the intellectual property rights.
The North Atlantic Treaty Organization (NATO) is an international alliance of 28 member States from Europe and North America i.e. Canada, U.S., Turkey and 25 European countries. The alliance was established on 4th April 1949 at the signing of the North Atlantic Treaty. In regard to the treaty, if an armed attacked arise against a member State, it should be considered as an attack against the entire members and all members shall join up to assist the attacked member with their armed forces where necessary. Arguably, all members’ states own militias apart from Iceland which lack typical army. UK, France, and U.S. are Nuclear weapons states.
Lahrech A, & Sylwester K. The impact of NAFTA on North American stock market linkages Original Research Article. The North American Journal of Economics and Finance, Volume 25, August 2013, Pages 94-108
Merwan H., Schure P, & Gillis M. A positive analysis of deposit insurance provision: Regulatory competition among European Union countries Original Research Article. Journal of Financial Stability, Volume 9, Issue 4, December 2013, Pages 530-544
Michta A. What Next for NATO? Original Research Article. Orbis, Volume 51, Issue 1, Winter 2007, Pages 155-164
NAFTA website http://www.ustr.gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta
United Nations website. http://www.un.org/en/aboutun/index.shtml