Essays on Economic Community

Introduction

The European Union is the result of the flow of economic integration in the world. It was created in 1958 and became a powerful economic group. Within the framework of the Union, the benefits of mutual trade are established, the general economic policy is carried out, and restrictions on the movement of goods, capital, and labor are constantly removed (Krugman, Obstfeld, and Melitz, 2014). The creation of the EU was due primarily to the fact that in Western Europe after the Second World War, the contradiction between the international character of modern production and the narrow national and state ...

The journey towards the European Union (EU) integration has experienced several turnings. This section of the essay will detail some of the core turning points in the EU integration. Establishment of a Common Agricultural Policy (CAP) was a major turning point in EU integration. The Treaty of Rome defined the specific objectives of the CAP. The CAP was introduced in 1962 (Folmern.p). The establishment of the CAP was enshrined to the state of food shortages after World War II. The aim of the CAP was to build a common European Community market and to cut off tariffs on agricultural ...

Various Regional Trade Associations exist in Central and Eastern Europe for economic and trade development. However, not all former Soviet republics belong to these RTAs. One such RTA is the Eurasian Economic Community. Most have however maintained links, strong or weak, with Russia in various interlinked associations. These relationships have both positive and negative consequences. In particular, some of the associations with Russia have presented several economic challenges to the former Soviet republics. Political and religious developments have also suffered some setbacks as a result of the associations with Russia (Mitra, 2008). Continuity in links with Russia has led ...

A generation ago, Asia was a marginalized region, and the financial community was not well developed. Over the years, it has grown and today it is the center of the global economy. It is essentially the engine of the economic world. Ultimately, the growth of Asia translates to growth for the world as a whole. This economic growth has been made possible by the people and their leaders. The political aspect of a region plays a significant role in the economy since it is keen on setting up different legislative steps so as to ensure the growth of the ...