Economics, Econometrics and Finance
8 years ago

Protectionist trade blocs threaten global free trade, warn East Asian nations

Palgrave Macmillan UK eBooks
NAFTA and the Single European Act
Kenneth Holland

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Europe and North America formed large free trade areas in 1993, causing concern in East Asia and the Pacific. Some worry that these trade blocs may harm global free trade. However, the actual danger is not as big as feared. The impact of these agreements on world trade volume and the GATT negotiations is being studied. The focus is on whether these trade blocs benefit important trading states like Japan, Australia, and others not in the blocs.