[Full Picture] Advantages Disadvantages and Comparisons EU and NAFTA

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Advantages Disadvantages and Comparisons EU and NAFTA

Source: lawteacher.net

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Article summary:

1. The essay compares the competition strategy and progress between the European Union (EU) and the North American Free Trade Agreement (NAFTA).

2. Both unions aim to promote free trade through the liberalization of trade rules, removal of business barriers, and imposition of a common tariff for non-member countries.

3. Disadvantages of NAFTA and EU include complicated policies that restrict other nations from pursuing their interests, decreased rights for citizens, and negative impacts on job fields and wages.

Article analysis:

The article compares the progress of competition strategy between the European Union (EU) and the North American Free Trade Agreement (NAFTA). It highlights the similarities and differences between the two unions, including their focus on liberalizing trade, removing business barriers, and imposing a common tariff to non-member countries. The EU is noted for its standardized competition laws and supranational institutions, while NAFTA lacks these features. The advantages of both unions include promoting free trade through economic union and enhancing conditions of equal competition. However, there are also disadvantages such as complicated policies that block third world countries from participating in trade negotiations, decreased rights for citizens, and negative impacts on job fields and wages. The article suggests that both unions should work to improve their policies to promote democracy for all and liberalize trade sectors to benefit not only member parties but also those outside. Overall, the article provides a balanced analysis of the advantages and disadvantages of EU and NAFTA.

Topics for further research:

Comparison of trade policies between EU and NAFTA Supranational institutions in the European Union Impact of EU and NAFTA on job fields and wages Third world countries and trade negotiations with EU and NAFTA Democratization and trade liberalization in EU and NAFTA Advantages and disadvantages of economic unions in global trade