Describe the steps in the process of economic integration

Assignment Help Business Economics

Reference no: EM133403250

Assignment:

CASE STUDY

Instructions: Read the attached case study and thereafter answer the following questions in the answer booklet Regional Integration: A tree Trade Buffer in the Caribbean cannot insulate itself from the global and economic trade system. Guyan4 for instance has aligned itself with other small states in the Caribbean region in order to better face the challenges presented by the liberalized global economy. An economically stronger and more unified Caribbean Community is a necessary mechanism to equip the region to face and engage with the rapidly changing global, economic, trading system. CARICOM states have to trade and engage economically in a global system that is dominated by some very large economies and corporations which are the centers of capital, and investment! production and distribution of goods and services. Engagement in the world economy requires both resources to fend off threats and to exploit opportunities and small states lack the repertoire of resources to do both effectively.

CARICOM has proven the MARIM of united we stand and divided we fall on numerous with regards to the integration movement. The closer integration of countries into the global trading system through greater liberalization and openness is expected to increase the share of international trade in domestic economic activity. It does so by expanding the size of the traded good sectors relative to the rest of the economy and by shifting resources from protecting import-substituting industries, thereby lowering production, in such industries to export-oriented industries.

The Global Strategy and world view of development in the 21$ century is to deepen economic integration, widen the economic base of the community and negotiate together to participate in other regional and multilateral-based frameworks. It is now imperative for Caribbean countries to foster greater ties through regional integration as a result of globalization and liberalization, the debilitating forces of smallness and vulnerability, slow internal development, limited opportunities, and growth, and continued outward migration. Unemployment! social restlessness and lack of social cohesion and obstacles among people to the natural development of markets and business activity. Ertractfrom Caribbean Dialogue, Vol 14 Nos. 3&4, 2009 by Lizanne Michelk Aching

l. What is economic integration?

2. Describe the steps in the process of economic integration.

3. What are the major barriers to economic integration in the Caribbean?

4. What are the "threats" of globalization alluded to in the article that the Caribbean states must ward off?

Reference no: EM133403250

Questions Cloud

Explain about the pathophysiology of kawasaki disease : How would I explain and teach my patient about the pathophysiology of Kawasaki Disease of this medical problem using non-medical terminology?

Why the gender pay gap is everyone problem : Why the gender pay gap is everyone's problem and why does it interests you?

What ways did rinda leverage her network to find a job : In what ways did Rinda leverage her network to find a job? what else could she have done?

Describe various aspects of perceptions of fairness : Your book describes various aspects of perceptions of fairness and their influence on motivation. Use those terms to explain the findings in this case.

Describe the steps in the process of economic integration : Describe the steps in the process of economic integration. What are the major barriers to economic integration in the Caribbean?

Discuss merits of internal versus external recruitment : In addition, share how an organization can improve the quality of their interviewing so that interviews provide valid information?

What are the next one to two months as far as food cost : What are you likely to see over the next one to two months as far as food cost? Is there anything you can do to help?

What is the proper stance for social workers : What is the proper stance for social workers to take on the deinstitutionalization movement as a whole?

What is the incidence of the tax in the short run : What is the long-run incidence? How would your analysis change if hotels/motels in the suburbs were perfect substitutes for those in Malaise?

User Account

All Pages