Global, Social and Economic Groupings: Significant Beneficial Effects for Their Members
"Global social and economic groupings have significant beneficial effects for their members."
Discuss the extent to which you agree with this statement (40)
It is beneficial to us when assessing said statement to begin by considering the main reasons for the formation of social and economic groupings. First and foremost considering the 4 main types of alliances. Between Free Trade Areas and Customs Unions it is fair to say that the main goal is to restrict imports from non-member countries, in turn allowing the economies of the member countries to flourish and provide for themselves, amongst themselves, in terms of trade. Common Markets on the other hand keep import tariffs in place, instead allowing the free movement of labour and capital; this allows member countries to share human resources in order to advance their economies. Lastly Economic Unions allow tariff-free trade between members, free movement of people and goods, but also adopt common policies for all members; these often include environmental or transport policies.
In my opinion social and economic groupings have had some beneficial impacts for their members, especially when considering the major groupings of which we know today. For one the establishment of the European Union has allowed for great levels of development across its many members. The establishment of free trade within the union means that the 28 member countries can obtain and provide goods and services at greater profits, allowing economies a better chance to grow. The free movement of people also goes a long way to breaking down trade barriers, and enabling human resources to be shared between union members.
The EU also has many other benefits, for one it has allocated funds to support the underdeveloped regions of the EU. They have provided funds to support their countries to conform to the standards of the EU. Poland for instance has benefitted greatly from the investment, which has served to shift to a greater market
Discuss the extent to which you agree with this statement (40)
It is beneficial to us when assessing said statement to begin by considering the main reasons for the formation of social and economic groupings. First and foremost considering the 4 main types of alliances. Between Free Trade Areas and Customs Unions it is fair to say that the main goal is to restrict imports from non-member countries, in turn allowing the economies of the member countries to flourish and provide for themselves, amongst themselves, in terms of trade. Common Markets on the other hand keep import tariffs in place, instead allowing the free movement of labour and capital; this allows member countries to share human resources in order to advance their economies. Lastly Economic Unions allow tariff-free trade between members, free movement of people and goods, but also adopt common policies for all members; these often include environmental or transport policies.
In my opinion social and economic groupings have had some beneficial impacts for their members, especially when considering the major groupings of which we know today. For one the establishment of the European Union has allowed for great levels of development across its many members. The establishment of free trade within the union means that the 28 member countries can obtain and provide goods and services at greater profits, allowing economies a better chance to grow. The free movement of people also goes a long way to breaking down trade barriers, and enabling human resources to be shared between union members.
The EU also has many other benefits, for one it has allocated funds to support the underdeveloped regions of the EU. They have provided funds to support their countries to conform to the standards of the EU. Poland for instance has benefitted greatly from the investment, which has served to shift to a greater market