A(n) _____ requires a common currency, harmonization of the member countries' tax rates, and a common monetary and fiscal policy. Linking neighboring countries economically and making them interdependent（10.0分） A. increases the potential for violent conflict B. creates increased political tensions C. leads to dilution of cultures D. creates incentives to increase political cooperation as well 57 It is important to recognise that the economy of Yugoslavia differed internally from those of other Communist countries in the region, being much less centralised and making more use of market mechanisms, and was more open to international trade. The two national economies are complementary rather than duplicative. A benefit to companies of economic integration is the opportunity to centralize their production and reduce costs. Linking neighboring countries economically and making them interdependent: 经济上联系周边国家,实现相互依存: A. increases the potential for violent conflict.增加暴力冲突的可能性。. Three countries agree to remove barriers to trade between member countries and adopt a common external trade policy toward nonmembers. The European Community was established by the: Which of the following occurs when lower-cost external suppliers are replaced by higher-cost suppliers within the free trade area? Favorite Answer. 3). creates increased political tensions.C. neighboring countries and South Asian regional security. Click card to see definition TRUE Linking neighboring economies and making them increasingly dependent on each other creates incentives for political cooperation between the neighboring states and reduces the potential for violent conflict. 【单选题】Linking neighboring countries economically and making them interdependent(10.0分) 【单选题】Which of the following is a risk associated with globalization? A regional free trade agreement will benefit the world only when the amount of trade it creates exceeds the amount of trade it diverts. It is apparent that economic interdependence between Thailand and her less developed neighboring countries has increasingly become much closer over the last few decades due to the advancement of regional cooperation. Regional economic integration involves agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other. The European Union is an example of a perfect economic union. The move toward economic union raises the issue of how to make a coordinating bureaucracy accountable to the citizens of member nations. Which level of economic integration is this an example of? Interestingly, almost 60% of trade in goods is now in intermediates, i.e. Bolivia, Peru, Ecuador, Columbia, and Venezuela are all members of _____. The term can also be used to refer to trade over bodies of water. What developing countries can teach rich countries about how to respond to a pandemic October 15, 2020 9.36am EDT Maru Mormina , University of Oxford , Ifeanyi M Nsofor , George Washington University A year later Europe’s economically interconnected states were embroiled in what would later become known as the First World War. From least integrated to most integrated, the levels of economic integration are a: free trade area, a customs union, a common market, an economic union, and a political union. Use the link below to share a full-text version of this article with your friends and colleagues. A major impediment to economic integration is the loss of sovereignty it entails. Would have to relinquish control of its monetary policy to the EU. Country A and Country B entered into a free trade agreement recently. Economic Interdependence and Macro-economic Shocks Synchronization in West African Monetary Zone Member Countries 72 Consequently, the zone has experienced three launch dates. This asymmetry gives scope for economic coercion where one nation threatens to break a valuable linkage unless certain action is taken. Views expressed do not necessarily reflect the official views of the European Commission. The move toward economic union raises the issue of how to make a coordinating bureaucracy accountable to the citizens of member nations. Populations in different countries are intrinsically linked by transboundary basins and aquifers, making them interdependent, not just hydrologically but also economically and socially, because transboundary waters are used for a range of livelihood activities. Second, the countries should have had a substantial enrollment in secondary education in 1964. Linking neighboring economies and making them increasingly dependent on each other creates incentives for political cooperation between the neighboring states, and reduces the potential for violet conflict. For example: One state may have too many cars, but not enough oil; while another state has too much oil but not enough cars. They need to be "protected" by tariff barriers from unfair foreign competition. The ultimate controlling unit within the EU is the European Council. Which level of economic integration is this an example of? A. For example, many developing countries are dependent on developed countries for manufactured goods … Allowing goods to reach distant markets, a single trade route contains long-distance arteries, which may further be connected to smaller networks of commercial and noncommercial transportation routes. Second, globalisation and liberalisation have raised the potential gains from increased interdependence, which are more likely to be realised if policies are coherent. Which of the following offers a solution to this problem? Why doesn't Great Britain use the euro as its national currency? • We live in an interdependent world: our countries are dependent on each other. The lowering of barriers to trade and investment between countries is likely to lead to _____ throughout the EU. Data are in current U.S. dollars. C. They need to be "protected" by tariff barriers from unfair foreign competition. Which level of economic integration is this an example of? 13. There are two main trading blocs in Europe, the European Union and the European Free Trade Association. Thailand located at the strategic location of South East Asian region has been intensifying economic interdependence with neighbouring countries through increasing cross-border trade and people’s mobility which made possible by means of greater degree of physical connectivity in the form of economic corridors, continuous trade and investment facilitation. Which of the following is a reason why the European Union is considered an imperfect economic union? D. creates incentives to increase political cooperation as well. Which of the following is a reason why the European Union is considered an imperfect economic union? Which level of economic integration eliminates trade barriers between member countries and adopts a common external trade policy? What has been the most significant impact of NAFTA? A common market has no barriers to trade between member countries, includes a common external trade policy, and allows factors of production to move freely between members. Not all members of the union have adopted the euro. C. It is slowly progressing toward establishing a free trade zone. Economic interdependence is a relationship between two or more people, regions, nations or other entities in which each is dependent on the other for various economic variables such as goods, services, currency, financial tie-ups, etc. On a macroeconomic level, this can involve many countries being economically … Which feature of a common market differentiates it from a customs union? In theory, WTO rules should ensure that a free trade agreement results in trade diversion. Which of the following observations is not true of the euro? The economic importance of successful Australian engagement with Asia is undeniable. Three countries agree to remove barriers to trade between member countries and adopt a common external trade policy toward nonmembers. A trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. Which of the following observations pertaining to the EU's Court of Justice is correct? The world is increasingly interdependent in many ways – socially, economically and environmentally. Twenty years ago, 60% of world trade was between developed countries (North–North), 30% was between developed and developing countries (North–South) and 10% was South–South. C. leads to dilution of cultures.导致文化的稀释. • In every society we find clues to the presence of different cultures. D) creates incentives to increase political cooperation as well. A(n) _____ entails even closer economic integration and cooperation than a common market. Countries fear a reduction of their political weight in the world because of economic integration. View KDQT-chap-8-part-1.docx from BUSINESS 123 at School of Advance Business and Commerce, Faisalabad. They also agree joint control over food production, so that everybody now has enough to eat - and soon there is even surplus agricultural produce. Linking neighboring countries economically and making them interdependent: creates incentives to increase political cooperation as well. The study concluded that as economic interdependence with neighbouring states increased the likelihood of conflict did indeed decrease, but that the impact was minimal when compared to the impact of relative power capabilities. Economic interaction firstly attaches significance to domestic benefit, and economic interdependence is a by-product of the natural economy. Because of the fact that everyone benefits from economic integration, it is easy to achieve and sustain. 1.Since the end of World War II, the world has become increasingly interdependent in a number of ways. They agree to remove all barriers to the trade of goods and services. The ultimate controlling unit within the EU is the _____. 8. In a customs union, trade barriers are eliminated among member countries, and each country maintains its own external trade polices with nonmember countries. Other countries that might not be able to grow the same crops for themselves due to their weather, humidity levels, or any other reason, import these crops from Asia. At the same time, the nature and consequences of global economic interaction have become an increasingly important issue as countries are faced with greater pressure to adopt trade liberalisation policies. C. Its judges are required to act as representatives of national interests. Linking neighboring countries economically and making them interdependent: creates incentives to increase political cooperation as well. 27. Copy URL ... Over the last decades, the Chinese and Japanese economies have become more economically interdependent, a development which will, in the long run, impact the countries' political relationship. Political turmoil in several African nations has persistently impeded any meaningful progress in economic integration. It exists when two or more countries agree on terms that help them trade with each other. A key advantage of adopting the euro is that it: B. The pandemic is likely the accelerate a trend to a bipolar U.S. vs. China world. They agree to remove all barriers to the trade of goods and services. The arrival of a large Indian diaspora (collective migrant) population in the UK has deepened the country’s interconnectedness with India, both economically … _____ occurs when higher-cost external producers are replaced by lower-cost external producers within the free trade area. The establishment of the euro required participating countries to: Which feature of a customs union differentiates it from a free trade area? A(n) _____ involves the free flow of products and factors of production between member countries, the adoption of a common external trade policy, a common currency, harmonization of members' tax rates, and a common monetary and fiscal policy. But, not everybody is agree on that the interdependence is always beneficial for the countries, because in an interdependent world the countries will lose their sovereignty gradually and will create more conflicts among them. Such coercion carries risks, as disrupting even a single link … In theory, WTO rules should ensure that a free trade agreement: To ensure that a free trade agreement does not result in trade diversion, which of the following has to come within the scope of WTO? International sanctions are political and economic decisions that are part of diplomatic efforts by countries, multilateral or regional organizations against states or organizations either to protect national security interests, or to protect international law, and defend against threats to international peace and security. The European Parliament is primarily a consultative rather than legislative body. Pinker argues, “Though the relationship between America and China is far from warm, we are unlikely to declare war on them or vice versa. (5.0分) 【单选题】Totalitarianism:(6.0分) These new voices add volume and harmony to the chorus, suggesting that we seek alternatives to economic growth perhaps by measuring well-being in terms other than GDP or profit. Interdependence. After this, Country A starts importing heavy machinery from Country B. Since its establishment, the euro has had a stable trading history. Over- concentration of industries owing to comparative economic advantage will in some cases have negative environmental effects. The _____ represents the interests of member states and is clearly the ultimate controlling authority within the EU. The tremendous growth of industry around the world has created environmental problems that the world must now work together to solve. And the dependence on … C. A common external trade policy toward nonmembers. Yet, considerable development gaps seem to be widening due to stark differences in stages of development causing persistently “asymmetric relations.” For example, … C. leads to dilution of cultures. National authorities losing control over monetary policy. 2The OSG countries are: Austria, Belgium, Canada, Denmark, France, Germany, Iceland, Japan, Norway, Sweden, Switzerland, the United Kingdom, and the United States. In a(n) _____, similarities in the underlying structure of economic activity make it feasible to adopt a single currency and use a single exchange rate as an instrument of macroeconomic policy. between countries means that they are dependent on one another in some way. The _____ is primarily a consultative rather than legislative body. Therefore, China and in particular Yunnan seek to maintain mutually beneficial relations by promoting benevolence towards its downstream countries. As well, approximately 58 per cent of Australia’s two-way trade occurred with countries of the Asia region. They also agree to allow people and other factors of production to move freely across their borders. First, the Australia–China relationship is primarily one of mutually beneficial economic interdependence, not security issues. But the term gained popularity after the Cold War … The “Papers” are intended to increase awareness of the technical work being done by the staff and cover a wide spectrum of subjects. Establishment of the euro created the largest currency zone in the world, replacing the position the U.S. dollar had held for decades. On average, studies indicate that NAFTA's overall impact has been small but positive. On average, studies indicate that NAFTA's overall impact has been. Which of the following is seen as a benefit of the euro? To ensure that a free trade agreement does not result in trade diversion, which of the following has to come within the scope of WTO? Once barriers to trade and investment are removed, companies can treat a group of integrated countries like the EU as a single market and produce standardized products for it. D. creates incentives to increase political cooperation as well. Which feature of a customs union differentiates it from a free trade area? A _____ has no barriers to trade between member countries, includes a common external trade policy, and allows factors of production to move freely between members. Regional economic integration involves agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other. Linking neighboring countries economically and making them interdependent creates incentives to increase political cooperation as well. _____ occurs when high-cost domestic producers are replaced by low-cost producers within the free trade area. This burden should be shared equitably by the international community.