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Flashcards in trade patterns/agreements/relationships Deck (11)
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1

what are trade agreements?

when one country agrees to remove certain controls in exchnage for the other country doing the same

2

what is a bilateral trade agreement?

between two countries

3

what is a multilateral trade agreement?

between several countries

4

what makes up the global trade system?

multi and bilateral trade agreements

5

what are the main trading entities?

nafta and the eu

6

who is in nafta

canada us and mexico

7

why is the relationship between less developed and developed countries increasing?

due to the rise in emerging economies such as china
a lot of energy is needed in manufacturing etc so resources such as oil

8

what is an example of how trading relationships can result in conflict?

the banana trade war

9

how is the USA now trying to move away from its protectionist nature?

by becoming involved in further trade agreements such as the TTP TTIPs

10

why might the US be getting involved in more trade agreements?

in order to connect more with the east and west and due to emerging threat of china as an economic superpower

11

when was nafta formed?

1994