国际商务 查尔斯希尔IMChapter09.docx

国际商务 查尔斯希尔IMChapter09.docx

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国际商务查尔斯希尔IMChapter09

RegionalEconomicIntegration

Learningobjectives

∙Defineregionaleconomicintegrationandpresentthedifferentlevelsofeconomicintegration.

∙Discussthepoliticalandeconomiccaseforregionalintegrationandimpedimentstointegration.

∙Discussthecaseagainstregionaleconomicintegration.

∙DescribeandtheRegionaleconomicintegrationinEurope.TheevolutionoftheEuropeanUnion,theestablishmentoftheEuroandthefutureoftheEuropeanUnion.

∙DiscussregionaleconomicintegrationintheAmericas.

∙DiscussRegionaleconomicintegrationinAsiaandAfrica.

Thischapterdiscussesregionaleconomicintegration,agreementsamongcountrieswithinageographicregiontoachieveeconomicgainsfromthefreeflowoftradeandinvestmentamongthemselves.

Anumberoflevelsofeconomicintegrationarepossibleintheory.Inorderofincreasingintegration,theyincludefreetradearea,customsunion,commonmarket,economicunion,andfullpoliticalunion.

Integrationisnoteasilyachievedorsustained.Althoughintegrationbringsbenefitstothemajority,itisneverwithoutcostsfortheminority.Concernsoversovereigntyoftensloworstopintegrationattempts.

ThecreationofsinglemarketsintheEUandNorthAmericameansthatmanymarketsthatwereformerlyprotectedfromforeigncompetitionarenowmoreopen.Thiscreatesmajorinvestmentandexportopportunitiesforfirmswithinandoutsidetheseregions.

Thefreemovementofgoodsacrossborders,theharmonizationofproductstandards,andthesimplificationoftaxregimesmakeitpossibleforfirmsbasedinafreetradeareatorealizepotentiallyenormouscosteconomiesbycentralizingproductioninthoselocationswithintheareawherethemixoffactorcostsandskillsisoptimal.

OUTLINEOFCHAPTER8:

REGIONALECONOMICINTEGRATION

OpeningCase:

CreatingaSingleEuropeanMarketinFinancialServices

Introduction

LevelsofEconomicIntegration

FreeTradeArea/CustomsUnion/

CommonMarket/EconomicUnion/PoliticalUnion

TheCaseforRegionalIntegration

TheEconomicCaseforIntegration

ThePoliticalCaseforIntegration

ImpedimentstoIntegration

TheCaseagainstRegionalIntegration.

RegionalEconomicIntegrationinEurope

EvolutionoftheEuropeanUnion

PoliticalStructureoftheEuropeanUnion

ManagementFocus:

TheEuroCommissionandMediaIndustryMergers

TheSingleEuropeanAct/TheEstablishmentoftheEuro

EnlargementoftheEuropeanUnion

RegionalEconomicIntegrationoftheAmericas

TheNorthAmericanFreeTradeAgreement

TheAndeanPact/MERCOSUR

CentralAmericanCommonMarketandCARICOM

FreeTradeAreaoftheAmericas

RegionalEconomicIntegrationElsewhere

AssociationofSoutheastAsianNations

AsiaPacificEconomicCooperation

RegionalTradeBlocksinAfrica

FocusonManagerialImplications

ClosingCase:

CarPriceDifferentialsintheEuropeanUnion

TEACHINGSUGGESTIONS

Youmightbeginthisclasswithadiscussionaboutwhetherregionaleconomicintegrationisgoodandvaluableorwhetheritencouragesthedevelopednationstotradewitheachotherandleavesthedevelopingnationsoutinthecold,exceptforcommodities.ThenyoumightaskwhytheclassthinksSwitzerlandchosenottojointheEU,andwhyGreatBritain,DenmarkandSwedenchosenottoparticipateintheeurocurrency.

TRANSITION

TheideaofhowdifficultthesearrangementscanbetonegotiatecanbeusedtotransitionintotheOpeningCase.WhyareItalianbankersnotexcitedaboutthebusinessprospectsthatcouldawaittheminotherEUcountries?

LECTUREOUTLINEFORCHAPTER

ThisteachingoutlinefollowsthePowerPointpresentationprovidedalongwiththisinstructor’smanual.ThePPTslidesincludeextensivenotesthatareprintableunderview—notespage.Whatfollowsisasummary.

Slide9-3Introduction

AnexampleofregionaleconomicintegrationisfoundintheEU.BarrierstocrossbordertradeamongcountriesoftheEuropeanUnionwereremovedin1993byTheSingleEuropeanAct.In1999,whenmostoftheEUstatesadoptedtheEuro,pricecomparisonacrossnationalborderswasmadeeasier.Theexpectationwaswithincreasedcompetition（duetoloweringoftradebarriers）,priceswouldfall.Intheautoindustry,however,significantvariancesremainedinthepriceofautomobiles.TheprimaryreasonforpricedifferentialsintheautoindustryistheBlocexemptionclausethatallowedautomakerstodictatewheredealersshouldbelocated,wheretheycansellandhowmanybrands.Thispracticecreatedrestrictedcompetitionandledtodifferentialpricing.

Slides9-4,9-5,9-6LevelsofEconomicIntegration

FreeTradeArea,CustomsUnion,CommonMarket,EconomicUnion,PoliticalUnion

Slide9-7EconomicCaseforIntegration

Slide9-8ThePoliticalCaseforIntegration

Slide9-9ImpedimentstoIntegration

ThepassageofNAFTAintheU.S.offersexamplesofimpediments,especiallyfromthetextileindustry.

Slide9-10TheCaseAgainstRegionalEconomicIntegration

Slide9-11RegionalEconomicIntegrationinEurope

EuropeanUnionandEuropeanFreeTradeAssociation

Slide9-12EvolutionoftheEuropeanUnion

EuropeanCoalandSteelCommunity,TheTreatyofRome（1957）,TheTreatyofMaastricht（1994）

Slide9-13EuropeanUnionMembers2005

Slides9-14,9-15PoliticalStructureoftheEuropeanUnion

EuropeanCouncilandEuropeanCommission

Slide9-16,9-17,9-18TheSingleEuropeanAct

TheSingleEuropeanActcalledfortheremovalofbordercontrols,mutualrecognitionofstandards,openpublicprocurement,abarrierfreefinancialservicesindustry,nocurrencyexchangecontrols,freeandopenfreighttransport,andfreerandmoreopencompetition.

Slide9-19TheEuro:

BenefitsandCosts

Slides9-20,9-21EnlargementoftheEuropeanUnion

Slide9-22,9-23NorthAmericanFreeTradeAgreement（NAFTA）

Slide9-24TheCaseForandAgainstNAFTA

ThissitehasanicesetofargumentsforandagainstNAFTA.http:

//www.business.uca.edu/~isaltz/freetrad.html

Slides9-25,9-26NAFTAResults

Slide9-27TheAndeanCommunity（ANCOM）

Slide9-28MERCOSUR

InsomeindustriesMERCOSURistradedivertingratherthantradecreating,andlocalfirmsareinvestinginindustriesthatarenotcompetitiveonaworldwidebasis.

Slide9-29OtherHemisphereAssociations

Slide9-30AssociationofSoutheastAsianNations（ASEAN）

Slide9-31ASEANCountries

Slide9-32AsiaPacific

Slide9-33APECCountries

Slide9-34RegionalTradeBlocksinAfrica

Slide9-35ImplicationsofManagers

Slide9-36LookingAheadtoChapter10

TheForeignExchangeMarket

ANOTHERPERSPECTIVE

Thesearecommentsorillustrationsofmaterialinthetextthatbuildfromunusualapplicationsorotherviewsofthemajorconcepts.Youmayfindthemusefultostimulatediscussionortohelpbringaconcepthometoyourstudents.

EconomicIntegrationandYourCareerMoves

Thinkabouthoweconomicintegrationmightinfluenceyourcareer.First,itmakescountry-to-countrymoveswithinEuroperelativelyeasyforEuropeans.Sure,youstillhavetopackupthehouse,findanewhome,andgetyourkidsintogoodschools,butnopaperwork,visaorworkpermitarenecessary.ForanAmericancitizen,amovetoEuropeorfromoneEuropeancountrytoanotherwouldrequireaworkpermitandpossiblyavisa.Fromahumanresourcespointofview,theEuropeancitizen’smobilitywithinEuropemightbeseenasanadvantagefortheEuropean.

RomasintheEU:

OpenBordersforGypsies?

Withthe2004entryof10EasternEuropeannationsintotheEU,the15oldermembersareworriedaboutcheaplaborfloodingtheireconomies,somanyoftheEUmembershaveestablishedtemporaryentrybarriersfornationalsofthenewmemberstates.FranceseemsespeciallyafraidofPolishplumbers,sothePolishgovernmentisusingtheimageofahandsomePolishplumberinitstouristadvertisements,inparodyoftheFrenchfear.

IntheCzechRepublic,SlovakiaandHungarylive1.5milliongypsies,Romas,whosenomadictraditionsraisefears,especiallyincountrieswherethewelfaresystemiseasilyaccessible.

ThatfearisbasedontheassumptionthattheRomacanmoveandcannotbeintegrated.Thelikelihoodisthattheyaresopoorthattheycannotmove.InEasternSlovakia,neartheUkrainianborder,theyliveinshantytownswithoutrunningwater.Unemploymentisatnearly100%.Infact,itistheRomawhomaywellsufferfrommembershipintheEU,viabraindrain—theywilllosetheirbestmindstothemoredevelopedEUeconomies.

TheNAFTAArbitrationPanelandU.S.Courts

Oneofthemostdifficultareasofregionaleconomicintegrationistheintegrationoflegalsystems.TheNAFTAagreementestablishedathree-judgepanelthatstandsapartfromitsmemberstatesjudicialsystemstohearNAFTAarbitrationclaims.TheNAFTAArbitrationPanelgivescompaniesinvolvedincomplaintsinaforeigncountrytheconfidencethattheirgrievancewillbeheardwithreducedpossibilityofbias.Tothatend,thehearingsaresecret.BecausethesejudgesactoutsidetheauthorityoftheU.S.,Canadian,andMexicancourtsystems,theyalsogiveforeigncompaniesprotectionfromthelocalcourts.

ANSWERSTOCRITICALDISCUSSIONQUESTIONSFORCHAPTER9

QUESTION1:

NAFTAhasproducedsignificantbenefitsfortheCanadian,MexicanandUSeconomy.”Discuss.

ANSWER1:

NAFTA’simpacthasbeensmallandpositiveoverall.Therehavebeensectoradjustmentsthathavebeenquitepainfulforindividualtownsandworkers（textileindustry）,butoveralltheimpactofNAFTAseemstohavebeenpositive.MexicohasgainedalotfromNAFTA,andtheU.S.hasaswell,inthatitnowhasastable,democraticneighbor.TradeamongtheNAFTAm