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International Trade and Finance

Notes 20.6 Key-Words

1. Comprehensive Economic and Trade Agreement : The Comprehensive Economic and Trade
Agreement (CETA) is a proposed free trade
and copyright agreement between Canada
and the European Union. Many of its
provisions on copyright are identical to
controversial ACTA, which was recently
rejected by the European Parliament; this
has raised concerns with proponents of
internet freedom and civil liberties.
2. Economic integration : Economic integration refers to trade
unification between different states by the
partial or full abolishing of customs tariffs
on trade.
20.7 Review Questions

1. What is meant by international economic cooperation? Explain.
2. Discuss microeconomic policy.
3. Write a short note on International trade.
Answers: Self-Assessment

1. (i)(c) (ii)(d) (iii)(c) (iv)(e) (v)(a)
(vi)(b) (vii)(b)
20.8 Further Readings

1. For a nontechnical discussion of this, see Martin Feldstein, “Correcting the Trade
Imbalance,” Foreign Affairs, Summer 1987.

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