Page 262 - DECO503_INTERNATIONAL_TRADE_AND_FINANCE_ENGLISH

International Trade and Finance

Notes • The question which then arises is whether the existence of NAFTA are still provides benefits to
all three of its member countries? Is not the United States is seen as the "backbone" of the
sustainability of NAFTA? And is not Canada and Mexico to be highly dependent on the United
States? And whether NAFTA will evolve into regionalism at the higher levels? What is clear,
there is NAFTA and lives today. Although losses were obtained not less, but it seems that the
benefits gained by the three NAFTA countries to make enough to survive until today. NAFTA
also has great potential to develop forms of cooperation as seen over the past few years of
existence, NAFTA countries experiencing significant growth.
23.4 Key-Words

1. Disarmament : Disarmament is the act of reducing, limiting, or abolishing weapons.
Disarmament generally refers to a country's military or specific type
of weaponry. Disarmament is often taken to mean total elimination
of weapons of mass destruction, such as nuclear arms. General and
Complete Disarmament refers to the removal of all weaponry,
including conventional arms.
2. Multilateral institutions : The international institutions which set the rules of international
behaviour, for example the World Trade Organization.
23.5 Review Questions

1. What is meant by regionalism? Discuss.
2. Discuss the role of NAFTA.
3. Write a short note on India and the European Union.
Answers: Self-Assessment

1. (i)(b) (ii)(b) (iii)(d) (iv)(a)
23.6 Further Readings

1. Krimawati, Wawat. (?) NAFTA: North America Free Trade Agreement. [Accessed
18 May 2009]
2. Vogel, David. (2009) North American Free Trade Agreement. [Accessed 18 May
2009] 2009. North American Free Trade Agreement (NAFTA).
3. United States Department of Agriculture, Foreign Agricultural Service. [Accessed
June 8, 2009]

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