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EU European Union

EU European Union. Why was it started?... To solve economic issues lots of countries had after WWII. What characteristics does it have that help it achieve its goals ?... 27 countries (including former C old War enemies ) work together to improve Europe’s economy. Negative Effects…

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EU European Union

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  1. EU European Union

  2. Why was it started?... To solve economic issues lots of countries had after WWII.

  3. What characteristics does it have that help it achieve its goals?... 27 countries (including former Cold War enemies) work together to improve Europe’s economy.

  4. Negative Effects… Loss of national economic control (currency) Loss of national political control (common laws) Loss of cultural independence Positive Effects… Use of single currency makes business more efficient Easier border crossings for business and travel Common law enforcement (civil,business, environmental)

  5. NAFTA: North American Free Trade Agreement

  6. Characteristics… • Agreement Made: This lowered the cost of trade • Legal Claims Allowed: People can go after the gov’t if it takes someone’s business or property

  7. Causes of its Creation… • Desire to reduce trade costs • Wanted to increase business investments • Hoped to help N. America be more competitive in the global market

  8. Positive Effects… • Trade tripled between the 3 countries • Trade barriers (tariffs) are gone • Investments & competitiveness went up • Exports from Canada & Mexico to the US have gone up • Negative Effects… • US jobs have gone to Mexico • 1.3 million Mexican farmers are out of work • Iran & Venezuela export less oil to the US due to trade with Canada & Mexico

  9. OPEC: Organization of Petroleum Exporting Countries

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