Regional Integration Essay

1024 words - 4 pages

Regional Integration of Mexico PaperKristina HammockMGT/448September 29, 2014Richard DoolMexico and the NAFTA Trading BlocIntroductionAccording to Wikipedia (2014), regional integration is the process in which neighboring states enter into an agreement in order to upgrade cooperation through common institutions and rules. Regional integration is an important method that in order to work requires a country's willingness and its eagerness to participate with or to become one with another country. The extent of what is shared by the separate countries with each other determines what level of integration is being operated under. Different levels of integration tend to be reliant upon predetermined specifications. The separate levels are the pros and the cons of regional integration as well as how economic development is associated with potential business opportunities for the different countries.Regional Integration for MexicoNAFTA is a regulation that was implemented in 1994 in Mexico, Canada, and the United States. The purpose was to create improved trading environments through decreasing tariff, the elimination of investment blockades, and enhancing property protection. NAFTA has been able to aid Mexico's financial system in an agreement to the United States' financial system. This in turn has helped certain sales to other countries from Mexico. Sales increased greatly in the years 1993 and 1994 to 1997. Mexican operations had an increase of roughly 44%. The progress was obtained through the tariffs that had been decreased. With the decreased tariffs, certain products have the opportunity to expand and become less expensive and more of a competition in Mexico. Demands of goods would greatly increaseRemoving of the barriers with tariffs, has investments greatly developing within Mexico. Employment is on the rise and makes for a larger GDP. This in turn causes decreasing consumer cost. Before the North American Free Trade Agreement (NAFTA) was created, product spending was of great difficulty. It was a requirement that any manufacturers obtain their support through the Mexican government. Certain rules would have to be met as well. The rise in employment has shown an increase within the income of Mexico. It has become cheaper for the United States businesses to provide merchandise to Canada, as well as Mexico. This is only as long as the supply curve continues to shift upwards. During certain years, at least ninety thousand jobs were generated within the United States itself. This occurred only because of the rise in the trade occurrences obtained from Mexico. Trade was able to create jobs in Mexico and Canada due to high demand. There has been an increase in the foreign investments in previous years. Industries such as IBM and the well-known vehicle manufacturer, Volkswagen are constantly searching to obtain employment and materials...

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