Trading Blocs Performance Final
The European Union
What is a Trading bloc?
What is the EU's motto
"United in diversity"
First came to use in 2000 and signifies how Europeans have come together in the form of the EU to work for peace and prosperity, while at the same time being enriched by the continent's many different cultures, traditions, and languages
How many states are located in the EU?
Are there any objectives when speaking of the EU?
-1st and most important EU objective was the establishment of a common market
-the promotion of peace and well-being of the Unions citizens
-an area of freedom, security, and justice without internal frontiers
-sustainable development based on balanced economic growth and social justice
-a social market economy--highly competitive and aiming at full employment and social progress
-a free single market
What is the currency used in their trade
Creation of the EU
Why was the EU created?
I believe that trading blocs have a negative impact on the global economy. When trading one side is always getting the short end of the stick while the is still making money rather than losing it. Due to this I believe that different trade blocs try to limit their imports and/or exports to save money rather than lose it.