Encyclopedia > Trade bloc

  Article Content

Trade bloc

A trade bloc is a large free trade zone or near-free trade zone formed by one or more tax, tariff and trade agreements. Typically trade pacts that define such a bloc specify formal adjudication bodies, e.g. NAFTA trade panels. This may include even a parliament, as in the EU.

George Orwell predicted that trade blocs would evolve into continent-spanning empires with ever-changing alliances. The eastward expansion of the EU and use of the Euro, southern expansion of NAFTA into the FTAA, and increasing co-operation in Asia would seem to validate this prediction.

All Wikipedia text is available under the terms of the GNU Free Documentation License

  Search Encyclopedia

Search over one million articles, find something about almost anything!
  Featured Article
July 24

... actor 1947 - Robert Hays[?], actor 1949 - Michael Richards, comedian 1951 - Lynda Carter[?], actress 1952 - Gus Van Sant, film director 1957 - Pam Tillis[?], country ...