Trade Agreements (HSC SSCE Economics): Flashcards
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Preferential trade agreements
Preferential trade agreements
Give more favourable access to specific nations than others
Trade bloc
Trade bloc
Formal preferential arrangement excluding non-member countries
WTO registered trade agreements: 1990 to 2023 growth
WTO registered trade agreements: 1990 to 2023 growth
Grew from 27 (1990) to 585 (2023)
Trade diversion
Trade diversion
Imports switch from most to less efficient producer via agreement
Largest trade agreement by global economic share
Largest trade agreement by global economic share
RCEP (Regional Comprehensive Economic Partnership)
EU: member countries and population
EU: member countries and population
27 members, 450 million people
APEC forum's trading principle
APEC forum's trading principle
Non-discriminatory: same basis for members and non-members
EU Common Agricultural Policy budget proportion
EU Common Agricultural Policy budget proportion
One-third of total EU budget
AfCFTA: number of member economies
AfCFTA: number of member economies
55 countries - largest of any regional trading agreement
2022 China-US trade values (USD billions)
2022 China-US trade values (USD billions)
US imported 537 from China, China imported 154 from US