a) Types of trading blocs

• what are regional trading blocs?

  group of countries within a geographical region that protect themselves from imports from non-members.
• what do trading blocs do?

  sign an agreement to reduce or eliminate tariffs, quotas and other protectionist barriers among themselves. They are a form of integration.
• Example of trading blocs?

  include ​NAFTA (North America), the ​EU​, ​ASEAN (Asia) and MERCOSUR (South America).
• what are ​bilateral agreements​?

  between one single country and another single country. Some agreements are multilateral or plurilateral agreements, between at least three countries.
• What does economic integration imply?

  Some form of central government controlling a significant budget
• Why is economic integration associated with political union?

  Because it involves a central government with budget control
• What is the relationship between economic integration and political union?

  Economic integration requires a central government, indicating a political union