Text B, Paragraph 9
Overall, Cambodia is hoping that the CCFTA will increase net exports, attract investments, and create employment opportunities. However, many in developed Western economies fear that China may insist on Cambodia moving away from trade links with other large economies and instead continue deepening economic integration with China.
Define the term economic integration indicated in bold (Text B, Paragraph 9).
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Text D, Paragraph 1
During recent trade discussions, several South American countries have expressed interest in forming a customs union. This proposal is being examined as a way to improve economic cooperation between member states.
Define the term customs union as indicated in bold (Text D, Paragraph 1).
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Text E, Paragraph 1
Ongoing talks in Europe are focused on the development of a common market among new and existing countries in the EU. These talks aim to strengthen economic ties and address challenges in cross-border trade and investment.
Define the term common market as indicated in bold (Text E, Paragraph 1).
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Text D, Paragraph 2
There are growing concerns about the effects of new regional agreements on trade diversion. The impact of these agreements on existing trade patterns is still being evaluated by economic analysts.
Define the term trade diversion as indicated in bold (Text D, Paragraph 2).
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Text A, Paragraph 3
A recent study has highlighted the potential benefits of a monetary union for several East African countries. Ongoing research is expected to provide more insights into the economic impacts of such an arrangement.
State two advantages of monetary union as found in bold (Text A, Paragraph 3).
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Text C, Paragraph 3
Trade volume in Vietnam has increased by 15% since the formation of a regional economic agreement. Further assessments are underway to understand the long-term benefits of these new arrangements.
Calculate the new trade volume if trade was $200 billion annually before the regional economic agreement indicated in (Text C, Paragraph 3).
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Text E, Paragraph 3
Critics of regional trade blocs argue that they can sometimes create more issues than they solve. Discussions about the long-term effects of such agreements continue across different industries and countries.
State two disadvantages of trade blocs as found in (Text E, Paragraph 3).
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