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Asian monetary cooperation

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Frame of Image cessarily have to adopt the same North American Free Trade Area
trade policy towards non-member countries.
(NAFTA) eliminated all kinds of trade barriers – or even when there is import tax, for example, they impose same rate – within the region while it maintains individual trade practices and policies towards non-member countries. Meanwhile, Customs Union
(CU) not only adopts free trade within the region but also has to set a same trade policy towards non-member countries. If country A of FTA is imposing 70% import tax on the
alcoholic beverage from non-member country D, then member country B and C will impose the same tax towards the same product from D. integrated than FTA. In this sense, CU is more
Common Market (CM), a deeper integration of economies, allows
free movement not only of final goods and services but also the movement of intermediaries, such as capital and labor. Economic Union (EU) is the ultimate stage of
1
economic integration. EU not only has to be a common market but also has to adopt same fiscal and monetary policy, technically forming single economy. North American
region has established Free Trade Area (NAFTA); European Union is, although yet to have single fiscal and monetary policy, is gearing towards Economic Union. For this
reason, Europe is yet European Economic Community (EEC) and not economic union by WTO standard. However, the region is perceived as the most integrated economy in the Although economic
world, and prefers to be called itself (Eu


Full Text
Title Asian monetary cooperation
Similar Titles
Material Type Articles
Author(English)

Kim, Hee-Yeon

Publisher

[Seoul]:KDI School of international policy and management

Date 2001
Pages 79
Subject Country Asia & Pacific(Asia and Pacific)
South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI School of Public Policy and Management

User Note

Thesis(Master)