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Economic Integration: The Single European Market and the NAFTA and Their Implications for Canada-UK Bilateral Trade and Investment

In: International Strategic Management and Government Policy

Author

Listed:
  • C. L. Pass
  • Kate Prescott

Abstract

International business is increasingly being shaped by the trend towards economic integration which has engendered the establishment of large trading blocs characterised by internal free trade and common competition policies. To this extent, the world arena is now dominated by three major trading regions — the Americas (including Canada and South America), Europe (including eastern Europe) and Asia Pacific — the ‘Global Triad’ (Ohmae, 1985). However, while liberalisation is the essence of internal regional business transactions, it is arguable that greater protectionism and a more restricted legislative régime dominate in inter-triad trade and investment. This has profound implications for firms’ international strategies where the affiliation of their domestic country to a particular economic grouping has ramifications for trade and investment in non-member countries.

Suggested Citation

  • C. L. Pass & Kate Prescott, 1998. "Economic Integration: The Single European Market and the NAFTA and Their Implications for Canada-UK Bilateral Trade and Investment," Palgrave Macmillan Books, in: International Strategic Management and Government Policy, chapter 10, pages 151-178, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-26646-3_10
    DOI: 10.1007/978-1-349-26646-3_10
    as

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