Running Head ECONOMICS

The Potential Drawbacks of Regional Economic Integration

The Potential Drawbacks of Regional Economic Integration

Regional economic integration requires cooperation of individual countries to make better use of their resources by creating an enabling environment for effective business activities simultaneously in the markets of several countries (regional markets). Such cooperation of several states leads to the creation of separate units, and European Union (EU) is one of its examples. The European Union was formed as a framework of cooperation between states of different character than is the case with traditional international organizations; it was not equipped with a legal personality (Nicolas, 2011, ...