Contents

• Introduction 2
• Evaluation of Specific Benefits of Economic Bloc 2
• Advantages of Economic Bloc Membership to Mexico 9
• Conclusion 12
• References 14

Description

Different nations across the globe have been able to allocate their resources effectively and gain increased benefits by establishing trade blocs. Trade or economic blocs involve group of countries singing a trade agreement, which eliminates trade barriers and reduces the tariff to a great extent providing all the nations equal opportunity to take advantage of each other’s resources and markets (Castelleno Jr., 2015). Economic bloc is considered to benefit the developing nations as it provides them an opportunity to find bigger market for the home grown and manufactured products in the other member nations of the bloc (Durotoye, 2014). Resource allocation can be done more effectively through the economic blocs, which helps all the member nation to add value to their economy (Gantz, 2009). Economic bloc has enabled different nations to improve their economy, reduce unemployment and get an access to variety of products and services at an affordable price (Castelleno Jr., 2015). This report evaluates the benefits of economic bloc. The report then discusses the benefits economic blocs have provided to Mexico.