Net effects of trade blocs

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Q1. Pick a "society" and time in history you would consider that the vast majority were doing very well economically. What was the economic model followed by the leaders at that time (capitalism/socialism/communism)? How did each social group in that society fair during that time (how do you know)? What happened to that society (what made it go away and why)?

Q2. Explain: "Free-trade zones such as the EU and NAFTA lead a double life: They can promote free trade among members, but they pose serious trade obstacles for nonmembers." Do you think the net effects of trade blocs are good or bad for world trade? Why? How do the efforts of the WTO relate to these trade blocs?

Reference no: EM136740

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