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प्रश्न
Answer the following question in about 30 words.
What benefits do nations get by forming trading blocs?
अति संक्षिप्त उत्तर
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उत्तर
Countries with geographical proximity, similarity and complementarities in trading items form trading blocs. These develop in response to the global organisation’s failure to speed up intra-regional trade.
The main benefits arising from trade blocs are:
- Increase intra-regional trade by removing trade tariffs within member nations.
- Have a greater say in the international market, as they have more power as a trading bloc than as individual nations.
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History of International Trade
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अध्याय 8: International Trade - Exercises [पृष्ठ ७६]
