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International Business Ch.5

Review the WTO and some of the key regional trading agreements. Which do you think is more effective in promoting free trade, the global or regional cooperative agreements? Why?Based on what you have learned in Chapter 3 “Culture and Business” the opening case study on the EU in this chapter, and Chapter 5, Section 2 “Regional Economic Integration” do you think countries with distinctively different cultural, historical, and economic histories can effectively enter into a trade agreement? Select one regional trading bloc and discuss the economic motivations for that group of countries to form an agreement. Use Hofstedes cultural dimensions at http://www.geert-hofstede.com/geert_hofstede_resources.shtml. Do you think the countries in the trading bloc you selected are likely to have cross-cultural similarities or differences?

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