Regional Trade Blocs
Regional trade blocs have emerged to facilitate trade among countries with geographical proximity, similar trading items, and complementary economies, while also aiming to reduce trade restrictions in the developing world. Currently, there are around 120 regional trade blocs, accounting for 52 percent of global trade. These blocs have developed in response to the slow progress of global organizations in promoting intra-regional trade. While regional blocs eliminate trade tariffs among member nations and promote free trade, future trade between different blocs may face challenges.
Chapter 8 International Trade| Class 12 Geography Notes
Class 12 Geography Notes: International Trade is an important topic in CBSE Class 12 Geography. These notes are created by subject experts to help students understand the topic easily. These notes cover important concepts like the significance of international trade, different types of trade, and concerns related to it.
With these notes, students can prepare well for their exams and improve their understanding of the subject.
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