Theu.s. North American Free Trade Agreement - 1907 Words

Given the common interest in trade shared by the countries Hogwarts, The Land of Oz, Atlantis, and Wonderland, a cooperative arrangement that frees up trade among these countries is highly recommended. A high level of regional integration along the lines of the European Union is unlikely due to the differing regime types of each country. The arrangement proposed to fulfill the common interest in trade shared by these four countries is very similar NAFTA—the North American Free Trade Agreement. Purpose and Schedule of the WHOA Agreement The WHOA Agreement will create a free trade zone encompassing all of Hogwarts, The Land of Oz, Atlantis, and Wonderland. Each country will have to buy into this agreement as well as sign it. Buying into the†¦show more content†¦From a liberal perspective, the formation of the WHOA Agreement will, most importantly for each country, reduce—and hopefully eradicate—transaction costs, manage collective goods, and form due to a shared interest. Additionally, from a functionalist standpoint, â€Å"governance arrangements arise out of the basic, or functional, needs of people and states† (Karns and Mingst 40). In the case of these four countries, there are a few shared interests or needs that opening up trade would fulfill: the strengthening of each economy, providing security for the people of each country through an increased military, building infrastructure in each country, and the providing of (more) social services for the people of each country. The inter ests of each country differ slightly, but overall the interest to benefit from trade is shared. Countries’ Reasons For, and Benefits Received From Joining Into WHOA Wonderland, upon entering into this agreement, would no longer have to worry about the international demand surrounding tea. At a time where demand for tea is high, Wonderland could trade its tea, for free, to each of the three other countries for other commodities, thus diversifying its economy. With new commodities and a diversified economy, Wonderland could then trade its other commodities to international countries when the demand for tea is low, getting rid if the issue of a â€Å"vulnerable†¦enclave economy† based on the demand for tea. The Queen, in