Regional Integration

What is one of the main benefits of forming trading blocs for Caribbean countries

• Isolation from global markets

• Maximizing benefits of globalization

• Reducing competition

• Limiting trade with other countries

How does globalization affect Caribbean economies?

• It decreases competition

• It encourages the development of more efficient businesses

• It isolates Caribbean markets

• It only promotes tourism

What does the phrase "strength in numbers" imply for Caribbean integration?

• Individual countries should negotiate seperaterly

• Countries should integrate for a stronger collective voice

• Each country must maintain its sovereignty

• Integration is unnecessary in the global market

What major challenges does the Caribbean face due to international recession?

• Increased independence from foreign trade

• Greater reliance on regional tourism

• Economic schocks impacting trade and tourism

• Strengthening local economies

Which of the following is a governance issue within Caricom?

• All decisions are binding

• Lack of enforcement of mechanisms of decisions

• Rapid decision making process

• Strong cooperation among member states

What is a consequence of Caricom's requirement for unanimous decision making?

• Potential for important initiatives to be blocked

• Increased effectiveness in decision making

• Easire implementatiton of regional policies

• Strengthened regional unity

Why do some Caribbean countries hesitate to support regional institution?

• They lack interest in integration

• They have sufficient local resources

• THey prioritize national interest over regional benefits

• They see no challenges in global markets

What is a significant barrier ti trade between Caribbean narions?

• Similar goods being produced

• High level of regional cooperation

• Strong regional identity

• Shared currency among countries

How does the lack of a single currency hinder regional integration?

• It simplifies trade processes

• It encourages local market developement

• It promotes economic stability

• It complicates travel and trade

What is a consequence of equal resource distribution among Caricom countries?

• All countries benefit equally from integration

• Stronger unity among member states

• Less developed countries are less willing to participate

• Greater benefits for all citizens