Asian RTAs Essay

Document Type:Essay

Subject Area:Business

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The fact that market is the key determinant factor has adversely affected cooperation among members of the RTAs. Almost every nation and in particular China and Japan want to first consolidate their national identities and grow their national economy before being largely involved in the RTAs. As a result, many of the RTAs have led to the formation of alignments with some minor countries favoring China while others favoring Japan and leading to the division of loyalty and limited cooperation. Secondly, Asian RTAs lacks a customs union, single market and common currency that are present in other region’s RTAs particularly the RTAs of Europe. Many of the countries in Asia such as Japan and China want to strengthen their own currencies.

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For example, history plays a major role in any trade agreement that South Korea and North Korea enter because of the hostility that has been built from historical years. The two countries are greatly suspicious of the true motives of each other and that will adversely limit cooperation between the counties under the trade agreement. The issue of being a saint has generated debates among a number of Christian denominations with each denomination arguing that it has the best understanding of what it means to be a saint. The title of saint is largely associated with the Catholic church who perceive a saint as a person who has lived a good and holy life just like the one lived by Christ and who has the powers of bringing miracles when he or has died (Colletti, 2013).

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