Trade Blocs

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August 31, 2024 4 min read Definitions

Customs Union: A Comprehensive Definition and Analysis

Economics Trade Trade Blocs Free Trade Tariffs Customs Union Economic Integration

An in-depth exploration of a Customs Union, a trade bloc that allows free trade among member states but imposes a common external tariff on non-members.

August 31, 2024 4 min read Definitions

Domino Effect: Chain Reaction Phenomenon

Economics Social Sciences Domino Effect Chain Reaction Economic Policies Trade Blocs Tax Concessions

The Domino Effect refers to the tendency of one country's actions to induce similar actions in other countries. This can apply to joining trade blocs, adopting policies, or other actions that have cascading impacts.