Regional Economic Integration Is Replete with Political, Economic, and Cultural Danger Essay

2425 WordsMay 9, 201410 Pages
"As exemplified by The European Union (EU), regional economic integration is replete with political, economic, and cultural danger. Discuss through the use of valid, real-life examples." “The European Union is the only global actor that actively and systematically promotes the norm and practice of regional integration around the world” (Lenz, T., 2013). The regional economic integration aims to reduce costs for both consumers and producers and also helps increase the level of trade, enhance power in negotiating and gains better understanding and acceptance differences between countries in Europe region (Hardacre, 2008). However, there are few disadvantages towards the regional economic integration in European union such as inefficient policies, cultural issues and economic and political problems in Portugal, Italy, Ireland, Greece and Spain (Bohl, n.d.). In this way, regional economic integration can influence political, economic and culture towards countries in Europe region. The political regional integration involves extensive elaboration of institutional framework, policy dimensional agreements and international law issues (Estrada, M., 2013). According to Hart (2007), one of the objectives of European Union’s regional integration is to develop policies in order to reduce inequalities between regions, increase efficiency in nations and Europe region, as well as to decrease inequalities between member countries in European Union. The main advantages of regional integration in terms of political are security, bargaining power and domestic policies. Regional integration agreement benefits member countries as a basis for increasing the level of security against non-member countries, as well as improve a country’s security in relation to other member countries (University of Geneva., n.d). In the case of bargaining power, regional integration helps member

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