There is general consensus among scholars, policy makers, and political leaders that the best way for African countries to develop is through regional trade. Regional integration and trading blocs have been suggested as ways that African nations can use to achieve sustained development and increase their participation in the global economy. Therefore, there is a need to evaluate the interrelationship between African trading blocs and economic growth of the African continent. This paper analyzes this link using theoretical and empirical literature reviews. The key findings are that intra-Africa trade is still low, despite the existence of numerous trading blocs, and that few of these contribute to regional trade creation. Poverty rates are still high and GDP does not seem to be positively influenced by the trading blocs. Many social, economic, and political challenges also weaken African trading blocs and their ability to promote integration and trade. Addressing these hindrances would strengthen the continent’s trading blocs and enhance their positive impact on intra-African trade and economic growth.
International trade has contributed greatly to the global economic system. Emerging market economies (EME) was a result of international trade activities. The international trade programme has encouraged many countries in the world to adopt international economic policies that promote greater trade and investment. BRICs acronym implies Brazil, Russia, India and China represent the leaders of these emerging market economies. International trade activities underpin the growth and development of these countries. This study brings round the facts and figures on the activities of international trade and how its fostered growth and development of the emerging market economies. Many theories of international trade were used to underpin these activities of the trade. These include Heckscher-Ohlin model, Rechardian model and Gravity model of international trade. The researchers’ presents some criticisms accompany by these beautiful roles play by international trade to emerging market economies and useful recommendations were provided for these economies.
BOON OR BANE: ASSESSING THE ENVIRONMENT OF CHINA’S FREE TRADE AGREEMENTS WITH OTHER NATIONS (Published)
In recent years, China has drawn a lot of attention, not only due to its rapid economic development and the WTO accession, but also due to its active attitude towards regional economic development. China, as the world’s leading producer, also looks for multiple markets to decrease the chances of any major setback of economy in future. In these lines, China has recently signed Free Trade Agreements with different nations. This study explores the impact of China’s Free Trade Agreement with other countries. APEC is the first step for this initiative, followed by bilateral trade agreements or regional trade agreements with other economies, mostly neighboring economies. China, a developing country, whose experience, would provide some insights for free trade agreements among other developing economies. This paper also explores the present situation and motives behind China’s FTA engagement through analysis of last five years and bilateral trade of China with other countries and FTA partners. A thorough analysis suggests that China has gained real benefits from FTAs which have helped China boost its exports to the world. This paper further explains that as a dominating partner in these agreements, China has obtained substantial advantage after signing these agreements. This study also suggests that China can establish win-win relationships in its targeted market by providing mutual benefits to its counterparts.