What is a trading bloc? Identify four major trading blocs and the area of the world in which the member countries are located.
What will be an ideal response?
A trading bloc is a group of nations in a particular geographic area that agree to join together to remove trade barriers with one another. The major trading blocs are:
NAFTA: United States, Canada, Mexico
EU: Europe
ASEAN: Southeast Asia
APEC: countries of the Pacific Rim, including the United States, Canada, and China
Mercosur: Latin America
CAFTA: Central America
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