What are the disadvantages of being in a trade bloc?
I am interested in understanding the potential downsides of being part of a trade bloc. I want to know the disadvantages it might bring to the member countries in terms of economic, political, and social aspects.
What are the benefits of being in a trade block?
Could you elaborate on the advantages of participating in a trade block? How does it enhance economic cooperation and stability among member nations? Are there specific benefits for businesses and consumers within these blocs? Additionally, how does it impact global trade dynamics and potentially foster economic growth?