This volume focuses on the crucial economic, political and legal aspects of global trading arrangements in the current transitional stage of the integration process. It provides an evaluation of the deepening and widening of the integration process, and places particular emphasis on the contentious issues which arise in the process of integrating previously unequal partners.Nations are contemplating taking part in various integration initiatives and schemes for a variety of purposes. They anticipate discernible improvements in the well-being of their citizens - that is, a rise in living standards resulting from closer economic integration. The international diverse group of authors begins by examining the general issues confronted by countries engaging in various levels of integration. They then go on to discuss theoretical and empirical studies of the implications of economic integration on welfare and public policy. It specifically addresses issues such as the impact on industry in participating countries and the effects of NAFTA on Mexico.

This book will be welcomed by practitioners, academics and students interested in economic integration, international economics, political science and international business.