Trade Blocs and the Future of Global Marketing
The study is a review of trade blocs in global marketing. These blocs are in the form of trade groups, associations, union, etc, that are formed based on regional as well as continental background to protect their various interest in the world market. Their major objective is to remove all forms of barriers and tariffs that hinder the flow of goods and services globally. But some of these trade blocs are yet to achieve their objectives. The study indicates that there are two opposing views regarding the direction of global trade and how trade blocs will be form in the future. They are the traditional industrialized world markets and developing world and its emerging markets. In conclusion, no matter how trade blocs converge, what is pertinent is that global marketing growth should spur and encourage both the development of regional trade groups and the desire for economic growth in emerging world markets.
Keyword: Trade, blocs, industrialized market, emerging market