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Chapter 5 - Coggle Diagram

- - - - GATT: a type of trade that was open to member nations to open their markets equally to each other.
  - - - Market embodies: Free factor mobility among a group of countries.
        
        Economic union: policies that ensure free factor mobility in a efevtive way.
        
        enonomic and monetary union: fixed exchange rates and full convertibility.
- - - - Is the growth of technology and trade.
- - - - Another group of countries,Germany and the Netherland, called the economists, argued that the coordination of economic policies and economic convergence should be achieved first before moving toward EMU.