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consequences for international busienss and the flow of trade and investment

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If Canada the United States and Mexico decided to adopt a common market and monetary system similar to the European Union in your opinion what would be the likely consequences for international busienss and the flow of trade and investment between all three countries?

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This job shows consequences for international busienss and the flow of trade and investment.

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The European Union (EU) is a union of independent states based on the European Communities and founded to enhance political, economic and social co-operation. Formerly known as European Community (EC) or European Economic Community (EEC). The European Union has 25 member states, an area of 3,892,685 km² and approximately 460 million EU citizens as of December 2004. If it were a country, it would be the seventh largest in the world by area and the third largest by population after China and India. The European Union has land borders with 20 nations and sea borders with 31.

Similarly if If Canada the United States and Mexico decided to adopt a common market and monetary system it would have various benefits.
It will form the world's largest trading bloc, with a gross domestic product (GDP) of more US$11.4 trillion, or one third of the world's total GDP. Major implications:

Free trade of goods and services among member states

A common competition law controlling anti-competitive activities of companies (through antitrust law and merger control) and member states (through the State Aids regime).

Free movement of capital between member states

Harmonization of government regulations, corporations law and trademark registrations.

A single currency

Common system of indirect taxation, the VAT, as well as common customs duties and excises on various products.

It will help in development of establishment and administration of a common single market, consisting of a customs union, a single currency , a Common Agricultural ...

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