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The European Union ( EU) is a supranational political and economic union of 27 member states that are located primarily in Europe. [8] [9] The Union has a total area of 4,233,255 km 2 (1,634,469 sq mi) and an estimated total population of over 448 million. The EU has often been described as a sui generis political entity (without precedent or ...
Six European nations, Belgium, France, Germany, Italy, Luxembourg, and the Netherlands took a step toward economic integration with the formation of a common market of coal and steel. They formed the European Coal and Steel Community in 1951. The idea was to stream-line coal and steel production.
Mercantilism. Mercantilism is a nationalist economic policy that is designed to maximize the exports and minimize the imports for an economy. In other words, it seeks to maximize the accumulation of resources within the country and use those resources for one-sided trade.
Wade–Giles. Ssu1 ch'ou1 chih1 lu4. The Silk Road ( Chinese: 丝绸之路) [a] was a network of Eurasian trade routes active from the second century BCE until the mid-15th century. [1] Spanning over 6,400 kilometers (4,000 miles), it played a central role in facilitating economic, cultural, political, and religious interactions between the ...
The European single market, also known as the European internal market or the European common market, is the single market comprising mainly the 27 member states of the European Union (EU). With certain exceptions, it also comprises Iceland, Liechtenstein, Norway (through the Agreement on the European Economic Area ), and Switzerland (through ...
The First World War, and especially the Second World War, diminished the eminence of Western Europe in world affairs. After the Second World War the map of Europe was redrawn at the Yalta Conference and divided into two blocs, the Western countries and the communist Eastern bloc, separated by what was later called by Winston Churchill an " Iron ...
Website. WTO.org. The World Trade Organization ( WTO) is an intergovernmental organization headquartered in Geneva, Switzerland [6] that regulates and facilitates international trade. [7] Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System.
This was an international community based on supranationalism and international law, designed to help the economy of Europe and prevent future war by integrating its members. With the aim of creating a federal Europe two further communities were proposed: a European Defence Community and a European Political Community.