List the Advantages and Disadvantages of Caribbean Single Market and Economy.
pohnpei397 | Certified Educator
The most likely advantages and disadvantages to this plan are similar to those of other common markets like the European Union. Here are some of them.
- Creates a bigger market.
- Creates a bigger pool of capital to draw on
- Creates a bigger pool of workers and (for workers) more firms to choose from
- Too much migration of workers to the richer countries
- Single currency would be hard to implement because some countries' economies are stronger than others
- Firms from weaker economies will be driven out of business.