Two regional economies in Ireland

Abstract

The two regional economies of Ireland are located in a world of increasing economic interdependence. Market completion within the European Community is at an advanced stage, January 1st, 1993 being the symbolic start to open borders. The newly democratised economies of Central and Eastern Europe, after a painful process of restructuring, are likely to become more integrated into the wider world market economy. In North America, the NAFTA will build links between the economies of Canada, the USA and Mexico. Japan, together with the other market economies of the Pacific basin and China are co-operating increasingly in the economic sphere. In the wider world, the progressive extension of the provisions of the QATT are guiding the global economy towards free trade. None of this is happening without debate, argument, mistrust and even rancour. Nevertheless, it is happening and many people believe that these developments will eventually result in improved growth and living standards with few permanent losses to citizens of the developed and less developed world alike.