The European Union (EU) has eliminated import restrictions among its members. Who is helped by this and who is hurt?
2007-12-03 12:00:29 · 2 answers · asked by CD 1 in Social Science ➔ Economics
Those who are helped are the consumers. Those who are hurt are the producers unable to compete in the common market.
Take a look at the automotive industry, for example. The only automotive company in Austria, Steyr, is now controlled by Canada's Magna. Germany's NSU got taken over by Volkswagen in 1969 and played a key role in resurrecting the nearly forgotten Audi brand. The Netherlands' DAF got acquired by Sweden's Volvo in early 1970s (Volvo 343 was actually the last DAF design). France's Citroën went bankrupt in 1973 and had to merge with Peugeot. The British automotive industry in its entirety ceased to exist, although there are plenty of non-UK companies manufacturing cars in Britain...
2007-12-03 13:38:34 · answer #1 · answered by NC 7 · 1⤊ 0⤋
Because all the members or more of less developed there is not the problems that arise when a developed country increases trade with third world countries. Ireland and Spain have become very prosperous and I don't think any country has been hurt.
2007-12-03 20:26:02 · answer #2 · answered by meg 7 · 0⤊ 0⤋