The bilateral agreement has enabled China and South Korea

Unit V Essay Using at least your textbook and a minimum of three additional sources, answer the following questions. Your papershould be at least three pages in length, excluding title and reference pages. Follow APA style guidelines.1. The bilateral agreement has enabled China and South Korea an increase in trade and an increase in trade deficitfor the United States; what are the advantages and disadvantages for the United States to continue theserelationships with the bi-lateral agreements?2. With regards to the various agreements/treaties discussed, EU, WTO, NAFTA, CARICOM, APEC, MERCOSURand ASEAN: Discuss any pending applications, candidate countries, or associate members. What are the advantages/implications for trade within the trading group and for the United States? Determine the GDP and GNP of those pending countries. Based upon your assessment, do you think these countries should become full members of the FTAs theyhave applied to? Why, or why not?Information about accessing the Blackboard Grading Rubric for this assignment is provided below.

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