The golden Opportunity – Is the enlarged Europe ready for the Transatlantic Free Trade Area?

The world economy grows together. When Japan and the East Asian Tigers Taiwan, Hong Kong, Singapore and South Korea entered into the global economy exchange of goods few years ago, the whole world waited for the consequences with bated breath. Since then, new economies like China and India forge ahead in the world economy. The integration of these two countries in the world market will be an enormous challenge for Europe and the United States.

But what about Europe and the United States themselves? Regarding the possible consequences of the modified economic relations in the world, a strong economic alliance would be the best safeguard from the expected changes in the global economy. Bilateral Agreements are the new big deal in economic relationships between states and they are still a big deal in the transatlantic relationship. A Transatlantic Free Trade Area could give direction to the future transatlantic relation. But is a Transatlantic Free Trade Area needed and furthermore is it desirable?