Europe economy
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To study Europe economy, we need first address the Europe Union (EU) that is the largest trading zone in the world. It was composed of 15 Western Europe countries. 10 Eastern Europe countries joined EU recently that made EU more important in the world economy. EU accounts for nearly half of world trade. But nearly 70% of that total originates and ends up in the EU. This market share has remained stable over time. What has changed is that European countries, as a result of the single market, are trading more with each other and less with the rest of the world. This is evidence that European markets are continuing to integrate that European firms are trading one another more and more in European product markets.
The Europe economies are reviving at last following America and Japan. But a strong currency may yet pull them back again...