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The economy of North America encompasses more that 514 million people in 23 sovereign states and 15 dependent territories. The boundary of the economy of North America is marked by the sharp division between the northern English and French speaking countries of Canada and the United States, which are considered the wealthiest and most developed nations in the world, and the countries of Central America and the Caribbean, which are considered less developed. Mexico is a NIC, or newly industrialized country, which lies in the middle of the two extremes, is apart of the North America free trade agreement and the only Latin American member of the OECD.

On January 1, 1994, the United States, Mexico, and Canada entered into the North American Free Trade Agreement (NAFTA), creating the largest free trade area and richest market. The NAFTA is considered the most comprehensive regional trade agreement ever negotiated by the United States. It is said that by 2008, the NAFTA will be fully......

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Approximate Word Count: 1193
Approximate Pages: 5 (250 words per double-spaced page)

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