Can the benefits of economic integration be realised without full political integration?

Yes, the benefits of economic integration can be realised without full political integration.

Economic integration refers to the unification of economic policies between different states through the partial or full abolition of tariff and non-tariff restrictions on trade. The main aim is to reduce costs for both consumers and producers, and to increase trade between the countries taking part in the agreement. This does not necessarily require full political integration, which involves the merging of individual states' political and legal systems into a single unified system.

The European Union (EU) is a prime example of economic integration without full political integration. The EU has a single market that allows for the free movement of goods, services, capital and people between member states. However, while there is a degree of political integration, with the European Parliament and European Commission playing key roles, each member state retains its own government and political system. The EU demonstrates that it is possible to achieve significant economic integration, with benefits such as increased trade and economic growth, without full political integration.

Another example is the North American Free Trade Agreement (NAFTA), which is a treaty between the United States, Canada, and Mexico. NAFTA has created a trilateral trade bloc in North America, leading to economic benefits such as increased trade and economic growth. However, there is no political integration between these countries.

However, it's important to note that while economic integration can occur without full political integration, the process can be more complex and challenging. Differences in political systems and policies can create barriers to economic integration. For instance, differing regulations or standards can make it difficult for businesses to operate across borders. Therefore, while not a necessity, political integration can facilitate economic integration by harmonising these differences.

In conclusion, while full political integration can facilitate economic integration, it is not a prerequisite. Economic integration can be achieved through agreements that focus on reducing trade barriers and promoting economic cooperation, without requiring the merging of political and legal systems.