As a market on its own, the EU becomes significant because of the large population, the availability of resources and the production opportunities which are present in the region. Of course the EU may not have the lucrative advantages that could be offered by China or other Asian countries but it does have the infrastructure in many places to support business at a level which countries such as India or even China may not be able to provide.
Additionally, as a democratic force and as an international body, the European Union is unique amongst its peers since it has a very complex and highly evolved system of creating and establishing its democracy. Since the treaties of Paris and Rome, the body has been creating, expanding and explaining the democratic principles that have led to its inception. Even though the system designed by the stalwarts of the EU is held in high regard by many critics, there are those who say that the system produced by the organisation is cumbersome, a hindrance to the economy, non-transparent and does not take into account the sprit of democracy.
Therefore, on issues such as the Iraq war and other points which can lead nations to be divided, the EU loses some of its bite because different countries within the union may have different opinions on how the matter should be dealt with. ...Show more