Question 1 (60 marks) With the anticipation of an inevitable global recession, there is a need to change the way business is done internationally, in order to give the global economy a chance to survive the effects of the COVID-19 pandemic. Economic integration initiatives are already in existence. However, the global economy needs to act in a more unified way. Write an essay that addresses the following: Explain the existing economic integrations and what they mean. Give examples of the successful ones, and how they can be adopted to help resuscitate the global economy. Explain the tariffs that exist and how they affect trade. Also explain which ones should be eliminated. Make special reference to the South African economy. Make sure to show your understanding of non-tariff trade barriers, as discussed in Chapter 9 of your prescribed textbook, and how these should be considered (i.e. removed or maintained), in order to save economies - especially those of the developing world