Which organization created a shared economy? European Union World Trade Organization North American Free Trade Agreements Association of Southeast Asian Nations

The organization that created a shared economy is the European Union.

The European Union is a political community of law constituted under a sui generis regime of international organization created to foster and welcome the integration and common governance of the States and peoples of Europe. It is composed of twenty-eight European States and was established with the entry into force of the Treaty on European Union on November 1, 1993.

The European Union promotes continental integration through common policies that cover different areas of action, essentially economic and progressively extended to undoubtedly political areas. To achieve their common objectives, the states of the Union attribute to this certain competences, exercising a common or shared sovereignty that is deployed through community channels.

The European Single Market is a combination of customs union and free trade area, which generates a shared economy. Thus, the members of the Union act as a block, defining the same tariffs when trading abroad (to avoid internal competition), canceling border tariffs among them and allowing the free movement of people, as well as capital and services (freedom to provide services and freedom of establishment of companies).

The European Union is the correct answer!