Air transportation is truly a global industry. However, future growth in world demand is being impeded by many nations that have enacted various air regulations and restrictive laws. A beginning toward a "new world order" of global competition and interconnectedness has appeared. The first "open skies" agreement was established between the United States and the Netherlands. This agreement, dubbed Open Skies I, signals the beginning of what could become global. The agreement abolishes all legal and diplomatic environments as well as all other trade barriers that impede airline efficiency. It also encourages competition. The Open Skies I accord completely deregulates air services between the two countries. If such pacts were agreed to between the U.S. and the EU and the U.S. and Asian countries, how would this affect demand for travel on the world's airlines? Explain and give several examples.