globalization vs regionalism
... GLOBALISM VERSUS REGIONALISM The closing years of the twentieth century are known for the expansion and deepening of globalization. ... There are several dimensions to the dynamics of globalization process, including the integration of trade and financial transactions among countries. Powerful economic and political forces have accelerated the globalization of markets. Managed right, globalization can turns into a forceful public good. ... Indeed, none of this would have been possible in the absence of political decisions to pursue policies consistent with globalization. However, regionalism is on the rise. At the turn of the century, both globalism and regionalism are coexisting in the global trading system. If anything, regionalism is rapidly growing. ... Does regionalism have a direct, effective and systemic link with trade liberalization? ... Regionalism could be fragmenting global trade, and in the process creating a new global disorder characterized by growing rivalries and widening economic gaps. ... The assumption that regionalism would lead to globalization does not have to be correct.