Difference between revisions of "Regionalism"
(New page: Regionalism, generally speaking, is a phenomenon in international trade where states create groups for the purposes of trade and to collectively reduce barriers of trade among the members ...) |
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| − | Regionalism, generally speaking, is a phenomenon in international trade where states create groups for the purposes of trade and to collectively reduce barriers of trade among the members of a group. Most of this phenomenon appears in the form of Regional Trade Agreements (RTA). These groups, like all trade regimes, vary greatly in terms of the scope of the goods that are covered, the institutional bylaws and guidelines of these agreements, etc. There is not a universal definition for regionalism due to disputes over the importance of geographic proximity and on the relationship between economic flows and policy choices. However, a region is often defined as a group of countries located in the same geographically specified area. An example which illustrates this is the African, Caribbean and Pacific Group of States which includes African, Caribbean, and Latin American nations. | + | '''Regionalism''', generally speaking, is a phenomenon in international trade where states create groups for the purposes of trade and to collectively reduce barriers of trade among the members of a group. Most of this phenomenon appears in the form of Regional Trade Agreements (RTA). These groups, like all trade regimes, vary greatly in terms of the scope of the goods that are covered, the institutional bylaws and guidelines of these agreements, etc. There is not a universal definition for regionalism due to disputes over the importance of geographic proximity and on the relationship between economic flows and policy choices. However, a region is often defined as a group of countries located in the same geographically specified area. An example which illustrates this is the African, Caribbean and Pacific Group of States which includes African, Caribbean, and Latin American nations. |
The incidence of regionalism has increased in recent history as the number of members in the GATT and WTO increased. This has generally been attributed to problems with the World Trade Organization. Small nations that are not part of the quad countries may engage in RTAs to enhance their power within the WTO. RTAs may also serve as alternatives among countries with similar trade policy goals when they cannot have their goals implemented through WTO negotiations. | The incidence of regionalism has increased in recent history as the number of members in the GATT and WTO increased. This has generally been attributed to problems with the World Trade Organization. Small nations that are not part of the quad countries may engage in RTAs to enhance their power within the WTO. RTAs may also serve as alternatives among countries with similar trade policy goals when they cannot have their goals implemented through WTO negotiations. | ||
There are two camps within international political economy that see regionalism as either an aid or an obstacle to global integration. Some decry the loss of multilateralism and a resulting division of the world into regional trade alliances. Others believe that regionalism encourages states to reduce trade barriers in an initially less painful manner, and thus helps states transition to a position where they are better suited to reduce trade barriers multilaterally. | There are two camps within international political economy that see regionalism as either an aid or an obstacle to global integration. Some decry the loss of multilateralism and a resulting division of the world into regional trade alliances. Others believe that regionalism encourages states to reduce trade barriers in an initially less painful manner, and thus helps states transition to a position where they are better suited to reduce trade barriers multilaterally. | ||
Revision as of 22:03, 8 October 2010
Regionalism, generally speaking, is a phenomenon in international trade where states create groups for the purposes of trade and to collectively reduce barriers of trade among the members of a group. Most of this phenomenon appears in the form of Regional Trade Agreements (RTA). These groups, like all trade regimes, vary greatly in terms of the scope of the goods that are covered, the institutional bylaws and guidelines of these agreements, etc. There is not a universal definition for regionalism due to disputes over the importance of geographic proximity and on the relationship between economic flows and policy choices. However, a region is often defined as a group of countries located in the same geographically specified area. An example which illustrates this is the African, Caribbean and Pacific Group of States which includes African, Caribbean, and Latin American nations.
The incidence of regionalism has increased in recent history as the number of members in the GATT and WTO increased. This has generally been attributed to problems with the World Trade Organization. Small nations that are not part of the quad countries may engage in RTAs to enhance their power within the WTO. RTAs may also serve as alternatives among countries with similar trade policy goals when they cannot have their goals implemented through WTO negotiations.
There are two camps within international political economy that see regionalism as either an aid or an obstacle to global integration. Some decry the loss of multilateralism and a resulting division of the world into regional trade alliances. Others believe that regionalism encourages states to reduce trade barriers in an initially less painful manner, and thus helps states transition to a position where they are better suited to reduce trade barriers multilaterally.
