New Dimensions in Regional Integration

This volume considers the implications of revived interest in regional integration for the world trading system.

This volume considers the revived interest in economic integration in developed and developing countries. International experts assess the renewed attractiveness of regional integration, the types of integration with the necessary conditions for their success, and the relationship of regionalism to multilateral free trade.Interest in regional integration has recently revived in both developed and developing countries. The US has responded to the lack of progress in the Uruguay Round of the GATT by pursuing bilateral trade negotiations, while developing countries have been prompted to re-evaluate the potential benefits of regional integration. The tendency for the world trading system to divide into three blocs - the European Community, the Americas and East Asia - is providing their members with guaranteed access to large markets; however, poor non-member countries will suffer from the loss of access and the risk of trade wars is increased. In this book leading international experts assess the renewed attractiveness of regional integration to individual countries, the types of integration that are suitable to various circumstances, the conditions necessary to their success, and the relationship of regionalism to multilateral free trade.