Regionalism
Ironically, as society drifts towards globalization, regionalism also seems to take place in almost every corner of the globe. In fact, most countries in the world, on all continents, are members of regional trade agreements through either customs unions, free trade areas, or other preferential arrangements. Over 200 regional trade agreements (RTAs) exists and have been notified to the World Trade Organization (WTO) and over 150 of those agreements are in force. Most of these agreements have been concluded in the past ten years and cover mainly trades in goods or services, or a combination of both. To further complicate the issue of RTAs, many countries are members of several agreements; oftentimes these multiple agreements have differing rules. Europe seems to be taking the lead in regards to RTAs with sixty percent of the notified RTAs in force at the end of 2000 whereas developing countries only account for about fifteen percent of the total RTAs in 2000. The question that arises is whether the growth of regional groups helps or hinders the development of multilateral trading systems. Many countries are trying to balance between global and regional trade organizations. To understand the relative
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Some common words found in the essay are:
Ross Garnaut, Union EU, Bhagwati Panagariya, Organization WTO, Fred Bergsten, Program UN, Bruce Russett, Bergsten APEC, United Nations, Regionalism Ironically, free trade, regionalism globalism, regional trade, trade organization, trade agreements, global liberalization, economic security, regional initiatives, international organizations, trade organizations, internet accessed 23, regional trade organizations, regionalism represents effort, regional trading agreements, accessed 23 july,
Approximate Word count = 1656
Approximate Pages = 7 (250 words per page double spaced)
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