Explain the relationship between regionalism and globalisation.
Regionalism, particularly in the form of ‘new regionalism’, has been linked to globalisation
in a number of ways. These include the following:
• Regional economic blocs have tended to be formed in part because of the impact of globalisation on the economic independence of states. As borders have become porous and economic sovereignty has declined, states have been inclined to work more closely with other states in the same region.
• One motive for the formation of regional economic blocs is that these help states to resist pressure from intensified global competition. These blocs therefore function as customs unions, ‘fortresses’ against the pressures from the wider global economy.
• In an increasingly interdependent global economy, states seek prosperity through the establishment of free trade areas that give them access to larger markets and facilitate economic specialisation.
• Regional economic blocs have tended to be formed in part because of the impact of globalisation on the economic independence of states. As borders have become porous and economic sovereignty has declined, states have been inclined to work more closely with other states in the same region.
• One motive for the formation of regional economic blocs is that these help states to resist pressure from intensified global competition. These blocs therefore function as customs unions, ‘fortresses’ against the pressures from the wider global economy.
• In an increasingly interdependent global economy, states seek prosperity through the establishment of free trade areas that give them access to larger markets and facilitate economic specialisation.