Regional Trade Agreements versus Global Trade Liberalization Annotated Bibliography

Regional Trade Agreements versus Global Trade Liberalization - Annotated Bibliography Example This journal was written on the backdrop of renewed interest in regional trade agreements, with many policymakers and scholars analyzing the benefits and drawbacks of regional trade agreements versus trade liberalization. This book discusses the proliferation of regional trading relationships in the world, particularly in Europe, Asia, and Latin America, and the resulting policy concerns on their impact on excluded countries and generally the global trading system. It has been observed that multilateral system may fracture due to the overt discrimination policies advanced by the regional blocs. The book relies on empirical analysis to explore new forms of preferential trade agreements that concentrate their trades within such regions. In a twist, the author further assesses the regional blocs on what he terms as natural or supernatural and their impacts on the global welfare. in conclusion, the book talks about complete liberalization within blocs without reduction in barriers between them pushes the trading system into the super-national sphere of too much regionalization Many reason underlie the need for regional integration among which include strategic alliances mainly for security purposes, access to a larger chunk of the international market, and lock in domestic policy reform as is with the case with Mexico and the North American Free Trade Agreement. Ensuring of fair returns among the member is also a priority of regionalism as it ensures the disparities that exist among the members do not tilt the scale in favor of any particular member. The article reviewed the theoretical and empirical literatures that have been penned down on regionalism. The regional trade agreements have been to some extent the most liked form of reciprocal form of trade liberalization in the past decade or so. The paper highlights certain aspects of regionalism that have often been forgotten by writers, and theses aspects are key