Since the end of the Cold War, there has been a resurgence of regionalism across the globe. The number and salience of Regional Trade Agreements (RTAs) have grown significantly. As of July 2007, 380 RTAs had been notified to the World Trade Organisation (WTO). Thus the process of regionalism "appears irreversible, no longer to be dismissed by critics as a mere fad." However, this trend has raised controversies such as whether regionalism is becoming a stumbling block or a stepping stone in the processes of globalization. Some see regionalist projects as an obstacle to economic globalization, others as a way toward multilateralism. Hettne argues that new regionalism "cannot simply be a 'stepping stone' in a linear process, but this does not necessarily mean that it constitutes a 'stumbling block' either."
In this paper, I will be investigating whether regionalism is a stumbling block or a stepping stone in the process of globalization. The concepts involved will be explored in some detail, with a particular focus on the concept of regionalism. The paper goes on to examine regionalism from the perspectives of three dominant theories of international relations: neo-realism, neo-liberalism, and neo-Marxism. The stumbling block/stepping stone controversy will be explored both theoretically and empirically. The last part of the paper will look at regionalism in Europe, Asia, and Americas.
Rudi Guraziu is a Foreign Affairs Consultant specializing in the Balkan region.
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