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Regionalism in a Converging World
The Triangle Papers: 42
Toyoo Gyohten et al.

The recent drive to create regional economic blocs such as the European Union and the North American Free Trade Agreement threatens to derail the creation of global arrangements to cope with the ever more rapidly integrating world economy. This report prepared for the Triangle Commission's annual meeting in Lisbon, Portugal, in April 1992 recommends ways to promote regional integration so that it reinforces globalism rather than fueling nationalism and protectionism.

Section 1 outlines the forces tilting regionalism toward protectionism. Section 2 summarizes the potential of regionalism to strengthen and undermine globalism. Section 3 describes the divergent forms of regionalism developing in Europe, North America, and East Asia and the global implications of this process. Section 4 suggests ways in which the Trilateral governments of North America, Europe, and Japan can simultaneously further regional and global cooperation by stimulating international trade and investment, coordinating macroeconomic policies, and establishing rules and institutions for handling international capital flows.

The Japan Center for International Exchange is the Japanese secretariat for the Trilateral Commission.

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New York, Paris, and Tokyo: The Trilateral Commission, 1992

ISBN 0-930503-68-6; 24 pages; paper, $6.00

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