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This chapter focuses on regionalism – as an approach to trade integration and analyses its necessity and contribution to the global trade system. It introduces the concept, then provides an account of the regionalism evolving in the world trading system. It reviews the different characteristics and trends, identifying the multiple successes and failures in the regionalism time path, across the globe. Looking back at the history of the regionalism under the GATT/WTO regime, major accords reached were based on regionalism, presently endorsed as an alternative framework for trade integration in the present trade regime. The chapter also highlights the importance of regionalism as an alternative mechanism under the GATT/WTO regime. It also illustrates how countries can utilize (form or join) th[K1] is approach to improve their positions in the global trade regime with a review of conditions that need to be fulfilled to succeed (not narrow, but wide success) at regionalism for trade integration. This is followed by an exploration of the prospects and possibilities of respective groups adopting this approach. This objective of this chapter is to highlights the gap in the literature and areas for potential research. The review reveals a necessary focus on Africa’s regionalism, as the gap in the literature
[K1]This paper presents this political economy logic of regionalism and uses it to structure a narrative of world trade regionalism since 1947. The logic is then used to project the world regionalism and in the case of Africa, arguing that their pattern will be marked by fractals – stagnated, stillborn or fragmented blocs. The paper then presents a novel political economy mechanism – building blocs – creates a force that encourages regionalism.
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