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co-operation : economic
- considered to bring greater economic opportunities through cooperation among states in a particular geographical region.
- Economic trade areas such as the EU single market bring opportunities to states for growth and prosperity which most EU members have enjoyed since establishing membership.
- making mutually beneficial trade agreements, enabling them to maximise their own economies, via a free-trade agreement, liberalising trade by reducing or removing restrictions between regional states : taxes, tariffs, quotas
- gain advantage from pooling sovereignty by being more collectively influential : Arab League conducts business by aiming to agree common positions on any policy area of shared interest
co-operation : political
- considered to allow weaker states to develop a more powerful voice in global politics
- Regional bodies such as the AU are considered better able to defend member interests when united with the Arab League aiming to 'draw closer the relations between member states and coordinate collaboration between them to safeguard their independence and sovereignty, and to consider...the affairs and interests of Arab countries'
development of regionalism : economic
- Economic regionalism has been the primary form of 'new' regionalism since the early 1990s
- Since the early 1990s we have seen the development of a significant number of regional bodies with a focus on the economic such as NAFTA, Mercosur and the AU which aims for a free trade area, a customs union, a single market, a central bank, and a common currency
- NAFTA, now the USMCA : was an agreement made between Canada, Mexico, and the US enabling these states to trade freely with one another through the reduction of trade barriers
development of regionalism : political
- deeper form of integration because it requires shared cultural ties and a common value system, both of which give a regional bloc a more distinct identity
- over time regionalism has evolved to include both a widening and deepening of regional relations
- Security (NATO) can be linked to Political regionalism : states make alliances to better strengthen their regional borders : involves militaristic alliances or agreements, so if any outsider attacks any of the states, then all regional members will react
- security regionalism directly relates to defence policies while the alliance of such states may be centred on a common threat
- nato is the most influential security organisation for European states, with a unified voice
defensive : economic
- Economic regionalism may be seen as a defence, by smaller states, against economically powerful states in global politics
- The EU has engaged in collective trade disputes at the WTO with economic powerhouses such as the US and China and other regional bodies feel better able to stand up to the major powers collectively :
At the time of the 2016 brexit referendum Obama was focusing on agreeing a trade deal - the TTIP, between the US & EU bloc, which is now obsolete, stating that the UK would be at the 'back of the queue' to make a trade deal with the US :
- the L/Remain campaigns utilised this to advocate whether it would be in the UK's best interests to negotiate with the US as part of the bloc or with a bespoke trade deal to better defend the UK's economic and trading interests.
- Regional protectionist policies protecting domestic trade, by placing limitations on quotas outside the region, fortifying their own economies : restricting imports, domestic populations are encouraged to buy products within the region :
-e.g. the EU is protectionist over its agriculture industry. The CAP offers farmers subsidies which enables them to produce cheaper goods, encouraging EU citizens to buy these instead of more expensive products from outside the region
defensive : political
- Political regionalism is considered to allow states to share and protect common values
- The EU insists that members and potential members uphold democracy, rule of law, human rights etc whilst ASEAN is committed to protecting the so called 'ASEAN way'.