MAKING REGIONALISM SAFE

Bringing the newly market-oriented countries of Asia, Latin America and Eastern Europe into the global economy would harness the productive capacity of some three billion people. But increased resistance to free trade has cut the supply of political tolerance for another global trade round anytime soon. An expansion of regional trading areas such as the European Union and NAFTA promises the greatest progress, but international efforts must keep regional blocs from becoming protectionist and ensure they are compatible with the global trade regime.