Sub-regionalism, regionalism, trans-regionalism. Implications for economic integration and international trade policies

This paper provides a summary of the various concerns surrounding regionalism. First, it provides a brief review of regionalism with a general explanation of what regionalism means, especially in terms of regional trade agreements. Second, it discusses the various benefits that allegedly arise due to regionalism. Third, in contrast, the disadvantages and problems associated with regionalism are discussed. In conclusion, it seeks to explain the implications of regionalism in terms of economic integration, international trade policies and the future of Asia–Europe relations. It suggests that regionalism is inexorably progressing, that in the end we will all tend to share in its benefits and that countries particularly in Asia and Europe should prepare themselves in light of these developments.