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The New American Regionalism
This book provides a broad quantitative analysis of the new facets of regionalism in the Americas. In particular, major aspects of the New American Regionalism are discussed in terms of two basic notions: the genuine political character of economic integration schemes, and the profound inter-connectedness of the American regions with the global economy. Heinz Preusse examines the recent experiences of the two main integration agreements in the Americas - the North American Free Trade Agreement (NAFTA) and the Mercado Comun del Sur/Sud (MERCOSUR), and discusses critical aspects of the envisaged Free Trade Area of the Americas (FTAA). He concludes that NAFTA has enjoyed a good internal economic record, but, externally it may have contributed to the rise of the present American 'spaghetti bowl' regionalism. In addition, MERCOSUR is stagnating and faces an uncertain future after what was a fairly successful start-up period. The author goes on to argue that under these conditions, the FTAA may be a chance for the formation of an open - and only moderately discriminatory - regional agreement in the Americas.
He ascertains that the FTAA may therefore determine the fate of the New American Regionalism. Critically exploring the hypothesis that the New American Regionalism is growth-enhancing and conducive to the multilateral order, this book will appeal to academics, researchers and policymakers with a special interest in international economics, international politics, and regionalism.
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What Reviewers Are Saying
'Preusse has written a well-researched book with a cogent theoretical framework that is also highly readable and informative. Without question, it makes a positive contribution to our understanding of the economic and political determinants of new RIAs such as NAFTA, MERCOSUR, and the proposed FTAA. The book should prove to be a valuable addition to advanced undergraduate courses and/or seminars dealing with current international trade and finance issues.' -- Miguel D. Ramirez, Journal of Regional Science 'The heart of Professor Preusse's book deals with the two main integration agreements in the Americas, NAFTA and MERCOSUR, and the incipient FTAA. The handling of these three cases is masterful, replete with description, data, theoretical analysis, and opinion ... His book is a most worthwhile and stimulating read, certainly for those interested in Western Hemisphere developments.' -- From the foreword by Sidney Weintraub