Introduction and summary of conclusions / Michele Fratianni -- Borders and integration / Michele Fratianni -- Regional trade agreements / Richard Pomfret -- The economics of monetary unions : traditional and new / Herbert Grubel -- The gravity of globalization / Diego Agudelo, Lawrence S. Davidson -- A South American perspective : regional versus global trade patterns / Diego Agudelo, Galia Julieta Benítez, Lawrence S. Davidson -- Intra-regional sales and performance of multinational enterprises / Alan M. Rugman, Nessara Sukpanich -- Free trade agreement among China, Japan, and Korea / Heejoon Kang -- Asian business is regional, not global / Alan M. Rugman, Simon Collinson -- International terrorism, international trade, and borders / Michele Fratianni, Heejoon Kang -- Political violence and foreign direct investment / Quan Li -- Technical appendix on the regional economic integration database / Chang Hoon Oh.

Is the world globalized as so many pundits claim? The facts say otherwise. Consumption, for example, has a strong domestic bias. Distance and borders are two important reasons for this bias and are a powerful deterrent to globalization. Also, multinational corporations the organizations that best symbolize the concept of globalization do not have a global reach, but rather focus their activities within an area surrounding the home market. These facts suggest that regionalization and not globalization is the appropriate characterization of today's economic environment. This volume explores the drivers of cross-border trade and the forces underlying the expansion of the border from the nation to the regional trade area. The findings of this research cast some doubts on the practicality of striving for a more globalized trade system through costly and time-consuming trade rounds populated by a myriad of players with their agendas and conflicts? Would it not be better to let the world fully play out the regional option before implementing a more global strategy? It provides international coverage of global strategic management. It discusses multi-national corporation and whether their growth strategy should be regional v. global. It also addresses regional trade situations (i.e., NAFTA, European Union, and Mercosur).

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