β Scribed by Gittelman, Michelle
No coin nor oath required. For personal study only.
The issue of regional blocs has dominated recent discussions concerned with the emerging shape of the international economy. A unified Europe, a Japan-centered regional economy in Asia, and a North American free trade area, all occurring in conjunction with a faltering GATT round, point to a shift away from a multilateral game in which nations interact as equals-at least as far as the rules are concerned-to one in which regions, not individual states, will be the key players. That the trend toward regionalism in international economic relations is occurring is not a matter of debate, but question marks remain over whether it is indeed a good thing. Protectionist moves by powerful groups of countries would surely be more damaging than those taken by individual states, and the creation of large internal markets may increase temptations to resort to such measures. Regional integration itself may be viewed as a means of protecting groups of countries from outsiders. On the other hand, as the argument goes, regionalism may help foster a more open international environment by implementating at the regional level what could not be achieved at the multilateral level, namely, a freer environment for the cross-border movement of goods, services, and people.
π SIMILAR VOLUMES
## Abstract This paper compares the performance of India and China in attracting foreign direct investment (FDI). China ranks number one as the world's preferred foreign investment destination. FDI statistics suggest that India's performance has been significantly understated but India still lags a
A generic theoretical model is proposed that provides a holistic conceptualization of the phenomenon of changing trend of FDI flows. Integrating both institutional and strategic factors, a rationale for such a change is provided, and the circumstances under which future shifts might take place are i