Globalization’s Regional Detour?

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Globalization, this piece from 2point6billion reminds us, has regional escape valves when the rules get tougher to negotiate at the global level. I think the attractiveness of regional common markets will also be reinforced as shipping costs rise due to energy scarcity. And even if buying useless bric-a-brac from countries with cheap labor costs halfway across the world continues to make for a cheaper bottom line, eventually rationing in terms of national security priorities will kick in. Interestingly, while the EU and China-ASEAN free markets seem like win-win situations for all the economies involved, the U.S. attempt to extend NAFTA-CAFTA […]

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