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Micro Regionalism and Globalization - Essay Example

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This essay analyzes the micro regionalism and globalization which indicate the dominance of myriad economic forces that influence the development of the states. The economic forces comprising of trans-border production and trade flows and new investment pattern…
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Micro Regionalism and Globalization
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Micro Regionalism and Globalization

Download file to see previous pages... The various lobbies like South-South cooperation, Organization of Petroleum Exporting Countries or OPEC, Asia Pacific Economic Cooperation or APEC, South Asian Association for Regional Cooperation or SAARC etc. are important economic and political motivated organizations that give impetus to micro regionalism. The new scale of economy and the leverage gained through regional cooperation goes a long way in establishing the global presence of small states while ensuring their unique identity (Breslin & Hook, 2002). Globalization, on the other hand, is primarily motivated by the political ideology and economic interests to exploit opportunities across the wider geographical area. It is backed by technology and migration of people across the globe. It has opened new job opportunities across the globe and facilitated the greater inflow of capital to the poor countries. But it has also brought into sharp focus of the hegemony of the rich and the powerful nations like America who exploit small regional states for their vested interests. Hence, one can state that socio-economic forces of micro regionalism are stronger than that of globalization mainly because micro-regional dynamics provide the states with greater leverage to exploit their resources and promote regional development for higher bargaining power, especially with the West. OPEC is the prime example of micro regionalism that has established its global entity with the strong influence on the price and trading of petroleum products. ...Download file to see next pagesRead More
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