Since the 1990s, the world has witnessed an unprecedented proliferation of regional trade blocs that promote regional economic integration. By 2020, nearly all of the World Trade Organization’s members had participated in one or more regional trade agreement. The total number of regional trade agreements currently in effect is around 300.
So, what is regional economic integration? How can it affect the global economy? Are there some differences among regional trade agreements regarding levels of integration? This video will answer these questions for you.