The Globalization Myth: Why Regions Matter

by Shannon K O'Neil

Overview

A case for why regionalization, not globalization, has been the biggest economic trend of the past forty years

The conventional wisdom about globalization is wrong. Over the past forty years as companies, money, ideas, and people went abroad more often than not, they looked regional rather than globally. O’Neil details this transformation and the rise of three major regional hubs in Asia, Europe, and North America. Current technological, demographic, and geopolitical trends look only to deepen these regional ties. O'Neil argues that this has urgent implications for the United States. Regionalization has enhanced economic competitiveness and prosperity in Europe and Asia. It could do the same for the United States, if only it would embrace its neighbors.

Product Details

ISBN-13:	9780300268898
Publisher:	Yale University Press
Publication date:	10/18/2022
Series:	Council on Foreign Relations Books
Sold by:	Barnes & Noble
Format:	eBook
Pages:	248
Sales rank:	407,734
File size:	1 MB

About the Author

Shannon K. O’Neil is the vice president of studies, and Nelson and David Rockefeller Senior Fellow for Latin American Studies, at the Council on Foreign Relations.

Table of Contents

Introduction: The Untold Story of Regionalization amid Globalization 1

1 The Rise of Regional Supply Chains 17

2 Europe: Regionalism through Diplomacy 38

3 Asia: Regionalism through Business 69

4 North America: The Reluctant Regionalist 95

5 Going Forward: As Supply Chains Peak, Regional Ties Deepen 129

6 The United Stares' Best Bet: More NAFTAs and Fewer America Firsts 155

Acknowledgments 171

Notes 173

Index 219

Editorial Reviews

It is regionalisation, not globalisation, that explains the mechanics of prosperity. . . . If hope truly does lie in thought, we need to take our thinking about the world a lot more seriously than we do today.”—Richard Horton, The Lancet

“[A] lively narrative. . . . Recommended.”—J. Gerber, Choice

“Regionalization is quickly becoming the new globalization. Shannon O’Neil’s The Globalization Myth deftly explains why the key to America’s continued industrial competitiveness lies neither in ‘America alone’ reshoring nor in laissez faire offshoring, but in nearshoring. An important corrective to a broken public policy debate.”—Ian Bremmer, president, Eurasia Group

“Shannon O’Neil’s call for ‘more NAFTAs and fewer America Firsts’ is timely, constructive, and pragmatic. With her deep knowledge of the Americas and of the politics of regional integration, she makes a practical case for an American economic strategy which would work in a world dividing more into blocs. I urge our elected officials to open their minds to O’Neil’s compelling argument.”—Adam S. Posen, president, Peterson Institute for International Economics

“This is a phenomenal book about regionalization. Global markets are consolidating into three regional hubs. The US needs to act on that, or it will get left behind. I found this a gripping read!”—Ann E. Harrison, University of California, Berkeley

From the Publisher