Globalization & regionalization have both been processes of special importance for international politics since 1989/90. Both processes have led to the creation of overlapping areas of integration, which requires political coordination & management. Simultaneously, interregionalism has become a new instrument of coordination that tries to control, in various shapes & structures, the tensions in the relations between international regions. Interregionalism is thus a dependent variable of globalization & regionalization. Its relevance could be drawn in three alternative scenarios: interregionalism as "rival regionalism," a "concert of regions," & an "interregional interlocking trap." The emergence & shape of the current interregional structures can be explained by using a systemic approach that combines elements of international political economy & neorealist arguments. Recent empirical results show that interregionalism faces the dilemma of whether to enter into the international interlocking trap or to cease business. A concert of regions could best avoid this dilemma in interregionalism. Adapted from the source document.
This article offers a critical political economy analysis of the new engagement of Europe with East Asia formalized through the Asia–Europe Meeting (ASEM) initiative. It does so by locating the significance of the evolving relationship in the context of the current debates on globalization and regionalization, and argues that posing issues in terms of ‘national ’ versus ‘global’ overlooks a vital level of analysis, namely emerging interregional arrangements. The evolution of the EU’s policy towards Asia is described, and the factors that have delineated Europe’s new interregionalism are analysed. The article also examines the state of Asia–Europe relations in the context of the unfolding Asian economic crisis, and suggests that the current policy agenda should be understood as part of broader multilateral efforts to construct a ‘new architecture’ for global economic governance.