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The aim of the article is to outline the theoretical grounds of regionalism &, in particular, to explain the basis of this new phenomenon, its forms (stages) & historical development. The core of the explanation is a "new" regionalism as the third wave of regionalism in the world economy: its interpretation, causes, diversity & cases of regional integration. Furthermore, trends in regional development of trade initiatives have been outlined (from the "old" to "new" regionalism, from a "looser" to "deeper" integration, from individual cases to "global" regionalism.) In the conclusion, areas requiring further examination in connection with the impact of regionalism on the Czech economy have been defined. Graphs, References. Adapted from the source document.

As a consequence of the new regionalism a marked increase in the number of regional groupings can be observed which makes the preferential relations between states even more complicated & complex. One of such complex relationships, which did not come to being during the third wave of regionalism but was strongly supported by it, is subregionalism -- simply said, overlapping of regional integrations. The aim of this comparative study is to analyze a current state & development of subregionalism within two region-wide integrations -- the European Union (EU) & the Asia Pacific Economic Cooperation (APEC) -- & on the basis of this analysis to compare the effects of this phenomenon in both regions. Some general conclusions enabling an assessment of future development of subregionalism & its impact on regionalism in Europe & Asia are the main outcomes of the comparison. References. Adapted from the source document.