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Political Science
Political Science 3366E
Nigmendra Narain

READINGS WEEK 18 STILES CHAPTER 17 ECONOMIC REGIONALISM INTRODUCTION Economic integration is one type of regionalism involving reduced obstacles to trade investment and migrationRegional economic organizations can generally be categorized in terms of their objectives and methodsMore difficult and painful are efforts to increase regional trade directly through mutual reductions in tariffs and quotasa free trade zone The tariff serves as an inducement to help soften the blow of opening domestic markets to goods from other regional playersMost difficult level of integration involves removal of nontariff barriers that interfere with the flow of goods services Harmonization involves making as many government policies as possible uniform across the region so that no business or consumer is penalizedThe most difficult is outright federalization of a region whereby the entire area is brought under a single political authorityDe Sullys proposal was the first of a string of concepts calling for European unity EMERGENCE OF COMMON MARKETThe common market originated from both external and internal forcesAdministrative efficiency and capital utilization required a regional rather than a national approach The result was American enthusiasm for the Marshall Plan and the regional cooperation it entailed In 1948 European leaders organized a conference at the Hague Conflict emerged between federalists who envisions a powerful European federal government and the unionists who sought merely ad hoc agreements to deal wit particular problems piecemeal The Marshall Plan formally known as the European Recovery Program was an essential stopgap measure for the United States to provide necessary capital and materials for European reconstruction the Bretton Woods institutions World Bank and International Monetary Fund had proved inadequate to the taskOEEC was quickly founded in 1948 to give Europeans a role in distributing the resources that flowed from the USThe OEEC was not the first regional organization devoted to the economic coordination in Europe
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