At present approximately half of the world's trade is intra-RIA. Virtually all 146 members of the World Trade Organization are partners in at least one RIA, and several are part of two or more. While some economists believe that this proliferation of RIAs should be welcomed, others are less sanguine and emphasize the importance and primacy of multilateral trade liberalization.

Dilip K. Das examines whether regionalism has a rightful place in a rapidly globalizing world economy. The role of RIAs in the global trading system is explored as well as their role in promoting economic development, their welfare implications and whether they adversely affect the global trading system. The principal foci of the book include the impact of RIAs' market access provisions and trade regulatory functions on international trade relations.

Academics, researchers, and students in the areas of economics, international political economy, political science, international relations, regionalism, and business will find this timely volume of great interest.