Regionalism, Multilateralism, and the Politics of Global TradeTwo seemingly antithetical forces globalization and regionalism are shaping the contemporary world economy. Globalization isaccelerating interdependence on a worldwide basis. Regionalism attemptsto harness the pressures of globalization through strengthenedcollaboration among states, most notably in Europe through the EuropeanUnion, in North America through NAFTA, and in Asia Pacific throughAPEC. The rise of regionalism and an emerging interregional