from Latin America Studies Program and Renewing America

The Globalization Myth

Why Regions Matter

Shannon K. O’Neil offers a powerful case for why regionalization, not globalization, has been the biggest economic trend of the last forty years.

Book
Foreign policy analyses written by CFR fellows and published by the trade presses, academic presses, or the Council on Foreign Relations Press.

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Americas

Globalization

Trade

Economics

Supply Chains

The conventional wisdom about globalization is wrong. Over the past forty years as companies, money, ideas, and people went abroad, more often than not they looked regionally rather than globally. In The Globalization Myth: Why Regions Matter, Shannon K. O’Neil details this transformation and the rise of three major regional hubs in Asia, Europe, and North America. Current technological, demographic, and geopolitical trends look to only deepen these regional ties. O’Neil argues that this has urgent implications for the United States. Regionalization has enhanced economic competitiveness and prosperity in Europe and Asia. It could do the same for the United States, if only it would embrace its neighbors.

More on:

Americas

Globalization

Trade

Economics

Supply Chains

Reviews and Endorsements

Regionalization is quickly becoming the new globalization. Shannon O’Neil’s The Globalization Myth deftly explains why the key to America’s continued industrial competitiveness lies neither in ‘America alone’ reshoring nor in laissez faire offshoring but in nearshoring. An important corrective to a broken public policy debate.

Ian Bremmer, President, Eurasia Group

Shannon O’Neil’s call for ‘more NAFTAs and fewer America Firsts’ is timely, constructive, and pragmatic. With her deep knowledge of the Americas and of the politics of regional integration, she makes a practical case for an American economic strategy which would work in a world dividing more into blocks. I urge our elected officials to open their minds to O’Neil’s compelling argument.

Adam S. Posen, President, Peterson Institute for International Economics

This is a phenomenal book about regionalization. Global markets are consolidating into three regional hubs. The United States needs to act on that, or it will get left behind. I found this a gripping read!

Ann E. Harrison, University of California, Berkeley

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