HOW IS REGIONALISM DIFFERENT FROM AND YET APART OF GLOBALISM?

I . OPENING STATEMENT:

In this sense, globalization and regionalization are a paradoxical unit since their aims may be
comparable in some instances but wildly dissimilar in others. Both of these processes generate
new institutions in the global economic realm that govern the behavior of macroeconomic
subjects. As a result, institutions are transplanted in the majority of industrialized nations,
resulting in high socioeconomic dependency of receiving nations, impeding development,
exacerbating technical-economic underdevelopment, diminishing welfare, and increasing
economic and political risks. The creation of modern market institutions at the regional level,
particularly in the innovation and investment sectors, could solve these issues. Existing regional
norms and relations, as well as innovation and industrialization clusters, characterize these
organizations. 

II . A

According to Mohaghegh (2016), globalization encompasses a diverse range of aspects of

political, economic, cultural, and social life as well as the growth of new information
technologies and the effects those technologies have on society. Economic expansion, the
alleviation of poverty, and shifts in global inequality are all results of globalization's influence,
particularly on the world's developing nations. He believes that if globalization is carried out
while taking into account the cultural and economic aspects of each country, it will lead to many
improvements in quality of life, and that this will be the case regardless of whether or not
countries want to participate. 

II . B

On the one hand, globalization in many ways eliminates borders between internal and external
economic activity spheres, turning external factors into internal; on the other hand, the opposite
tendency works: in the world of business, internal factors tend to become more influential than
external factors. New economic regionalization processes can emerge within an economy as it
develops. Earlier on, regionalization served as a tool to overcome regional isolation, and its
function was to establish communication between neighboring regions. These days, however,
regional groups are starting to perform coordination functions more and more, and the
participants are combining their efforts to defend the interests of the latter. 

III . A

(Fujita, Krugman & Venables, 1999). In the field of geography, the idea of regionalization is often
used. With development and systematization over the next few years, different regional levels of
features will become clear. But the idea of "regionalization" went beyond this framework after
the second "cold" or "cold war." Political scientists, international relations experts, and
economists picked up on the term as they tried to figure out how the world was changing after
the "cold war." So, regionalism is tied to political goals, cultural values, and historical facts by its
very nature. Now, the idea of "regionalization" is a way to study how different regions work.
People think that the answers to globalization are cooperation and regionalization. forces (the
growing awareness of regional interests in the face of globalization as a stop on the way to full
globalization) (regional block formation as the first step in common political and economic
system formation). So, regionalization is only seen as a step in the development of a global
economic system as a whole. 

III . B

Regionalization is defined as "the development of economic, political, and other relations

between the region and the states that are part of the region; the formation of regional states
associations" in a large economic dictionary. Regionalism is defined as "an approach to
consideration" in the same dictionary. Regionalization is defined as "the development of
economic, political, and other relations between the region and the states that are part of the
region; the formation of regional state associations." 

CONCLUSION:

Globalization and regionalization processes have a dual nature. These processes are going to
be defined primarily along one of three basic lines: coherence, interdependence, or contradiction.
That is dependent on the patterns that emerge from the interactions between these things.
Regardless of whether competition or collaboration ends up being more successful, The
modern economy's increasing reliance on globalization The distinct institutional and
socioeconomic development of economic entities at different levels is what makes economic
space unique and what causes many economic processes to occur out of order. This is also the
factor that makes economic spaces different. 

CLOSING STATEMENT:

The inconsistency of globalization and regionalization processes leads to academics'

ambiguous assessments. Some of them believe that globalization and regionalization are
mutually beneficial and interdependent. Others assert that these processes are inconsistently
unified when unidirectional and multidirectional events alternate. In some instances, the
globalization objective does not correspond with the regional integration objective; in others,
some overlap is conceivable; and in the third instance, there is a fundamental divergence.
Regionalization is produced by globalization, whereas the establishment of regional blocks
impedes globalization processes. Integration activities in blocks allow nations to pool their
intellectual resources in the region and create more favorable conditions for their economic
growth and competitive advantages in the global market. 
References:

Azriliyan, A. (1999) Big economic dictionary. New economy institute, Moscow. 827p.

Baburina, O. (2008) Economic globalization. Modern economy issues, 3(27), 1-11.

Fujita, M., Krugman, P. & Venables, A.J. (1999) The Spatial Economy. Cities, Regions, and the
International Trade, The MIT Press:Cambridge. 367p.