Tectonic Shift ― Geoeconomic Realignment of Globalizing Markets

Sheth (marketing, Emory U.) and Sisodia (marketing, Bentley College) argue that forces already in place will cause regionalization to supplant globalization, with the European Union expanding both east and south, a Chinese-led Asian bloc expanding to include a united Korea as well as Australia and New Zealand, a North and South America uniting under the revived Free Trade area of the Americas (FTAA) treaty and joined by the UK, and South Asia creating free trade area that will eventually join the FTAA. To build their case they describe the realities of globalization, including resistance to American dominance, trade as the engine of growth in an otherwise stabilized economy, competition between blocs, realignment of industrial policy and the renewal of infrastructure, trade and investment, the rationalization for a domestic industry, and potential obstacles to this realignment of markets. Response Books is an imprint of Sage India. Annotation c2007 Book News, Inc., Portland, OR (booknews.com)