Regional Paper
Globalization and Localization are two main forces, which are shaping our institutional environment. Pressures for both local and global action are calling for new forms of governance that better reflect the needs and demands of the emerging global society. This dissertation shall analyze the role of regional integration, discuss the advantages and disadvantage of regional integration, and compare and contrast the economic development stages of Americas and the ramifications of its region's economic development for global business.
Regional Integration
Regional Integration refers to a process of complex social transformation characterized by the intensification of relations between independent sovereign states (Hill, 2004). It gives rise to various forms of regional co-operation whose purpose is the better management of today's complex processes of economic, political and social change. Regional integration has become an imperative asset to global business, and has succeeded in generating many opportunities between neighboring countries to open their borders and promote free trade. The conflicting beliefs of the nations make it hard for all to come to agreements on certain issues. There is always going to be controversy and concern in each agreement especially if one or more nations stand to benefit while another suffers. But the nations will continue to experience better economic improvement as a result of regional integration and the quality of life in these nations is improving as a result. The case for regional integration is both economic and political. The case for integration is typically not accepted by many groups within a country, which explains why most attempts to achieve regional economic integration have been contentious and hal ...