By J. Carrillo, Y. Lung, R. van Tulder, Rob van Tulder
This hugely topical booklet brings jointly a number of the world's best experts at the worldwide vehicle who speak about the fine details of the quicker lane of regionalism at a time that the area is reassessing the fine details of globalization. It presents a radical and up-dated mapping of the global geography of the automobile undefined, within the triad areas (Europe, North the US and Japan), and within the rising international locations and areas.
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Additional resources for Cars, Carriers of Regionalism?
The general dynamics of intra-/extra-regional trade flows represents declining or stabilizing extra-regional trade. So all eight regions have either remained relatively closed (developed countries) or substantially increased their relative closedness in terms of international trade (developing countries). The trade data show that some regions have become more closed or less open, but this does not necessarily imply that this process represents a step away from ‘globalization’. Both regionalism and globalization can develop at the same time.
Regulation regimes – including an automobile space – under open market and investment conditions differ considerably from regimes operating under more closed market and investment conditions. Open regionalism appears when economic integration in the region does not act as a substitute for economic linkages to the outside region. At its best open regionalism combines growing intra-regional flows with growing extra-regional flows. By contrast, closed regionalism appears when intra-regional trade and investment substitute for extra-regional trade and investment: the growth of intra-regional flows comes at the expense of extra-regional flows, thus contributing to a more closed nature of the region.
The region embraces hardly any country with outward-oriented investment, with the exceptions of Malaysia and Singapore which perform an important ‘hub’ function with regard to the region. In MERCOSUR and SADC, Brazil and Argentina, and South Africa, respectively, fulfill similar ‘hub’ functions, with noticeable stocks of outward FDI, primarily invested in the region. The degree of inward investment in MERCOSUR and SADC, however, remains relatively limited (around 10–15 per cent of GDP). In general, for all regions containing only developing countries, the pattern of negligible outward FDI stock and substantial inward FDI stock is visible.
Cars, Carriers of Regionalism? by J. Carrillo, Y. Lung, R. van Tulder, Rob van Tulder