Regionalism refers to the process of organizing political, economic, and social activities on a regional scale, instead of a national one. It can involve cooperation and integration among neighboring countries or regions to achieve common objectives. On the other hand, new regionalism is a recent phenomenon that emerged during the 1980s, and it is characterized by the formation of regional trade agreements, such as the North American Free Trade Agreement (NAFTA) & the European Union (EU). The primary objective of new regionalism is to promote economic growth, development, and cooperation among member countries. It is primarily driven by globalization and the desire to remain competitive in the global economy. However, new regionalism has also raised concerns about potential impacts on national sovereignty, social and environmental standards, and the potential for exclusion and inequality among member countries.
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