The New Regionalism in the Developing World: Case Studies of the ASEAN Free Trade Area and the UEMOA Common Market

Abstract

This article examines the dynamics at regional level that have been influencing and shaping the course of regional integration processes in Southeast Asia and West Africa since the early 1990s. The winding down of the Cold War led to a revival of interest in regional arrangements elsewhere, especially in many parts of the developing world, where regional economic blocs have been emerging while efforts to strengthen the existing ones have been going on. Using the particular case studies of the ASEAN Free Trade Area (ATTA) and the UEMOA Common Market (CM), this paper argues that beyond the direct impact of the proliferation of regional blocs elsewhere and the dynamic effects of globalization, which induce tight competition for production locations, trade shares, stock market capital and foreign direct investment (FDI), the adoption, acceleration and consolidation of the AFT A and UEMOA CM schemes, mostly respond to the necessity to balance the FDI diverting effects and the growing ascent of China and Nigeria emerging as regional powers. The logic of balance-of-power and the imperious necessity to get regional and international visibility in the globalizing world induced ASEAN and UEMOA leaders to undertake important regional integrative initiatives and policies conducive to create a single and competitive regional bloc, respectively within Southeast Asia and West Africa.