Published Paper Details:

The genesis of regionalism can be traced from ancient times but in modern times the seeds of integration or regionalism were sown during the Second World War. The whole world was integrated into two blocs on the basis of ideology. The determinant factors for this integration were political and strategic concerns. Both the blocs concluded political and defense pact in counter of each other. The major concern for this integration was security factor. This can be treated as the beginning of integration in modern times. The 1950s is characterized by another way of integration. The European Economic Community was constituted with an objective of common and institutionalized market of European nations. This is considered as New Regionalism or Economic Regionalism and finally it was culminated in form of European Union. The demise of Soviet Union and socialist ideology brought new era in international politics. The tension between the two blocs came to an end and due to this factor the political and strategic concerns got irrelevant and economic issues came on forefront as the determinant factor for new international economic order. The structural changes in post cold war period brought the world in to a village. The process of globalization inspired the nations to integrate their economies with global economy