Does Regionalism Better than Globalisation as a Vehicle for Development?

Abstract

Regionalism and globalization played an important role in the development of the world economy. Globalization has provided regionalism with a technological revolution and a basis for communication, while regionalism has provided an opportunity for China to find a balance in the globalization process. This paper will answer the question of whether regionalism is a more suitable driving force for development than globalization in terms of the irreplaceability of regionalism and globalism as well as the irreducibility of regionalization. At the same time, the paper points out that regionalism is a stepping stone to globalization, not a stumbling block. Developing countries should actively participate in global governance and international cooperation in order to realize the twin goals of economic development and national interests.