Regionalism versus multilateralism - important pieces in reforming the global economic governance

摘要

The challenges within international economic system have an impact on the issues of regionalism and multilateralism and international responses are provided according to the role that each actor involved in this process meets. Global economic governance has to be reformed in concordance with the changes and realities we all face. This paper aims to underline the transition of the concepts of regionalism and multilateralism from the traditional version that used to shape the 20th century to the questionable version that will shape the 21st century. The qualitative analysis is done in a comparative way, trying to highlight the most important elements of this transition. In terms of prior work, it has been previously tried to emphasizing the concepts already by known researchers in the field. The main added value is the comparative approach of the two concepts' transition and their formal relationship with the new paradigm of global economic governance.