Chapter 7: Integration groups
Existing and emerging integration schemes and their experiences are examined in Chapter 7. Integration schemes are distributed on the basis of geography. The chapter demonstrates the ways, means and certain achievements of larger-scale integration between developed and some less developed countries. There are also references to the emerging mega trade deals that aim to create a new set of trade rules for the coming decades outside the WTO. The American policy is to set those new rules according to the American liking, but without the involvement of China (mega international trader), and make China either accept the already set new rules (capitulate) or be excluded. This is faulty and dangerous, as China, as the principal world producer and trader, may be the ‘natural heir’ of the American policy of global liberal trade. China may also develop its own parallel trading and payment system.
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