The Pacific Alliance and the Construction of a New Economic Regime? –Lights and Shadows of the Renewal of Open Regionalism

To arrive at an understanding of Latin American regionalism and particularly that of the PA, in this chapter I will analyse what its creation means and its implications for regional governance and for a new economic regime, which may compete with the battered multilateral system of the World Trade Organization (WTO) and the stalled Doha Round.

My argument is that its creation expresses a return to open regionalism, a choice made by decision-makers in Chile, Colombia, Mexico, and Peru to strengthen a type of regional governance that is aligned with the current rules for the world. For the most part, it does so without questioning the dominant structure, as the four countries already individually follow and share the predominant ideas about trade, economics, and politics. At the same time, the PA allows them to disseminate and socialise their vision of the world.

I will study the PA as a regional cooperation initiative that is capable of having an agenda-setting influence and entering into dialogue with the concept of international regimes which are “implicit or explicit principles, norms, rules, and decision-making procedures around which actors’ expectations converge in a given area of international relations” (Krasner, 1983, p. 2). I also propose understanding this regional process as part of a larger framework, in this case, the construction of a new economic regime or Pacific Regime.

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Author: Lorena Oyarzún Serrano
Book reference: Post-Hegemonic Regionalism in the Americas: Towards a Pacific Atlantic divide? Jose Briceño Ruiz and Isidro Morales (eds) (p 141-155)
Full document: not available (Taylor and Francis, 2017)