This text investigates the economic implications and policy frameworks surrounding the proliferation of regional trading arrangements in the global marketplace. Richard W. T. Pomfret, an established economist, utilizes trade theory and empirical observations from the 1990s to evaluate how discriminatory trade policies affect international commerce. The book provides a structured analysis of the incentives and consequences associated with preferential trade agreements between nations.

Experts recognize this work as a concise, unified treatment of regionalism within international trade theory. Readers frequently note the clarity of the economic arguments presented, making it a useful resource for students and practitioners of trade policy.