To what extent are trading blocs an effective and realistic response to globalization?

Trading
blocs respond to certain specific problems raised by globalization. The first problem they
address is that globalization does not necessarily involve free markets or balanced trade. A
global trade organization such as the WTO has limited ability to solve such problems, and its
sheer size can limit its ability to achieve consensus. Trade blocs such as NAFTA can create
limited trade agreements that facilitate limited trade in goods and services without requiring
global agreement. They can also address the global imbalance of small, poor countries having
less leverage in...