The Twenty-First Century Regionalism: Brazil and Mercosur in the New International Scenario

The present paper intends to investigate the main characteristics of regionalism in the twenty-first century as well as the role played by Brazil and Mercosur in this new global scenario. This discussion is analysed through the perspective of the third wave of regionalism. Therefore, this article is divided into three main sections. Firstly, the theory of the regionalism waves will be explained. Secondly, the process of regional integration in Latin America will be analysed. At last, the insertion of Brazil and Mercosur in the context of the new regionalism will be investigated. This discussion is very important for developing countries, since it is directly linked to the prospects and challenges of their integration into the global economy. In conclusion, it can be asserted that the deep economic transformations observed in recent years have caused the breakdown of the stability of various economic blocs, including Mercosur. The search for new models of integration may solve common problems between neighbouring countries that often go beyond the merely economic domains. Hence, regional development depends not only on economic integration, but it is also often associated with physical integration and infrastructure improvement.