PRIMO BRAGA, C.A. creator text 1994 monographic Analyses how the new regionalism may affect trade flows in the Americas. Suggests that these arrangements can be more successful in promoting an increase in intra-regional trade than previous regional initiatives, without promoting significant trade diversion. To the extent that these agreements are kept as 'open' trading blocs, they will not necessarily detract from unilateral and multilateral liberalisation efforts and they can be welfare enhancing. 3/7/00 M2LMGR