All is not well in the World Trade Organization. Rich countries balk at abandoning ailing domestic industries, poor countries are wary of global market forces, and activists decry what they claim to be the WTO's reinforcement of international inequities. Yet incentives for international economic integration remain strong. Does a global economy require global institutions? One possible alternative is interregionalism: economic integration between two distinct regions. This book explores the logic and policy appeal of interregionalism by focusing on the interregional strategies of the European Union. The EU, the world's most successful regional bloc, has recently pioneered an interregional approach, pursuing agreements with the Southern Cone of Latin America, East Asia and the Southern Mediterranean, among others. In doing so, it has challenged American policymakers to rethink their own approach to international trade relations. Why has the EU pursued this strategy, and will it continue to do so? Starting from a novel theoretical framework provided by the editors, the authors in this book explore EU interregionalism to answer these questions and provide insight into this new emerging face of the international political economy.