Where Data Tells the Story
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Even as protectionist policies make headlines from tariffs to industrial subsidies, large trade blocs still dominate global commerce. The European Union remains the world’s largest free trade bloc by intra-bloc trade value, reflecting decades of deep economic integration, common regulations, and dense supply chains across member states.
In Asia, the RCEP stands out as the largest by population, tying together East Asia, Southeast Asia, and Oceania into a massive production network, while USMCA anchors North American trade with tightly linked manufacturing and energy markets. Smaller blocs like CPTPP and ASEAN continue to punch above their weight by lowering barriers across fast-growing economies.
The contrast is telling, while governments talk more about tariffs and “economic security,” trade is still organized around powerful regional hubs. Globalization isn’t necessarily disappearing, it might just be fragmenting into rival trade blocs, with countries hedging between openness and strategic self-reliance.