U.S. power and the politics of economic governance in the Americas

This article examines the nature of the emerging regional economic regime in the Americas and argues that the dominant approach to economic governance is one defined by the assertion of U.S. power in the region and oriented toward distinctively U.S. interests and preferences. This has been clearly evident in the evolution of the Free Trade Area of the Americas but also, with the deceleration and fragmentation of that process during 2002 and 2003, in the growing prioritization of bilateralism. The leverage afforded by the bilateral negotiation of trade agreements acts to situate primary influence in shaping the rules that constitute the regional economic regime, and the primary functions associated with governing in this context, firmly within the agencies of the U.S. state. This essay therefore explores how the hegemonic power of the United States manifests itself in the substance of the hemispheric project and the shape of the economic regime associated with it.