This is the first of five volumes reporting on the UNU WIDER project on New Regionalism. It deals with the conceptions and meanings of two processes which probably will have a crucial influence on the shape of the new world order : globalization and regionalization. They relate to each other as challenge to response, globalization being the challenge of economic and cultural homogenization of the world and regionalization being a social and political reaction. The leading writers in the field contribute to this volume. This work is intended for departments of politics (courses in international studies, globalization), international relations; and economics (courses in international economics).