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This paper examines the interacting dimensions of the regionalist process that are currently being developed in Europe the Americas. Hereby, it is argued that two tendencies currently exist. The first is strategic regionalism that is result of an alliance between some nation states and Multinational Firms. The objective of this modality of integration is the radical liberalization of markets and regulation of "trade related issues". The second approach is "social regionalism" that goes beyond the liberalization of markets and proposes the productive integration and a regional social policy. In the paper is examined the extent to which these approaches have influenced in the process of creation and development of the EU, NAFTA and Mercosur. ..PAT.-Unpublished Manuscript [ABSTRACT FROM AUTHOR]