In recent years, global trade integration efforts have mostly fallen short of anything but dismal success of multilateral efforts to expand free trade. However, bilateralism and regionalism in trade have accelerated rapidly. In fact, the majority of MNEs generate most of their revenue through trade in their home region (USMCA to USMCA, EU to EU, etc.). This makes sense; after all, most countries in a region share greater cultural, economic, and geographic similarities, which should facilitate similar consumer needs and marketability. From a resource-based perspective, most firms are likely to be better prepared to deal with regional challenges than global ones because they have more internal experience and access to suitable raw materials locally. Even academic research has failed to demonstrate that global trade governance through the WTO has created a significant positive effect on global trade. In your primary post, address these prompts: When academic research is combined with the trend toward regional and bilateral integration agreements, do international agencies like the WTO really matter anymore? Should savvy international managers focus more on local, regional trade and downplay global in their strategic plans? What is the difference between free trade and fair trade?