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The Rise of Regionalization in the World
The world is divided in these three regions, Asia, Europe and North America. And you point out that offthese three regions, North America does the worst. Explain why. So North America is the least integrated of these three. You look at trade within Europe, it's about 60, 65%. Right? There are pieces and parts and components that come from Vietnam, South Korea, Taiwan, Thailand, all kinds of places. The last place is China, so that's what the sign says.