A continental trading bloc refers to the NAFTA, EU, and other such "free trade zones" based around continental boundaries. In east Asia, there have been a number of abortive attempts to create a free trade zone, and the People's Republic of China is currently interested in promoting free trade between itself and the ASEAN nations. However efforts to create such a East Asian zone have been politically problematic.
Some political commentators have argued that continental trading blocs are natural political units and these views were popular in the early and mid-20th century. For example, in his 1948 novel, "Nineteen Eighty Four", George Orwell suggested that global power would consolidate into three trading blocs defended by military power that was constantly shifting alliances so that two would be aligned against a third. His blocs were Eastasia, roughly the Chinese sphere of influence, Eurasia, and Oceania, the Nearctic and Neotropic zone plus most large islands (British Isles, Australia, New Zealand).
However, with the exception of the European Union, there has not been much interest in giving free trade zones existence outside of the economic sphere. Moreover, many advocates of globalization are opposed to continental trading bloc when they inhibit global trade flows.
Regional tradeblocs are intergovernmental associations that manage and promote trade activities for specific regions of the world.
Although the notion that the world is fragmenting into trade blocks is popular, what must be remembered is that there is not a clear definition of what a tradebloc is (Bliss 1994).
Bliss appropriately cautions us on giving too much credit to tradeblocs for development, noting that the efficacy of tradeblocs “depends upon the definition of a tradebloc” which must also include an assessment of current political conditions of the region (1994:1).
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