Regional trade agreements (RTAs) are often seen as evidence of growing regionalism in international trade. However, the number of RTAs and the share of world trade between countries in RTAs are not accurate measures of regionalism. Many RTAs go beyond trade and have limited impact, leading to extreme outcomes like economic union or minimal effects. Despite the increase in RTAs, regionalism has not seriously challenged the world economy, as the multilateral trading system has remained strong over the past sixty years.