regionalization
noun[U]
(UKalsoregionalisation)uk/ˌriːdʒənəlaɪˈzeɪʃən/us/ˌriːdʒənələˈzeɪʃən/ECONOMICS,POLITICS
the way that anareaof theworldcontainingseveralcountriesbecomesmoreeconomicallyorpoliticallyimportantthan theparticularcountrieswithin thatarea:
Economists havenotedtheincreasingregionalization of differentpartsof theworldintotradeblocs.