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World Trade and Investment Law Reimagined
A Progressive Agenda for an Inclusive Globalization
Edited by Alvaro Santos
Chantal Thomas
David Trubek
In a time of turmoil in international economic law, experts from 10 countries suggest ideas for a new and progressive trade and investment regime in ‘World Trade and Investment Law Reimagined’ that would help sustain growth, facilitate development and ensure that gains are shared and losses compensated.
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About This Book
World trade and investment law is in crisis: new and progressive ideas are needed.
Rules that facilitated globalization and supported global economic growth are being challenged. A system of global governance that once seemed secure is now at risk as the US ignores the rules while developing countries struggle to escape restrictions. Some want to tear global institutions and agreements down while others try desperately to maintain the status quo. Rejecting both options, a group of trade and investment law experts from 10 countries, South and North, have joined hands to propose ideas for a new world trade and investment law that would maintain global growth while distributing costs and benefits more fairly. Paying special attention to those who have suffered from trade dislocation and to restrictions that have hampered innovative growth strategies in developing countries, they outline a progressive trade and investment law agenda in ‘World Trade and Investment Law Reimagined’ that includes new ways to link trade with protection for labour; measures to ensure that gains from trade are used to offset losses; new rules that can protect foreign investments without hamstringing developing governments or harming local communities; innovative procedures to allow developing countries the freedom to try innovative growth strategies; and methods to cope with new products.
Reviews
“At a time when the global trading order is under assault, this volume offers a fresh perspective, reminding us that the sources of discontent extend well beyond shifting geopolitics and of the wide range of challenges that must be addressed.”
—Mark Wu, Professor of Law, Harvard Law School, USA
“What does a progressive trade and investment agenda look like? How can international economic regimes tolerate more heterodoxy and pluralism? If states are to recapture policy space, this book could not be more timely. Its short and readable essays spark fresh thinking about routes previously foreclosed.”
—David Schneiderman, Professor of Law and Political Science, University of Toronto, Canada
“Twenty-one leading progressive voices rethink the framework for global economic life. A must-read for scholars and policy makers frustrated by the lack of real alternatives to a global economy tilted toward the wealthy and the powerful.”
—David Kennedy, Manley O. Hudson Professor of Law and Faculty Director, Institute for Global Law and Policy, Harvard Law School, USA
“World Trade and Investment Law Reimagined is a timely and exceptional volume on ways to address the current crisis in the liberal international order to achieve sustainable and inclusive economic globalization.”
—B. S. Chimni, Professor of International Law Emeritus, School of International Studies, Jawaharlal Nehru University, India
“Eschewing extreme forms of economic nationalism, on the one hand, and austere forms of neo-liberalism, on the other, this book, through a rich and invigorating diversity of perspectives, proposes a new progressive agenda for international trade and investment law that would integrate trade and social policy more fully so as to more broadly distribute the gains from trade.”
—Michael Trebilcock, University Professor and Professor of Law, University of Toronto, Canada
Author Information
Alvaro Santos is Professor of Law and Faculty Director of the Center for the Advancement of the Rule of Law in the Americas at Georgetown University Law Center, USA.
Chantal Thomas is the Radice Family Professor of Law at Cornell Law School, USA, and Director of its Clarke Initiative for Law and Development in the Middle East and North Africa.
David Trubek is the Voss-Bascom Professor of Law and Dean of International Studies Emeritus at the University of Wisconsin-Madison, USA, and Senior Research Fellow at Harvard Law School, USA.
Series
Anthem IGLP Rethinking Global Law and Policy Series
Table of Contents
Acknowledgments; List of Contributors; Part I: Introduction and Overview, David Trubek, Chantal Thomas and Alvaro Santos; Part II: Rethinking the Political Economy of Trade: Comments on Dani Rodrik’s ‘Straight Talk on Trade’, Chantal Thomas, Kevin P. Gallagher, Gregory Shaffer, Alvaro Santos and Dani Rodrik; Part III: Setting the Stage for a Progressive Vision: Emerging Issues in World Trade and Investment Law; Section I: Mapping the New Context for Trade and Investment Law; The End of Trade and Investment Law As We Know It: From Singularity to Pluralism, Poul F. Kjaer; Heterodox Market Orders in the Global Trade System, Andrew Lang; Embedded Neoliberalism and Its Discontent: The Uncertain Future of Trade and Investment Law, Sonia E. Rolland and David Trubek; Rethinking the Rcep in the Third Regionalism: Paradigm Shifts in World Trade Law?, Pasha L. Hsieh; Beyond Normal Trade Law, Robert Wai; Section II: Dealing with Major Changes in the World Economy; Trade, Distribution and Development under Supply Chain Capitalism, Dan Danielsen; The Global Rise and Regulation of Platform Firms and Markets, Jason Jackson; How Should We Think About a Global Market in Legal Cannabis?, Antonia Eliason and Rob Howse; Section III: Framing a More Equitable Investment Law Regime; Bilateral Investment Treaties: Has South Africa Chartered a New Course?, Dennis. M. Davis; Rethinking the Right to Regulate in Investment Agreements: Reflections from the South African and Brazilian Experiences, Fabio Morosini; Making Local Communities Visible: A Way to Prevent the Potentially Tragic Consequences of Foreign Investment?, Nicolás M. Perrone; Section IV: Supporting Development; Bargaining over Policy Space in Trade Negotiations, Gregory Shaffer; Trumping the IMF: Trade and Investment Treaties and the Regulation of Cross-Border Financial Flows, Kevin P. Gallagher; Section V: Reinforcing Social Protection: Spreading the Benefits of Trade, Dealing with Losses and Exploring the Trade-Immigrant Nexus; Trade Agreements in the 21st Century: Rethinking the Trade–Labor Linkage, Kerry Rittich; The New Frontier in Labor and Trade, Alvaro Santos; Restoring Trade’s Social Contract in the United States, Frank J. Garcia; Re-embedding Liberalism: Introducing ‘Passporting Fees’ for Free Trade, Thomas Streinz; Irregular Migration and International Economic Asymmetry, Chantal Thomas; Index.
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