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International Trade Regulation: Evolving Dynamics and Shifting Foundations [Hardback]

(Western Sydney University, Australia), (Victoria, Australia)
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The international trade regulatory system is a dynamic system that has been evolving throughout its history. This book examines the evolving dynamics in international trade regulation from the conclusion of GATT in 1947 to the current crisis facing the WTO.

The international trade regulatory system is a dynamic system that has been evolving throughout its history. Tension and conflict are part of the system. While calls for the abolition of the principal trade regulation authority, the WTO, have failed to understand this nature of the system, proponents for reforms have so far not paid sufficient attention to the evolving nature of tension and conflict. This book examines the evolving dynamics in international trade regulation from the conclusion of GATT in 1947 to the current crisis facing the WTO, from a perspective of emerging powers of developing countries with a focus of China as the latest force that demands reforms of the international trade regulatory regime.

There is an extensive body of scholarship on ideological struggles, the rise of developing countries, geopolitical contest, the emerging powers (especially China), the use, misuse or abuse of trading rules and so on. There is, however, a lack of a single concise research book that synthesises these underlying causes and factors into a coherent and precise analytical theme. This book attempts to fill this research gap by building upon the existing scholarship and placing the various tensions and conflicts in a perspective that treats them as dynamic factors that have propelled a continuing process of evolution of the international trade regulation.

The book will interest those researching on international trade regulation as well as development studies.

The Open Access version of this book, available at www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non-Commercial-No Derivatives 4.0 license.

Preface and Acknowledgement viii
List of Abbreviations
xii
Introduction 1(6)
1 Three Struggles - Old and New in the Name of Pursuing Freer and Fairer Trade
1(1)
2 A Matter of Perception
2(2)
3 Structure of the Book
4(3)
1 Freer Trade: GATT/WTO and the Foundation of Post-War International Economic Order
7(22)
1 Introduction
7(1)
2 The Emergence of the Post-War International Trade Regulatory Regime
8(2)
3 The Liberal Foundation of the Post-War International Economic Order
10(6)
4 GATT as an Evolving Mechanism
16(2)
5 Seeds of Contention: The Uruguay Round and a Transformed System
18(7)
5.1 Transformation and Expansion
18(3)
5.2 Seeds of Contention
21(3)
5.3 The Liberal Foundation Maintained
24(1)
6 Conclusion
25(4)
References
26(3)
2 Fairer Trade: Developing Countries and the NIEO
29(20)
1 Introduction
29(2)
2 Developing Countries in Context
31(2)
3 The NIEO and Early Challenges to GATT Foundational Principles
33(2)
4 GATT/WTO Approach to and Mechanisms for Developing Countries
35(4)
4.1 Towards a Differential and More Favourable Treatment
35(3)
4.2 Back to Non-discrimination & Liberalisation
38(1)
5 A Failed Challenge
39(3)
6 Fairer Trade: Between a Political Right and a Trading Rule
42(2)
7 Conclusion
44(5)
References
45(4)
3 Regional Trade Agreements: Complementary or Geopolitical
49(24)
1 Introduction
49(1)
2 GATT/WTO and RTAs
50(2)
3 The Rising Powers and the New Challenge to International Economic Order
52(3)
4 The Doha Stalemate (and Failure) and the Shift to RTA
55(3)
5 The RTA Showdown and the Disintegration of International Economic Order?
58(3)
6 From Asia-Pacific to Indo-Pacific - The Naked Geopolitical Rivalry
61(3)
7 Conclusion
64(9)
References
66(7)
4 Geopolitical and Geo-Economic Manoeuvring: The Rise of China
73(27)
1 Introduction
73(1)
2 Geopolitical Strategy: The Belt and Road Initiative (BRI)
74(6)
2.1 BRI as Controversial Infrastructural Investment Projects
74(2)
2.2 The BRI Born as a Geopolitical Strategy
76(4)
3 Geo-Economic Manoeuvring
80(1)
4 Global Governance: Reform or Rejection
81(5)
5 The Greatest Challenge Yet: State Capitalism and the Rise of Protectionism
86(2)
6 Conclusion
88(12)
References
89(11)
5 Against the Law of the Jungle: The Need for Efficient, Effective and Impartial Dispute Resolution
100(21)
1 Introduction
100(1)
2 From Power-Based Mechanisms to Adjudication among Equals
101(4)
3 From the Crown Jewel to a Crown of Thorns
105(3)
4 Law of the Jungle and the Power of the Powerful
108(6)
5 Conclusion
114(7)
References
115(6)
Conclusion
121(4)
1 The Future of the International Economic Order
121(3)
2 A Dynamic System and its Means to Survival
124(1)
References 125(2)
Index 127
Zhiqiong June Wang is Associate Professor at the School of Law, Western Sydney University, Australia.

Jianfu Chen is Emeritus Professor at La Trobe University and Honorary Professorial Fellow at Melbourne University, Australia.