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Transforming World Trade and Investment Law for Sustainable Development

Transforming World Trade and Investment Law for Sustainable Development

Author: Ernst-Ulrich Petersmann
Publisher: Oxford University Press
ISBN: 9780192858023
Published In: March 2022
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

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Transforming World Trade and Investment Law for Sustainable Development explains why the 2030 UN Sustainable Development Agenda for "Transforming our World"—aimed at realizing universal human rights and the17 agreed sustainable development goals (SDGs)—requires transforming the UN and WTO legal systems, as well as international investment law and adjudication. UN and WTO law protect regulatory competition between diverse neo-liberal, state-capitalist, European ordo-liberal, and developing countries' conceptions of multilevel trade and investment regulation. However, geopolitical rivalries and trade wars increasingly undermine transnational rule of law and effective regulation of market failures, governance, and constitutional failures. Protecting the WTO legal and dispute settlement system remains essential for SDGs such as climate change mitigation measures and access to medical supplies and vaccines in global health pandemics. Investment law and adjudication must better reconcile governmental duties to protect human rights and decarbonize economies with the property rights of foreign investors.

The constitutional, human rights, and environmental litigation in Europe enhances the legal accountability of democratic governments for protecting sustainable development. However, European economic constitutionalism has been rejected by neoliberalism, China's authoritarian state-capitalism, and many developing countries' governments. The more that regional economic orders (like the China-led Belt and Road networks) reveal heterogeneity and power politics block UN and WTO reforms, the more the US-led neoliberal world order risks disintegrating. UN and WTO law must promote private-public network governance and civil society participation in order to stabilize and de-politicize multilevel governance that protects SDGs and global public goods.

Introduction

1:Overview: Sustainable Development without Democratic Governance Protecting Human Rights

2:Governance Failures: UN Law and WTO Law Fail to Protect Sustainable Development

3:Constitutional Failures: Neo-Liberal and State-Capitalist Trade Wars Undermine Sustainable Development

4:Constitutional Economics for Multilevel Economic Regulation

5:European Economic Constitutionalism: Constitutional Approaches to Sustainable Development

6:Protecting Rule of Law and Human Rights in the World Trading System

7:Rule of Law and Human Rights in Investment Arbitration: Need for Judicial Reforms

8:Judicial Overreach: Constitutional Justice Requires Multilevel Judicial Comity

Conclusion: Greening and Constitutionalizing Embedded Liberalism through Participatory Reforms