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This book explains the rise of China, India, and Brazil in the international trading system, and the implications for trade law.
As emerging powers deepen their involvement in world trade and global governance, it is crucial to explore the what and the why of their strategic choices vis-a-vis the World Trade Organization. This book does just that, examining the trade policy decisions of two emerging power states, Brazil and India, since 2001. In this timely work, Laura Carsten Mahrenbach develops a broad-based analytical framework which addresses trade policy within EP states, in their regions and on the global level. The findings underline the importance of examining domestic factors when trying to understand strategic decisions by emerging powers. They also have important implications for our understanding of the role of emerging power states in global (trade) governance.
The post-war liberal economic order seems to be crumbling, placing the world at an inflection point. China has emerged as a major force, and other emerging economies seek to play a role in shaping world trade and investment law. Might they band together to mount a wholesale challenge to current rules and institutions? Emerging Powers in the International Economic Order argues that resistance from the Global South and the creation of China-led alternative spaces will have some impact, but no robust alternative vision will emerge. Significant legal innovations from the South depart from the mainstream neoliberal model, but these countries are driven by pragmatism and strategic self-interest and not a common ideological orientation, nor do they intend to fully dismantle the current ordering. In this book, Sonia E. Rolland and David M. Trubek predict a more pluralistic world, which is neither the continued hegemony of neoliberalism nor a full blown alternative to it.
The world economic order has been upended by the rise of the BRIC nations and the attendant decline of the United States' international influence. In Breaking the WTO, Kristen Hopewell provides a groundbreaking analysis of how these power shifts have played out in one of the most important theaters of global governance: the World Trade Organization. Hopewell argues that the collapse of the Doha Round negotiations in 2008 signals a crisis in the American-led project of neoliberal globalization. Historically, the U.S. has pressured other countries to open their markets while maintaining its own protectionist policies. Over the course of the Doha negotiations, however, China, India, and Brazil challenged America's hypocrisy. They did so not because they rejected the multilateral trading system, but because they embraced neoliberal rhetoric and sought to lay claim to its benefits. By demanding that all members of the WTO live up to the principles of "free trade," these developing states caused the negotiations to collapse under their own contradictions. Breaking the WTO probes the tensions between the WTO's liberal principles and the underlying reality of power politics, exploring what the Doha conflict tells us about the current and coming balance of power in the global economy.
The book assesses emerging powers’ influence on international economic law and analyses whether their rhetoric of reforming this ‘unjust’ order translates into concrete reforms. The questions at the heart of the book surround the extent to which Brazil, Russia, India, China, and South Africa individually and as a bloc (BRICS) provide alternative regulatory ideas to those of ‘Western’ States and whether they are able to convert their increased power into influence on global regulation. To do so, the book investigates two broader case studies, namely, the reform of international investment agreements and WTO reform negotiations since the start of the Doha Development Round. As a general outcome, it finds that emerging powers do not radically challenge established law. ‘Third World’ rhetoric mostly does not translate into practice and rather serves to veil economic interests. Still, emerging powers provide for some alternative regulatory ideas, already leading to a diversification of international economic law. As a general rule, they tend to support norms that allow host States much policy space which could be used to protect and fulfil socio-economic human rights, especially – but not only – in the Global South.
One of the first analyses of the impact of US-China rivalry on the governance of global trade.
Why is US President Donald Trump so shockingly unorthodox in his foreign policy? How are prominent developing countries adjusting to Trump's 'America First' approach? Is Trump unintentionally a blessing in disguise for rising powers? Will the Trump effect of withdrawing America from global governance continue after him? What drives populism in the US and how is it accelerating the evolution of a 'post-American world'? What kind of arrangement is replacing the Western-led liberal international order? Trumped: Emerging Powers in a Post-American World challenges Western liberal presumptions that without America as the global policeman and financier, there would be chaos and collapse in the world or a takeover by totalitarian China. It argues that there is no need to despair about Trump's self-goal of undermining American leadership around the world because capable rising powers in different regions can fill the vacuum left by Trump's abandonment and provide order, peace, security and prosperity in their respective areas. Readers get insights into the domestic structural pressures motivating Trump's trademark foreign policy insurgency and the divisions within his 'two-track presidency' between 'nationalists' and 'globalists' which are profoundly impacting on Asia, the Middle East, Latin America and Africa. The author provides an alternative vision from the lens of powerful developing countries by arguing that the solution to a withdrawing and isolationist US is not a return to US interventionism or a China-dominated new global order but multiple 'post-American' regionally based orders.
With the United States' superpower status rivalled by a rising China and emerging powers like India and Brazil playing a growing role in international affairs, the global balance of power is shifting. But what does this mean for the future of the international order? Will China dominate the 21st Century? Will the so-called BRICS prove to be a disruptive force in global affairs? Are we headed towards a world marked by frequent strife, or will the end of Western dominance make the world more peaceful? In this provocative new book, Oliver Stuenkel argues that our understanding of global order and predictions about its future are limited because we seek to imagine the post-Western world from a parochial Western-centric perspective. Such a view is increasingly inadequate in a world where a billions of people regard Western rule as a temporary aberration, and the rise of Asia as a return to normalcy. In reality, China and other rising powers that elude the simplistic extremes of either confronting or joining existing order are quietly building a "parallel order" which complements today's international institutions and increases rising powers' autonomy. Combining accessibility with expert sensitivity to the complexities of the global shift of power, Stuenkel's vision of a post-Western world will be core reading for students and scholars of contemporary international affairs, as well as anyone interested in the future of global politics. "A fascinating interpretation of our understanding of politics and global affairs, which demonstrates the evolving nature of power today. Oliver Stuenkel presents a compelling argument - not just about the "Rise of the Rest", but also the overlooked power and influence of the non-Western world. Highly engaging and instructive." Dr Shashi Tharoor, India’s Minister of State for External Affairs (2009-10) "Oliver Stuenkel is one of the best new voices in the field of international politics. In Post-Western World, he explores the primary challenges of the global order and critiques the parochial, Eurocentric vision which conforms to international power structures. This book is essential reading for anyone seeking to understand what a multipolar world order would look like and how it might be effectively realized." Celso Amorim, Brazil’s Minister of External Relations (1993-5, 2003-11) and Minister of Defence (2011-15)
The early twenty-first century has seen the beginning of a considerable shift in the global balance of power. Major international governance challenges can no longer be addressed without the ongoing co-operation of the large countries of the global South. Brazil, Russia, India, China, South Africa, ASEAN states, and Mexico wield great influence in the macro-economic foundations upon which rest the global political economy and institutional architecture. It remains to be seen how the size of the emerging powers translates into the ability to shape the international system to their own will. In this book, leading international relations experts examine the positions and roles of key emerging countries in the potential transformation of the G8 and the prospects for their deeper engagement in international governance. The essays consider a number of overlapping perspectives on the G8 Heiligendamm Process, a co-operation agreement that originated from the 2007 summit, and offer an in-depth look at the challenges and promises presented by the rise of the emerging powers. Co-published with the Centre for International Governance Innovation
Jagdish Bhagwati, the internationally renowned economist who uniquely combines a reputation as the leading scholar of international trade with a substantial presence in public policy on the important issues of the day, shines here a critical light on Preferential Trade Agreements, revealing how the rapid spread of PTAs endangers the world trading system. Numbering by now well over 300, and rapidly increasing, these preferential trade agreements, many taking the form of Free Trade Agreements, have re-created the unhappy situation of the 1930s, when world trade was undermined by discriminatory practices. Whereas this was the result of protectionism in those days, ironically it is a result of misdirected pursuit of free trade via PTAs today. The world trading system is at risk again, the author argues, and the danger is palpable. Writing with his customary wit, panache and elegance, Bhagwati documents the growth of these PTAs, the reasons for their proliferation, and their deplorable consequences which include the near-destruction of the non-discrimination which was at the heart of the postwar trade architecture and its replacement by what he has called the spaghetti bowl of a maze of preferences. Bhagwati also documents how PTAs have undermined the prospects for multilateral freeing of trade, serving as stumbling blocks, instead of building blocks, for the objective of reaching multilateral free trade. In short, Bhagwati cogently demonstrates why PTAs are Termites in the Trading System.