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Lawmaking under the Trade Constitution - A Study in Legislating by the World Trade Organization (Hardcover)
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Lawmaking under the Trade Constitution - A Study in Legislating by the World Trade Organization (Hardcover)
Series: Studies in Transnational Economic Law Set
Expected to ship within 10 - 15 working days
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The birth of the World Trade Organization (WTO) and its related
agreements at the close of the Uruguay Round marked a profound
change in the framework of principles governing world trade. The
author argues that the establishment of the WTO as a unique
transnational legislature in fact produced a fully integrated trade
constitution capable of constructing, universalising and enforcing
substantive norms of law. The changes in the world trading system
amounted to a significant shift in power from the national to the
supranational level, with the result that member states are now
disposed to exercise their sovereignty collectively in those areas
of commercial law that require global co-ordination. The author
further argues that a significant factor in the institutional
reform of the international trading system was the advent of the
information economy, and the resulting imperative to protect
intellectual property. In this respect the work lays the foundation
for an empirical understanding of the WTO constitution as a
response to the logic of intellectual property law. From a social
perspective, the book explains how the collective exercise of
sovereignty in the new world order reflects the emergence of a new
transnational civil society in which corporations, non-governmental
organisations and voluntary associations are demanding a voice in
global lawmaking. In examining the limits of the emerging trade
constitution and the challenges it is likely to face, the analysis
concludes that to find true legitimacy, the WTO and its
institutions must find ways of conforming to the democratic
principles of accountability, transparency and representation.
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