Book contents
- Emerging Powers in the International Economic Order
- Cambridge International Trade and Economic Law
- Emerging Powers in the International Economic Order
- Copyright page
- Contents
- Tables
- Preface
- Table of Treaties and Conventions
- Table of Cases
- WTO Cases
- Abbreviations
- 1 Introduction
- 2 Cooperation Narratives and Theoretical Divergences
- 3 Developing Countries’ Love–Hate Relationship with Neoliberalism
- 4 Seeking a New Balance of Rights and Obligations in International Investment Law
- 5 Emerging Economies, Developmental Strategies and Trade Standards: the Search for Alternative Space
- 6 Emerging Economies and the Future of the Global Trade and Investment Regime
- Bibliography
- Government Sources
- Index
3 - Developing Countries’ Love–Hate Relationship with Neoliberalism
Published online by Cambridge University Press: 22 July 2019
- Emerging Powers in the International Economic Order
- Cambridge International Trade and Economic Law
- Emerging Powers in the International Economic Order
- Copyright page
- Contents
- Tables
- Preface
- Table of Treaties and Conventions
- Table of Cases
- WTO Cases
- Abbreviations
- 1 Introduction
- 2 Cooperation Narratives and Theoretical Divergences
- 3 Developing Countries’ Love–Hate Relationship with Neoliberalism
- 4 Seeking a New Balance of Rights and Obligations in International Investment Law
- 5 Emerging Economies, Developmental Strategies and Trade Standards: the Search for Alternative Space
- 6 Emerging Economies and the Future of the Global Trade and Investment Regime
- Bibliography
- Government Sources
- Index
Summary
Rather than a wholesale rejection of neoliberalism, emerging powers are engaging in policy eclecticism: adopting some of the tenets of liberal ordering while rejecting others, applying liberal disciplines asymmetrically in pursuit of strategic self-interest, creating other fora for negotiations and adopting different regulatory priorities. In this chapter, we examine how emerging countries’ discontent with the status quo transpired, and what is left of the liberal ordering in the practice of emerging countries. The first part assesses how developing countries are utilizing WTO law to further their own economic policies, but also denotes how they are strategically breaching some rules and resisting the adoption of new disciplines. The second part analyzes how and why bilateral investment treaties and related institutions are falling out of favor with emerging countries after the initial wave of adoption of these instruments. This chapter highlights the tensions between emerging countries’ developmental policies and IEL, along with the more specific clashes that have transpired in recent decades in their practice of trade and investment law.
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- Emerging Powers in the International Economic OrderCooperation, Competition and Transformation, pp. 34 - 74Publisher: Cambridge University PressPrint publication year: 2019