19th October 2012
In the last two decades the process of globalization significantly influenced the process of world integration. Economic, technological, cultural and legal aspects of globalization have considerably reshaped the world, making it more interconnected and interdependent. Globalization has also propelled legalization of world affairs. On one hand international law moved in the way of 'humanity law' with a bigger emphasis on the role of individuals and peoples at the international level. On the other hand, however, the role of international economic law has never been more important than nowadays. We witness an increasing use of trade and investment dispute settlement mechanisms (WTO, ICSID, investor-state arbitration) with high stakes and financial awards involved. Nevertheless, the global economic architecture does not seem to be capable of regulating the negative side effects of globalization. The current global crisis thus prompts us to reflect on the following questions. Is there a gap between world economic and legal integration? Could existing mechanisms in international economic law contribute to the world application of the rule of law and constrain negative economic effects of globalization? Does the emerging global legal pluralism provide an adequate framework for the efficient global economic governance? The event, which will host distinguished experts in international economic law, will attempt to provide answers to these questions from theoretical and practical perspectives.
A report from this event is available to read here.
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BIICL has recently worked with the German public body, the Gesellschaft fur internationale Zusammenarbeit (GIZ) on a collective redress project....