Asymmetric Power Relations and International Trade Law

Download or read book Asymmetric Power Relations and International Trade Law written by Inebu C. Agbo-Ejeh and published by Taylor & Francis. This book was released on 2024-12-31 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book offers an analysis of the contradictions between theory and practice in the trading system. It contextualises the colonial legal structure and its impact on the peripheral countries and their participation and gain in the multilateral trading system. The book’s core argument effectively situates Economic Partnership Agreements in the ‘systemic’ asymmetry, which characterises the relationship between developed and developing countries in global trade. It applies the idea of asymmetry to the relationship between the core countries—the EU/USA and the peripheral countries (ACP)—in the GATT, multilaterally and in the EU-ACP trade relationship, bilaterally. The book identifies that core provisions in the WTO regime such as the special and differential treatment as well as GATT Article XXIV have not lived up to expectations. Underscoring the asymmetrical participation and dominant role of former colonial powers, the book demonstrates how, although trade is generally considered a catalyst for economic growth, developed countries have safeguarded their domestic markets while exerting pressure on developing countries to liberalise and compete. The European Union has taken measures to address the development concerns of African, Caribbean, and Pacific countries through the Lomé Conventions and Cotonou Agreement; however, these relationships still retain and reinforce colonial paternalism, evidenced by recent trade agreements. An alternative possibility—multipolarity—holds promise for African countries, especially intra-African trade and critical engagement with China. The book is an invaluable resource for scholars, postgraduate students, government officials, and policymakers, as it offers a comprehensive understanding of the complexities of trade negotiations and agreements.