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Plurilateralism and the New Geoeconomics of International Law

In: The Journal of World Investment & Trade
Author:
David Collins The City Law School, University of London London United Kingdom

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Abstract

Building upon the acceptance of divergence away from the multilateral geoeconomic order of the Bretton Woods, this article explores the observed and potential role for plurilateral agreements within international economic law. It contemplates some of the theoretical underpinnings of plurilateralism within international economic law, including economic efficiency, fragmentation, and network theory. From there, it examines the key iterations of plurilateralism both within and outside the World Trade Organization. The article offers an assessment of the WTO as a diplomatic forum for the negotiation of new plurilaterals, turning then to a critique of the idea of ‘convergent plurilateralism’ which postulates that overlapping elements within the megaregionals could represent a new alternative to the old era of multilateralism. The article urges that plurilateralism should not be viewed as an inferior model to multilateralism, but rather as one which is more cognizant of the complex realities of geoeconomics which characterize the modern era.

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