Transforming World Trade and Investment Law for Sustainable Development explains why the 2030 UN Sustainable Development Agenda for "Transforming our World"--aimed at realizing universal human rights and the17 agreed sustainable development goals (SDGs)--requires transforming the UN and WTO legal systems, as well as international investment law and adjudication. UN and WTO law protect regulatory competition between diverse neo-liberal, state-capitalist, European ordo-liberal, and developing countries' conceptions of multilevel trade and investment regulation. However, geopolitical rivalries and trade wars increasingly undermine transnational rule of law and effective regulation of market failures, governance, and constitutional failures. Protecting the WTO legal and dispute settlement system remains essential for SDGs such as climate change mitigation measures and access to medical supplies and vaccines in global health pandemics. Investment law and adjudication must better reconcile governmental duties to protect human rights and decarbonize economies with the property rights of foreign investors. The constitutional, human rights, and environmental litigation in Europe enhances the legal accountability of democratic governments for protecting sustainable development. However, European economic constitutionalism has been rejected by neoliberalism, China's authoritarian state-capitalism, and many developing countries' governments. The more that regional economic orders (like the China-led Belt and Road networks) reveal heterogeneity and power politics block UN and WTO reforms, the more the US-led neoliberal world order risks disintegrating. UN and WTO law must promote private-public network governance and civil society participation in order to stabilize and de-politicize multilevel governance that protects SDGs and global public goods.

About the Author
Ernst-Ulrich Petersmann is Emeritus Professor at the European University Institute. He has taught constitutional, international, and European law at Universities in Germany, Switzerland, Italy, the USA, Latin-America, South-Africa, China, India, and Singapore. Professor Petersmann represented Germany in European and UN institution, as well as working as legal consultant for the WTO and chairman of the International Trade Law Committee of the International Law Association (1999-2014).

Reviews
This sweeping and ambitious volume argues in favour of legal and constitutional reform of the UN and international economic law in order to promote attainment of the Sustainable Development Goals...infused with deep knowledge of international economic law and practice, and of the geopolitical tensions of our times, this book is a call for international institutions to put the interests of people rather than governments first. * Joanne Scott, Head of the Law Department, European University Institute *
With sweeping scope and penetrating depth, Prof. Petersmann identifies critical problems, highlights the institutional weaknesses of trade and investment law and adjudication, and lays out an agenda for multilevel, transformative changes that would better align the trading and investment systems with the global community's action commitments on climate change. * Daniel C. Esty, Hillhouse Professor of Law, Yale University *
This excellent monograph offers a comprehensive and interdisciplinary exploration of how legal and constitutional reforms can contribute to overcome the geopolitical rivalries paralyzing the effective tackling of collective action dilemmas. * Armin Steinbach, Journal of World Investment & Trade 24 *



Book Information
ISBN 9780192858023
Author Ernst-Ulrich Petersmann
Format Hardback
Page Count 368
Imprint Oxford University Press
Publisher Oxford University Press
Weight(grams) 674g
Dimensions(mm) 242mm * 162mm * 26mm