Introduction to A Research Agenda for Global Power Shifts and International Economic Law

Joel Slawotsky

A chapter in A Research Agenda for Global Power Shifts and International Economic Law, 2025, pp 1-18 from Edward Elgar Publishing

Abstract: This introduction discusses two broad themes which are likely to continue to significantly influence the global political and economic governance architecture in which international economic law (IEL) operates. One, digitalization (together with other emerging technologies which are connected to digitalization, such as artificial intelligence), is destined to transform trade, investment, and economics, in striking ways. From central bank digital currencies and digitalization of trade to digital corporate and political governance, the impact of digitalization will be massive. Two, a fraying of the international governance order marks an increasingly challenging landscape for IEL to navigate. The proximate cause of this new era of global discord and crisis is the hegemonic rivalry between the incumbent hegemon, the United States, and an ambitious challenger, China. The contest encourages the formation of various alliances and a syndicate of likeminded sovereigns cooperating to dismantle the existing “rules-based order,” as well as potentially surprising “side-switching” in the coming years. Given the unique role IEL has played in contributing substantially to a globalized and more prosperous world, the impact of these two developments on IEL are particularly important to explore. Moreover, both themes are inextricably linked and impact each other, adding additional complexity to the emerging novel questions for IEL scholars, arbitrators, counsel, governments, and businesses to traverse.

Keywords: Emerging technologies; Digitalization; Global governance; China–U.S. rivalry; International economic law; Emerging issues (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035311491
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