Norms and Institutions of International Economic Relations in the Indo-Pacific. An Epitaph for International Economic Law?

Abstract

The paper presents the conclusions of an analysis of the challenges globally facing the liberal economy. The author examines the internal (its contestation in “Western” countries) and external (abuse of the law and trust by WTO members not respecting the goals and principles of the organization) challenges. Regarding external challenges, the focus here is on the initiative to build a new order in the Indo-Pacific region. The thesis that as a consequence of the “West’s” assessment that the international economic legal regime is an ineffective tool for regulating the LIEO and its willingness to sustain the LIEO, the West decided to replace the legal regime with another one, and was positively verified.  The study closes with a forecast of the evolution of the regional economic order and its links to the world economy.