Description

This well-written and highly readable book makes a major contribution to advancing our understanding of the contribution that economics can make to analysing the impact of international trade policies for environmental risks … Regardless of the likelihood that the current WTO dispute settlement procedures can be changed in the way suggested by the authors of this book, it is essential reading for those interested in the contribution that economics can make to advancing our understanding of the implications of international trade law for environmental issues.

We live in a world that is increasingly dependent on international trade in a context of substantial regional/national political tensions. Adding to this is an emerging understanding and concern about the social impact of biosecurity and ecosystem services risks associated with such trade. As the key international trade ‘arbiter’, the World Trade Organization (WTO) has never before faced such complexity within its decision-making remit.

With increasing numbers of bilateral and regional agreements, as well as new developments emerging such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) initiated by multi-national corporations in 2018, the WTO needs to implement ways of reinforcing its legitimacy and enhancing its relevance.

This book provides an original analysis of these linked developments and delivers a timely contribution to resolving environment-related international trade disputes. It provides a clear roadmap for improving WTO trade dispute resolution procedures so both biosecurity and ecosystem services risks are considered in evaluating the social, economic and environmental impacts of international trade proposals. In so doing, the WTO should deliver enhanced multilateral social welfare.