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Law and Economics

Osgoode Hall Law Journal

International economic integration

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Sovereignty, Economic Integration, And The World Trade Organization, Susan Hainsworth Jul 1995

Sovereignty, Economic Integration, And The World Trade Organization, Susan Hainsworth

Osgoode Hall Law Journal

Economic integration is altering the role of the state and the concept of sovereignty in international law. Intensifying economic interdependence has rendered sovereignty almost meaningless for an isolated state. However, the transfer and pooling of sovereignty in a jointly designed and mutually acceptable legalistic international institution allows state interests to be both respected and represented at the international level. After addressing the European Union model for managing advanced economic integration, the paper examines the extent to which the legal and institutional attributes of the new World Trade Organization represents a move towards a more legalistic international trade order, entailing a …