Global Economy

LDCs are inadequately equipped to manage the socio-economic impacts of the Covid-19 pandemic; these countries have not even effectively curbed environmental pollution yet. The sustainable development goals strategies did not envisage such a pandemic and this is causing many governments to lose sight of how to manage their economic regressions. The national governments and international community therefore have to be more vigilant and proactive in ensuring that the battered global economy stabilizes after the pandemic.

To the extent that measures taken to combat Covid-19 intersect with existing trade and investment obligations for countries in the global south, and reveals the embedded tensions,  we wonder whether regional governance can or should serve as a framework to create equitable and just South-South cooperation, especially in times of crises. Regional and sub-regional organisations, if operationalised effectively, have the capabilities to pool together the financial, human, and intellectual resources that will be needed to identify interventions and responses to measures that threaten the foundations of solidarity, self-reliance and equality underpinning South-South relations.

On the 24th of March 2020, the African Export-Import Bank (Afreximbank) announced a US$3 billion facility to help its member countries weather the economic and health impacts of Covid-19. In this interview, Prof Ben Oramah, President Afreximbank, discusses this pandemic facility, the African Continental Free Trade Area, (AfCFTA) and more.

Welcome to this symposium on COVID-19 and International Economic Law in the Global South. The essays in this symposium came from Africa, Asia, Europe, the Middle East, the Caribbean, North America and Latin America. This symposium will last for a full four weeks because of the large number of good quality submissions we accepted.

The Potchefstroom Electronic Law Journal (PER/PELJ) invites contributions from authors with regard to the impact of the COVID-19 on the future regulation of foreign investment in developing states.

As social movements and civil society continues to seek support within international law in their claims for justice, the reflection on the absence of international corporate accountability mechanisms is an open field for human rights discourse dispute.

The past three decades have seen a growing scholarship on international law addressing legal and policy discussions on investment, trade, financial services and regulation, intellectual property right, tax, energy, competition law and even the environment. Despite this growth in the teaching and scholarly research of IEL, there remains question over the plurality and diversity of methodologies, voices and viewpoints in the discipline.

If Phase II negotiations on IP  will yield any positive results for West African Countries, and other regions, the discussion should begin at the regional level in ECOWAS. Finally, considering the ultimate goal of harmonising these structures on the continent (Article 3(L) Constitutive Act of the African Union), the AU’s representation is essential in these discussions, to ensure that their outcomes align with the goal of the Union.

The Guide should better take into account that land deals and their potential negative impacts go beyond contract law, and require a more consistent incorporation of human rights and environmental law. Even though strengthening legal frameworks and standards at national and international level might be outside of the Guide’s scope, it needs to be clear about the institutional and legal context that is required to protect and guarantee human rights, as well as the importance of cooperation between states, including needed regulations in commercial and administrative law at national and international levels.

At the heart of the WTO system is the commitment to the foundational principles of MFN and national treatment. But in a world predicated upon national interest and economic power, the most powerful may not consider multilateral rule-based commitments to be optimal to the achievement of their national interests. One feature of the WTO dispute settlement system is that every Member of the WTO is entitled to have their dispute determined under agreed rules. This is a basic feature of rules-based dispute settlement. The rules, impartially applied, have no regard to the economic power of the parties. The settlement of disputes by recourse to rules of general application yield outcomes that do not depend upon which member is more powerful.