The European Union and New Leading Powers: Towards Partnership in Strategic Trade Policy Areas

73 Pages Posted: 13 Feb 2009 Last revised: 25 Jun 2009

See all articles by Rafael Leal-Arcas

Rafael Leal-Arcas

Queen Mary University of London - School of Law

Abstract

This article analyzes the potential of partnerships of the European Union (EU) with the so-called BRIC countries. The scope of analysis will be the EU vis-a-vis these countries, using three types of trade liberalization: unilateralism, bilateralism/regionalism, and multilateralism. The article argues that the EU's objective of engaging with the BRIC countries on trade matters is to establish peace, security, and prosperity in the XXI century. Trade creates economic ties and generates more wealth; thus it contributes to peace and security. The article also argues that there remains substantial scope for Brazil, China, and India to make further commitments towards greater liberalization within the services sectors and within all modes of supply provided in the General Agreement on Trade in Services. Finally, it will also be argued that the attitude of the BRIC countries to multilateralism and responsibility in global governance is questionable or unclear. For example, China and Russia are already relatively powerful. India and Brazil, however, want to become more important players, they seem to lean against traditional powers (mainly the U.S.), and tend to focus on South-South regionalism.

Keywords: European Union, BRIC countries, unilateralism, bilateralism/regionalism, multilateralism, global economic governance

JEL Classification: F02, F13, F14, F15, K33

Suggested Citation

Leal-Arcas, Rafael, The European Union and New Leading Powers: Towards Partnership in Strategic Trade Policy Areas. Fordham International Law Journal, Vol. 32, pp. 345-416, 2009; Queen Mary School of Law Legal Studies Research Paper No. 23/2009. Available at SSRN: https://ssrn.com/abstract=1342741

Rafael Leal-Arcas (Contact Author)

Queen Mary University of London - School of Law ( email )

67-69
Lincoln's Inn Fields
Holborn, London WC2A 3JB
United Kingdom

HOME PAGE: http://www.ccls.qmul.ac.uk/staff/lealarcas.html

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