This course is part of the 2024 Augsburg Summer Program and will be held by Prof. Sungjoon Cho (Chicago-Kent College of Law, USA).
This course explores the international economic relations against the background of the recent geopolitical developments. It is divided into five parts. First, it addresses the basic legal and institutional aspects of the World Trade Organization (WTO). The WTO system constitutes rudimentary trade and investment policies by global economies. Second, it discusses both the causes and effects of the recent United States – China trade war. It characterizes those causes and effects of the trade war through the analytical lens of a “constitutional crisis” of the WTO system. Third, this course probes the regional economic dynamics. It first situates economic regionalism against the backdrop of global value chains (GVCs). It then discusses the WTO regulation of regional trading blocs as well as major mega-regional trading agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP). Fourth, this course examines the European trade and investment policies in the face of new challenges, including climate change and decoupling. It discusses the European Union (EU) policy responses to these challenges and evaluate them from both legal and political perspectives. Fifth, this course expands the scope of discussion into the broader geopolitical dimensions. It explores both challenges to and responses by global economies in relation to ever-intensifying global uncertainties incurred by Russia’s invasion to Ukraine and other geopolitical turmoil.
