Communication Flows in International Economic Law:

The Challenges of the Impact of US/China Rivalry on the Development of the International Economic Order

 

International focus on the development of the International Economic Order (IEO) has lately been captured by the US/China rivalry in international economic relations. Three significant developments have emerged, which are: First, a disruption in the functioning of the IEO. Second, a displacement of the voice of the South; and third, an undermining of the pursuit of international community goals as they concern all its stakeholders. The architecture of international governance, colour and shape of international goals are being reconstructed through the skewed lenses of this great power economic rivalry. The multilateral economic institutions have failed to formulate the issues arising from the rivalry so as to set them in the wider context of their mandate. In fact, they have themselves become the victims of the collateral damage from this ‘war amongst the mighty’ and have indeed become the battle ground for the rivals. Could there however be any possibility of a metamorphosis that catapults the IEO in a more positive direction?