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18 J. World Investment & Trade 1 (2017)

handle is hein.journals/jworldit18 and id is 1 raw text is: 


                   JOURNAL  OF WORLD  INVESTMENT  &             nesoear
                                                                 dWod
 BRILL                     TRADE 18 (2017) 1-8                Investmet& Trade
NIJ HOFF                                                      brill.com/jwit


Editorial:   The   Constitutional Frontiers

of  International Economic Law

The 2016 Roll ofHonor


       The End  of Mega-Regionalism?

For the past few years, much attention in international economic law has
focused on the negotiation of so-called 'mega-regionals' - agreements, often
involving multiple parties with major economic and geopolitical importance -
and the changes they would bring to global economic governance. The Trans-
Pacific Partnership (TPP), the Transatlantic Trade and Investment Partnership
(TTIP), the Trade in Services Agreement (TiSA), the Regional Comprehensive
Economic  Partnership (RCEP), perhaps even the Canada-EU Economic  and
Trade Agreement  (CETA), are the prime examples of this type of agreement.
Yet, with the US presidential elections, the announcement of Donald Trump
to pull out of TPP as first order of business, and the likely halt of TTIP negotia-
tions, the prospect of pushing global economic governance forward through
mega-regionals has received a majorjolt.
  While the basis of Trump's future economic policy is epitomized by his rhet-
oric of 'Making America Great Again' - which sounds populistic, egocentric,
perhaps even isolationist to non-Americans - the underlying principle to put
national values first is not so much different from the political opposition to
mega-regionals elsewhere, including in Europe. Unlike in the United States,
however, opposition in Europe, just as in many quarters in Latin America, most
vocally comes from the left, not from the right - and it is coined in quite differ-
ent terms. Rather than speaking the language of nationalism, it comes in the
vocabulary of constitutional values - namely democracy, the rule of law, and
the protection of human or fundamental rights.
   Even though the European Union (EU) may have a more cosmopolitan idea
of what these constitutional principles mean than the United States - after all
these values are the basis of cooperation of EU Member States and part of the
foundational values of the EU itself,' reference to democracy, the rule of law,

1  See Article 2 of the Treaty on European Union (consolidated version) 0J C 202 (7July 2016) 13.


©  SCHILL, 2017 DOI 10.1163/22119000-12340044
This is an open access article distributed under the terms of the Creative Commons Attribution-
Noncommercial 3.0 Unported (CC-BY-NC 3.o) License.

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