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Overview
This timely book offers proposals for a new positive regulatory framework for international business aimed at reducing poverty and promoting sustainable developments. It examines the flaws in neo-liberal strategies underpinning the recent phase of globalization, especially the lessons from the MAI. It also explores possible forms of international regulation and suggests concrete policy proposals.Synopsis
This timely book arose from a seminar Rights and Responsibilities: New Approaches to International Business Rules, organized by the International Business Regulation Forum with Oxfam GB. It points the way towards a positive regulatory framework for International investment following the failure of the Multilateral Agreement on Investment (MAI). It examines the flaws in free-market strategies underpinning the recent phase of globalization, in particular drawing out the lessons from the MAI, suspended in October 1998. Contributors explore an alternative based on a positive regulatory framework for international business, aimed at maximizing the positive contribution to development of foreign investment and minimizing its negative social and environmental impacts. The contributors include academics, researchers for non-governmental organizations, and business and trade-union representatives, writing from a combination of economic, legal, and political perspectives. The book combines academic analysis with grassroots and practical experience, and suggests concrete policy proposals.
Booknews
Arguing that increased global economic integration and interdependence needs to be underpinned by a strengthened international regulatory framework, this collection of 14 articles is arranged in four sections addressing a historical and critical evaluation of international investment protection and liberalization; a broader agenda, including the implications of the MAI for use of natural resources and land, improving investor accountability, and labor regulations in international markets; interactions between formal and informal regulations such as the role of voluntary codes of conduct and regulation and corporate codes of conduct; and the politics of accountability. Contributors include international legal, development, economic, policy, and other scholars and foundation leaders. Annotation c. Book News, Inc., Portland, OR (booknews.com)