Oxford University Press 2019

Megaregulation Contested: Global Economic Ordering After TPP

Edited by Benedict Kingsbury, David M. Malone, Paul Mertenskötter, Richard B. Stewart, Thomas Streinz, and Atsushi Sunami

The Japan-led Trans-Pacific Partnership (CPTPP) of 2018 is the most far-reaching ‘megaregional’ economic agreement in force, with several major countries beyond its eleven negotiating countries also interested. Still bearing the stamp of the original US involvement before the Trump-era reversal, TPP is the first instance of ‘megaregulation’: a demanding combination of inter-state economic ordering and national regulatory governance on a highly ambitious substantive and trans-regional scale. Its text and ambition have influenced other negotiations ranging from the Japan-EU Agreement (JEEPA) and the US-Mexico-Canada Agreement (USMCA) to the projected Pan-Asian Regional Comprehensive Economic Partnership (RCEP).

This book provides an extensive analysis of TPP as a megaregulatory project for channelling and managing new pressures of globalization, and of core critical arguments made against economic megaregulation from standpoints of development, inequality, labour rights, environmental interests, corporate capture, and elite governance. Specialized chapters cover supply chains, digital economy, trade facilitation, intellectual property, currency levels, competition and state-owned enterprises, government procurement, investment, prescriptions for national regulation, and the TPP institutions. Country studies include detailed analyses of TPP-related politics and approaches in Japan, Mexico, Brazil, China, India, Indonesia, and Thailand. Contributors include leading practitioners and scholars in law, economics, and political science. At a time when the WTO and other global-scale institutions are struggling with economic nationalism and geopolitics, and bilateral and regional agreements are pressed by public disagreement and incompatibility with digital and capital and value chain flows, the megaregional ambition of TPP is increasingly important as a precedent requiring the close scrutiny this book presents.

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Table of Contents

Chapter 1: Introduction: The Essence, Significance, and Problems of the Trans-Pacific Partnership Benedict Kingsbury, David Malone, Paul Mertenskötter, Richard B. Stewart, Thomas Streinz, and Atsushi Sunami

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Part I: Megaregulation, Geopolitics, and Ordering Projects

Chapter 2: The Trans-Pacific Partnership as Megaregulation Benedict Kingsbury, Paul Mertenskötter, Richard B. Stewart, and Thomas Streinz

Chapter 3: The Uncertain Geostrategic Outlook for the US in Asia: The Pivot, the Rebalance, TPP, and Now What? David Malone

Chapter 4: China and TPP: A Tale of Two Economic Orderings? Jing Tao

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Part II Contesting Megaregulation: Distribution, Inequality, and Development

Chapter 5: The Politics of Expertise in Transnational Economic Governance: Breaking the Cycle Annelise Riles

Chapter 6: Class, Power, and Inequality in Megaregulation: The TPP Model B.S. Chimni

Chapter 7: The Lessons of TPP and the Future of Labor Chapters in Trade Agreements Alvaro Santos

Chapter 8: TPP and Environmental Regulation Errol Meidigner

Chapter 9: Customs Administration and Trade Facilitation: The Missing Development Agenda Antonia Eliason

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Part III Transnational Business: Global Value Chains and the Digital Economy

Chapter 10: In a World of Value Chains: What Space for Regulatory Coherence and Cooperation in Trade Agreements?, Bernard Hoekman and Charles Sabel

Chapter 11: Globally Intertwined Markets: Business Structures and International Economic Regulation, Donald Robertson

Chapter 12: TPP’s Business Asymmetries: Megaregulation and the Conditions of Competition between MNCs and SMEs, Dan Ciuriak

Chapter 13: Sales, Sourcing, or Regulation? Evidence from TPP on What Drives US Corporate Support for Trade, Iain Osgood

Chapter 14: Digital Megaregulation Uncontested? TPP’s Model for the Global Digital Economy, Thomas Streinz

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Part IV Megaregulation, the Regulatory State, and the Market

Chapter 15: Harmonization: Top Down, Bottom Up-and Now Sideways? The Impact of the IP Provisions of Megaregional Agreements on Third Party States, Rochelle Dreyfuss

Chapter 16: Thailand and Public Health: Looking Beyond the Intellectual Property Chapter in TPP, Kiyoshi Adachi

Chapter 17: Megaregulatory Administrative Law: An Instrument of Political Control, Richard B. Stewart and Paul Mertenskötter

Chapter 18: Choices and Consequences: Internationalizing Competition Policy After TPP, Daniel Francis

Chapter 19: Challenges of Opening by Megaregulation: Indonesia and Government Procurement Disciplines, Joseph Wira Koesnaidi and Wahyuni Bahar

Chapter 20: Leveraging National Regulatory Reform in Japan and the Economic Modeling of Trade Agreements, Atsushi Sunami, Kenichi Kawasaki, Yoko Ikeda, and Michael C. Huang

Chapter 21: Regulating Regulation: Impact Assessments and Trade, Michael Livermore and Jason Schwartz

Chapter 22: Trade and Exchange Rates: The Joint Declaration of the Macroeconomic Policy Authorities of TPP Countries, Naoyuki Yoshino, Pornipum Chantapacdepong, and Matthias Helble

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Part V Megaregulatory Treaty Institutions

Chapter 23: The Institutional Governance of Global Trade and Regulation: Back to the Future?, Robert Howse

Chapter 24: State-to-State Dispute Settlement in Megaregionals, Donald McRae

Chapter 25: Finding a Workable Balance between Investor Protection and the Public Interest in TPP, Chin Leng Lim

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Part VI National Politics of Megaregulatory Agreements

Chapter 26: Japan: Interest Group Politics, Foreign Policy Linkages, and TPP, Christina Davis

Chapter 27: Structuring Participation: Public Comments and the Dynamics of US Trade Negotiations, Robert Gulotty

Chapter 28: Mexican Politics of Global Trade and Law in Times of Trump: After TPP is Before TPP, Alejandro Rodiles

Chapter 29: Regional and Preferential Agreements: The Pacific and Atlantic Styles in Latin America, Rodrigo Polanco Lazo

Chapter 30: Brazil in the Shadow of TPP: Beyond the Grand Debate, Pragmatic Responses, David M. Trubek, Fabio Morosini, and Michelle Sanchez Badin

Chapter 31: India and TPP: The Emerging Scenario, Harsha Vardhana Singh

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