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Edited by Julien Chaisse

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Edited by Stephan W. Schill, Christian J. Tams and Rainer Hofmann

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Regulatory Autonomy and the Evolution of Australia’s Participation in PTAs and BITs

The Evolution of Australian Policy on Trade and Investment

Andrew D. Mitchell, Elizabeth Sheargold and Tania Voon

Although a major proponent of multilateralism, in recent decades Australia has become an enthusiastic participant in bilateral and regional economic initiatives. This chapter provides an overview of Australia’s entry into preferential trade agreements and bilateral investment treaties, situating each generation of these agreements in its political and economic context. It examines how the scope, objectives and content of these agreements have changed over time, identifying key factors that have influenced these changes. The chapter also explains the meaning of ‘regulatory autonomy’ in this book and outlines the structure and purpose of the rest of the book. By their very nature, trade and investment agreements limit regulatory autonomy, by precluding States from implementing policies that adversely affect international trade or foreign investment. This chapter explains why services, intellectual property and investment are of particular concern for Australia, as explored in greater detail in subsequent chapters. Keywords: international economic law, investment, policy space, public international law, regionalism, trade

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Table of Treaties

The Evolution of Australian Policy on Trade and Investment

Andrew D. Mitchell, Elizabeth Sheargold and Tania Voon

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Celine Tan and Julio Faundez

The current economic and ecological climate calls for a reappraisal of the international legal and political framework governing natural resources, defined broadly to include materials and organisms naturally occurring in the environment, such as water, mineral and fossil fuels, and cultivated resources, such as food crops, both renewable and exhaustible. This reappraisal is urgent because the governance and management of natural resources have formed a pivotal backdrop to the evolution of international economic law in the post-war period and have been critical components of the process of economic globalization. Contributors to this collection explore the different dimensions of natural resource governance in the contemporary economic, political and legal landscape. They reflect upon and address the different aspects of the conflicts and contradictions arising at the intersection between international economic law, sustainable development and other areas of international law, notably human rights law and environmental law.

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Edited by Celine Tan and Julio Faundez

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Andrew D. Mitchell, David Heaton and Caroline Henckels