General Principles of International Economic Law in the Context of the Formation of a New Global Economic Architecture.

The article analyzes the fundamental principles of international economic law, which form the basis for regulating economic relations between states and ensuring global stability. A historical retrospective of the development of international economic law is conducted - from the first international trade agreements to the stage of forming the modern system after World War II. Particular attention is paid to the institutionalization of international economic cooperation after the creation of the Bretton Woods system, as well as the development of regulatory frameworks within the framework of the activities of the World Trade Organization, the International Monetary Fund and the World Bank. The main attention is paid to traditional norms, such as state sovereignty, sovereign equality, non-discrimination, the principle of free trade, peaceful coexistence, self-determination of peoples, peaceful settlement of disputes, conscientious fulfillment of international obligations, respect for human rights, international cooperation, free access to the sea and cooperation in trade. Particular emphasis is placed on the role of these principles in the formation of a new global economic architecture of the world, which requires a rethinking of traditional approaches to regulating the world economy. It is noted that the general principles should remain the foundation, and at the same time adapt to new realities, ensuring a balance between the national interests of states and the global goals of sustainable development. The article also analyzes how modern political steps, in particular the protectionist measures of the new administration of the President of the United States of America, can violate these principles and create instability in the global economic system. In conclusion, it is noted that international economic law is at a stage of transformation, which is determined by global economic and political processes. Keywords: international economic law, principles, new economic architecture of the world, protectionism, free trade, non-discrimination, global stability.

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Publication Details

Journal
Visnik Nacional’nogo universitetu «Lvivska politehnika» Seria Uridicni nauki
Published
2025-08-31
DOI
https://doi.org/10.23939/law2025.47.193
Primary Topic
Economic Issues in Ukraine
Type
article
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article

General Principles of International Economic Law in the Context of the Formation of a New Global Economic Architecture.

Yaryna Bohiv, Volodymyr Mykhaniv
Visnik Nacional’nogo universitetu «Lvivska politehnika» Seria Uridicni nauki
Economic Issues in Ukraine
article

General Principles of International Economic Law in the Context of the Formation of a New Global Economic Architecture.

Yaryna Bohiv, Volodymyr Mykhaniv
article en

Abstract

The article analyzes the fundamental principles of international economic law, which form the basis for regulating economic relations between states and ensuring global stability. A historical retrospective of the development of international economic law is conducted - from the first international trade agreements to the stage of forming the modern system after World War II. Particular attention is paid to the institutionalization of international economic cooperation after the creation of the Bretton Woods system, as well as the development of regulatory frameworks within the framework of the activities of the World Trade Organization, the International Monetary Fund and the World Bank. The main attention is paid to traditional norms, such as state sovereignty, sovereign equality, non-discrimination, the principle of free trade, peaceful coexistence, self-determination of peoples, peaceful settlement of disputes, conscientious fulfillment of international obligations, respect for human rights, international cooperation, free access to the sea and cooperation in trade. Particular emphasis is placed on the role of these principles in the formation of a new global economic architecture of the world, which requires a rethinking of traditional approaches to regulating the world economy. It is noted that the general principles should remain the foundation, and at the same time adapt to new realities, ensuring a balance between the national interests of states and the global goals of sustainable development. The article also analyzes how modern political steps, in particular the protectionist measures of the new administration of the President of the United States of America, can violate these principles and create instability in the global economic system. In conclusion, it is noted that international economic law is at a stage of transformation, which is determined by global economic and political processes. Keywords: international economic law, principles, new economic architecture of the world, protectionism, free trade, non-discrimination, global stability.

Visnik Nacional’nogo universitetu «Lvivska politehnika» Seria Uridicni naukiVol. 12(47)
Openalex Percentile: Top 63%
Economic Issues in Ukraine
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General Principles of International Economic Law in the Context of the Formation of a New Global Economic Architecture. — Yaryna Bohiv, Volodymyr Mykhaniv · Visnik Nacional’nogo universitetu «Lvivska politehnika» Seria Uridicni nauki (2025) | TGRS Research Map | TGRS