THE PRINCIPLE OF BALANCE: BALANCING ECONOMIC, ENVIRONMENTAL AND SOCIAL FACTORS IN THE INTERNATIONAL ECONOMIC LAW
Бодлогын судалгаа, зөвлөмж
Abstract: The study aims to develop a legal principle that can be applied either in the legislative process or as an interpretative tool in the dispute settlement of the WTO where economic, social and environmental factors come in tension detrimentally to each other. The concept of balance constitutes a constitutional fundamental in handling with the systemic relationships between three inseparable, equally legitimate interests. Integrative process of globalisation challenges the international law to develop coherent approaches that meet goals and common interests of international community. The principle of balance is therefore oriented conceptually on common values, though retaining in essence neutrality and objectivity of a legal principle. The paper suggests a balance test as a practically applicable decision-making instrument that should keep an overall integrated, systemic approach, yet with due regard to individual needs existent within any system. Furthermore, it is suggested that active co-operation and mutual harmonic complementation should be fostered between economic, social and environmental factors as they serve the same common values at the end effect.
International economic law (WTO law)
Economic, social, environmental domain
Principle of balance
Concept of justice
2004 Journal of International Economic Law, Manchester