International Regulatory Cooperation

Abstract

AbstractInternational regulatory cooperation (IRC) was proposed as early as in the General Agreement on Tariffs and Trade (GATT) negotiations after World War II, and its concepts and definitions were first clarified by the Organization for Economic Co-operation and Development (OECD) in 2013. Through IRC, which mainly focuses on the elimination of “behind-the-border” trade barriers, countries around the world are able to facilitate investment and trade and to create a better economic and trade environment for all. Hence, IRC will play a crucial role in the new round of reconstruction and innovation of international economic and trade rules. Particularly in the post-pandemic era, the international community is paying more attention to both theoretical research and practices of IRC. Nowadays, developed countries remain the dominant actors in designing the IRC system. However, developing countries should actively engage in this process to promote the development of IRC. China, as a leading power in developing world, is actively and steadily moving forward in this regard. This chapter will first introduce the concepts, forms, characteristics, and evolution of international regulatory cooperation, and then present the IRC practices of important international organizations and their embodiment in regional agreements. It will also analyze the status quo and problems of China’s participation in IRC, and further put forward relevant approaches and countermeasures for China to solve these problems.