Juscelino Colares, the Schott-van den Eynden Professor of Business Law and a professor of political science, recently published a book he co-authored Restructuring Trade Deals.
Colares said that to avoid trade-bargain erosion, countries involved in large-scale, bilateral or regional trade arrangements must reconcile preserving close economic ties and supply chains with the need to dynamically adjust to new opportunities with other partners
The book lays the foundation for a theory of agreement restructuring in the field of international economic law. It provides a novel, much needed framework for identifying and investigating trade arrangements that are ripe for renegotiation and assessing the conditions that determine whether renegotiation is politically possible, economically feasible, and legally grounded.
The book offers a seminal contribution to the field of international economic law by combining an instrumentalist, real-world framework with a clearly articulated legal foundation, transactional deployment strategy, and sequential approach for renegotiating bilateral and regional trade arrangements, whose original terms no longer reflect the changed capabilities and interests of at least one of its sovereign parties.
The distinguished Editorial Board of Wolters Kluwer and experts in IEL (e.g., Gregory Shaffer, renowned IEL scholar and President of the American Society of International Law, etc.) gave high marks to the completed manuscript for its originality and invaluable contribution.