International Economic Relations

Abstract

For the first time the American Law Institute's Restatement on the Foreign Relations Law of the United States includes a part devoted to international economic law under the title of "Selected Law of International Economic Relations" (Part VIII of the Restatement). The inclusion of such a topic can only be commended as a recognition of the substantial growth of international economic transactions, the increasing economic interdependence across national boundaries, the economic instrument as a discreet instrument in interstate relations, and, more generally, the acceptance and significance of economic well-being as a national and international goal. The addition also should be welcomed for another reason. Perhaps more than in any other area of international law, there is an urgent need to clarify and understand the legal process in the domain of international economic law in order to explain and evaluate existing trends of decision and thereby influence future decisionmaking.