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International Economic Law provides an intellectual umbrella to understand the fundamental relationship between global money and finance and world trade. The prevention of systemic failure is a unifying principle in the rule-oriented schemes that should govern trade and finance. Under the GATS agreement, WTO is involved in cross-border financial services issues, and the interplay between the potential liberalization of such services and the stability of the financial system requires examination. This entails a careful analysis of the institutional links between WTO and international financial institutions and a reassessment of the architecture of the international monetary system in the XXIst century.
