Abstract: After examining the nature of international economic law， it is found that， different from international commercial law and international law， international economic law mainly functions to protect the civil economic rights by regulating the national economic sovereignty. However， at the same time， international economic law should also be formulated and executed with a certain flexibility so as not to become a tool for great powers to violate weak states. By analyzing the relationship between international economic law and domestic economic law， it is argued that the monism and dualism of international economic law cannot meet the demand for setting up a new international economic order. The international society should consider building a good communication mechanism and maximizing the international and domestic economic preferences by means of policy balance.

Key words: international economic law, domestic economic law, policy balance, economic preference