Law and Policy of International Economic Relations
Author: John Howard Jackson
Publisher: MIT Press
Category: Business & Economics
Since the first edition of The World Trading System was published in 1989, the Uruguay Round of trade negotiations has been completed, and most governments have ratified and are in the process of implementing the General Agreement on Tariffs and Trade (GATT). In the Uruguay Round, more than 120 nations negotiated for over eight years, to produce a document of some 26,000 pages. This new edition of The World Trading System takes account of these and other developments. Like the first edition, however, its treatment of topical issues is grounded in the fundamental legal, constitutional, institutional, and political realities that mold trade policy. Thus the book continues to serve as an introduction to the study of trade law and policy. Two basic premises of The World Trading System are that economic concerns are central to foreign affairs, and that national economies are growing more interdependent. The author presents the economic principles of international trade policy and then examines how they operate under real- world constraints. In particular, he examines the extremely elaborate system of rules that governs international economic relations. Until now, the bulk of international trade policy has addressed trade in goods; issues inadequately addressed by policy include trade in services, intellectual property rights, certain investment measures, and agriculture. The author highlights the tension between legal rules, designed to create predictability and stability, and the governments need to make exceptions to solve short-term problems. He also looks at weaknesses of international trade policy, especially as it applies to developing countries and economies in transition. He concludes with a look at issues that will shape international trade policy well into the twenty-first century.
Cases, Materials and Text on the National and International Regulation of Transnational Economic Relations
Author: John Howard Jackson,William J. Davey,A. O. Sykes
Publisher: West Academic
Focuses on the rules-based multilateral trading system created by GATT, as greatly expanded and elaborated by the establishment of the World Trade Organization in 1995. Particular emphasis is given to the rich and detailed jurisprudence developed by the WTO's Appellate Body. Includes the impact of international economic interdependence and the struggle of legal institutions to cope with this and other aspects of globalization. Offers a basic understanding of the international economic system as it operates in real life, and as it is constrained or aided by a number of fundamental legal institutions, including national and international constitutional documents and processes.
This is a highly readable, completely revised and updated analytical account of the mechanics of the world trading system - how it works, what it does, and why. It provides insight into the basic economic rationale for international cooperation and the political economic forces that shape the global commercial environment and that determine the rules of the game and the commitments that governments agree to through WTO negotiations. Short case studies and specificdisputes are used to illustrate the workings of the institution in practice and the interest groups that drive the WTO processes. This edition highlights the increasing role of developing countries inthe WTO. This is a book that will be of interest to teachers and students of international economics and business, international relations and economic development, government officials and business people interested in the functioning of the multilateral trading system.
Economic development is the most important agenda in the international trading system today, as demonstrated by the Doha Development Agenda (DDA) adopted in the current multilateral trade negotiations of the World Trade Organization (the Doha Round). This book provides a relevant discussion of major international trade law issues from the perspective of development in the following areas: general issues on international trade law and economic development; and specific law and development issues in World Trade Organization, Free Trade Agreement and regional initiatives. This book offers an unparalleled breadth of coverage on the topic and diversity of authorship, as seventeen leading scholars contribute chapters from nine major developed and developing countries, including the United States, Canada, Japan, China (including Hong Kong), South Korea, Australia, Singapore and Israel.
Author: Markus W. Gehring,Marie-Claire Cordonier Segger
Publisher: Kluwer Law International B.V.
In Johannesburg at the World Summit on Sustainable Development in 2002, over one hundred and eighty states assumed a collective responsibility to advance and strengthen the interdependent and mutually reinforcing pillars of sustainable development economic development, social development, an environmental protection at the local, national, regional and global levels. This remarkable collection of papers, sponsored by the Centre for International Sustainable Development Law (CISDL), demonstrates that sustainable development serves as a unifying concept with the potential to facilitate much-needed respect for international law and timely implementation of diverse and overlapping international commitments. It builds on the substance of a rich and complex debate at the intersections among economic, social, and environmental law, bringing together a broad cross-section of viewpoints and voices. The authors review recent developments in WTO discussions and negotiations, and in the recent decisions of the WTO Appellate Body, from a sustainable development law perspective. They also survey relevant new developments in trade and economic agreements at regional, inter-regional and bi-lateral levels. The various essays focus on sustainable development aspects of key issues in recent trade negotiations such as the Singapore Issues (investment, competition, trade facilitation, and government procurement), intellectual property rights, investment arbitration and the linkage between the WTO and multilateral environmental accords, (MEAand¿s).. Among the specific topics covered are the following: Emerging areas of law and policy in trade and sustainable development, The underlying development agendas in global trade law negotiations, Cooperation and potential negotiation on international competition law, Sustainable development aspects of intellectual property rights negotiations, Overlaps between multilateral environmental accords (MEAand¿s) and the WTO, Recent developments in WTO dispute settlement procedures and proceedings, Human rights and environmental opportunities from trade liberalisation and increased market acces, Human rights and environment impact assessment techniques used to analyse trade agreements, Recent developments in bi-lateral and regional trade agreements. Trade, investment, and competition law practitioners and negotiators in developed and developing countries will find this book of great value, as will development and environment law professionals with responsibility for trade and WTO law related matters. With rich contributions from leading trade law practitioners, academics, and WTO panel and appellate body roster members, Sustainable Developments in World Trade Law offers a constructive, timely and accessible expert analysis of recent discussions and advances in the field, providing an integrated and essential guide to some of the most important issues in international economic law today.
Author: Michael Trebilcock,Robert Howse,Antonia Eliason
Category: Business & Economics
Drawing on a wide variety of classic and contemporary sources, respected authors Trebilcock and Howse here provide a critical analysis of the institutions and agreements that have shaped international trade rules. In light of the growing debate over globalization, they include special sections examinations of topics such as: * agriculture * services and trade-related intellectual property rights * labor rights * the environment * migration. *competition Drawing on previous highly praised editions, this comprehensive text is an invaluable guide to students of economics, law, politics and international relations. Now fully updated, this fourth edition includes full coverage of new developments including the Doha trade round, the proliferation of preferential trade agreements, the debate on trade, climate change and green energy, the response of the trading system to the 2007-2010 financial and economic crisis, the controversy over trade and exchange rate manipulation, and the growing body of WTO dispute resolution case law.
This book discusses the law of safeguard measures as laid down in the WTO agreements and cases decided by the Panel and the Appellate Body. It sets out a comprehensive treatment of safeguard measures covering the history and evolution of the law, as well as the procedural requirements and the application of safeguard measures. In addition to measures under Article XIX and the Safeguards Agreement, the book includes coverage of safeguard measures for agricultural products, Special Safeguard Measures for developing countries, safeguard measures for textiles and proposed safeguard measures under General Agreement on Trade in Services (GATS) as well as special safeguard clauses against China. Recognition and Regulation of Safeguard Measures Under GATT/WTO considers safeguards from a developing country’s perspective drawing on Joseph E. Stiglitz’s argument that developing countries require these trade remedy measures to protect their domestic industries and ensure their development. Sheela Rai considers this view and goes on to examine how beneficial the provisions relating to safeguard measures and their interpretation given by the Panel and Appellate Body have been for developing countries.
This book provides a comprehensive guide to the competition regimes of China, Hong Kong and Taiwan. Chinese developments are placed in the context of the adoption of competition regimes by developing and transitional states worldwide and also in relation to the influence of trans-national organisations on transitional states to adopt market-based economic strategies. The book adopts an inter-disciplinary approach considering the political, economic and legal issues relevant to competition policy adoption. The paradoxical phenomenon of Communist mainland China seeking to adopt a pro-competition law, whilst capitalist Hong Kong refuses to do so, is explained and contrasted with the successful Taiwanese adoption of a competition regime over a decade ago. The underlying economic and political forces that have shaped this unusual matrix are discussed and analysed with a theoretical explanation offered for its consequences.
This book collects a large number of essays written in honour of Professor Ernst-Ulrich Petersmann by his friends, colleagues and former students. The respective contributions cover the fields of international economic law, international constitutional law/transnational constitutionalism, EU law and human rights. The broad thematic scope of this book mirrors the extremely large field of interests of the jubilarian.
After the completion of the Uruguay Round and the adoption of the 1994 agreement establishing the WTO,the place of international trade in the context of the international legal order has radically changed. International trade law has become a subject of wide-spread interest, cutting across traditional boundaries, and engaging diverse political and legal concerns. One consquence of this development is increasing concern with the legitimacy of the WTO process, which in turn has led to the WTO becoming the focus of rancorous protest by, among others, environmental NGOs, trade unions, and human rights activists. This collection of essays by leading scholars and lawyers engaged in the policy-making process, addresses the underlying tensions and dilemmas of the WTO process and its impact upon the environment and human rights in particular. The contributors search for a balance between, on the one hand, legitimate free trade interests and, on the other, the role and limits of unilateral measures as an instrument to protect non-commercial values. The essays thus range over a host of topical questions including: trade in GMOs, biosafety in intellectual property rights, technology transfer and environmental protection, trade and labour rights, child labour standards, the EU and WTO, MERCOSUR, and many other topics. The contributors include: Thomas Schoenbaum, Andrea Bianchi, Chris McCrudden, Michael Spence, Sarah Cleveland, Patricia Hansen, Riccardo Pavoni, and Francesco Francioni.
Implications for Agriculture and Rural Development
Author: Kym Anderson
Publisher: Institute of Southeast Asian Studies
The unilateral and regional (ASEAN) trade and investment liberalizations pursued by the Lao PDR during the past few years have begun transforming the economy. The next logical step is to join the World Trade Organization, an application for which was submitted in 1998. The WTO legal bindings will give traders and investors increased confidence in the Lao reform programme. This book outlines what the WTO accession process involves, what policies the Lao Government will have to change, and what the economic effects will be, particularly on rural development.
The increasing importance attached to the economic and social cohesion of the European Union since the 1980s, and the role of competition policy in achieving this objective, has special significance for the control of regional aids, given the general ban on State aid. Regional aids are considered to have the potential to contribute to economic and social cohesion and to undermine its attainment. The notion of competition policy as an instrument of economic and social cohesion has become a standard part of Commission rhetoric in defence of its actions. This book is concerned with the influence of EU competition policy on the regional policies of the Member States. It focuses on how the European Commission has interpreted the derogations from the State aid ban to enable the conduct of regional aid policies. The book takes both a historical perspective, tracing the evolution of policy, and a thematic one, examining in particular the relationship between EU competition and cohesion policies and the treatment of aid to very large projects. The author clearly demonstrates that, in reality, the competition policy control of regional aids is of much longer standing than the community?s explicit regional aid policy and, in many respects, of arguably greater influence. She shows how competition policy has for almost thirty years shaped the design, scope and implementation of national regional aid policies; in no EU country has regional policy been unaffected by Commission intervention in the name of competition policy. Moreover, the policy principles developed for the EU now apply extraterritorially to members of the European Economic Area and to the current applicant countries. The study?s overall perspective is policy-oriented. It considers both the impact of Commission intervention in the past and the implications of policy for the future, especially in the context of enlargement and a wider Europe. It will be an invaluable resource for all policymakers and practitioners active in the fields of economic development, regional policy and State aid law at European, national and subnational levels.
The United Nations is commemorating the 25th anniversary of the 1986 Declaration on the Right to Development, which proclaimed the right to be: 'an inalienable human right by virtue of which every human person and all peoples are entitled to participate in, contribute to, and enjoy economic, social, cultural and political development, in which all human rights and fundamental freedoms can be realized'. The UN now aims to mainstream the right into its policies and operational activities, and is reviewing prospects for an internationally-binding legal instrument. The evolution of the right to development, however, has been dominated by debates about its conceptual validity and practical ramifications. It has been hailed as the cornerstone of the entire human rights system and criticized as a distracting ideological initiative. Questions also persist about the role of the right in reforming the international economic order. This book examines the legal and moral foundations of the right to development, addressing the major issues. It then considers the right to development in the global economy, noting the challenges of globalization and identifying key principles such as differential treatment of developing countries, participation and accountability. It relates the right to broad objectives such as the Millennium Development Goals, the human rights-based approach to development, and environmental sustainability. Implications for international economic law and policy in the areas of trade, development finance and corporate responsibility are assessed. The conclusion looks to the legal and ethical contributions - and limitations - of the right to development in this new context. With an academic and professional background in international law, human rights and moral theology, the author brings a unique interdisciplinary focus to this timely project.
This book is the first legal treatment of tied aid and examines in detail the compatibility of tied aid with EU and WTO law. The workings of the aid projects and aid procurement systems of donor countries granting bilateral aid are fully examined through case studies from the UK, Italy, the EU and the US. Tied aid refers to aid granted to developing countries on condition that goods and services for the aid-financed projects are purchased from the donor country only. The recipient country, in order to receive the grant or the loan, has no other choice but to fulfil the condition imposed by the donor. Economists have shown that tying aid undermines the effectiveness of aid. It leads to higher costs paid for the goods and services purchased and the distortion of the nature of the aid. Further, tying frustrates the potential of aid to foster trade between developing countries - in many of these countries public bodies and, in particular, aid-financed projects are major potential outlets for trade between neighbouring states. The importance of tied aid has been pointed out in economic literature but there is surprisingly little written on the legal aspects of tied aid practices and this book seeks to fill this major gap in the literature. The book is of interest to academics in the field of EU and WTO law, NGOs and practitioners working both in the field of public procurement and development policies.
States reject inequality when they choose to ratify the International Covenant on Economic, Social and Cultural Rights (ICESCR), but to date the ICESCR has not yet figured prominently in the policy calculus behind States' international economic decisions. This book responds to the modern challenge of operationalizing the ICESCR, particularly in the context of States' decisions within international trade, finance, and investment. Differentiating between public policy mechanisms and institutional functional mandates in the international trade, finance, and investment systems, this book shows legal and policy gateways for States to feasibly translate their fundamental duties to respect, protect, and fulfil economic, social and cultural rights into their trade, finance, and investment commitments, agreements, and contracts. It approaches the problem of harmonizing social protection objectives under the ICESCR with a State's international economic treaty obligations, from the designing and interpreting international treaty texts, up to the institutional monitoring and empirical analysis of ICESCR compliance. In examining public policy options, the book takes into account around five decades of States' implementation of social protection commitments under the ICESCR; its normative evolution through the UN Committee on Economic, Social and Cultural Rights, and the Committee's expanded fact-finding and adjudicative competences under the Optional Protocol to the ICESCR; as well as the critical, dialectical, and deliberative roles of diverse functional interpretive communities within international trade, finance, and investment law. Ultimately, the book shoes how States' ICESCR commitments operate as the normative foundation of their trade, finance, and investment decisions.
The study presents a critical review on the problems stemming from the nature and scope of the WTO remedies, and highlights in a comparative perspective the lacunas and inadequacies in the substantive and procedural aspects of WTO dispute settlement system.
International Law, International Organizations and Dispute Settlement
Author: Ernst-Ulrich Petersmann
Publisher: Martinus Nijhoff Publishers
Category: Political Science
The GATT and WTO dispute settlement systems have become the most frequently used international mechanisms for the settlement of trade disputes among governments. The 1994 Agreement Establishing the WTO introduced a historically unprecedented new dispute settlement procedure for conflicts involving trade in goods and services, trade-related investment measures, and intellectual property rights. This procedure provided for the compulsory jurisdiction of the WTO Dispute Settlement Body, WTO Panels, and the WTO Appellate Body. The first 18 months from the time the WTO Agreement came into force on 1 January 1995 witnessed more than 50 invocations of the new dispute settlement procedures by a large number of countries, including many from the developing world. This large response, and the proposals for further extending the scope of WTO law, suggest that the WTO dispute settlement system will continue to be the most frequently applied, worldwide systems for the legal settlement of trade disputes among governments. This book provides students, lawyers and diplomats a thought-provoking and practice-oriented analysis of the GATT/WTO dispute settlement rules, procedures, and problems. The Annexes include a useful collection of relevant texts and tables of past GATT and WTO case law.