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Saving The Political Consensus In Favor Of Free Trade, Timothy Meyer Apr 2017

Saving The Political Consensus In Favor Of Free Trade, Timothy Meyer

Vanderbilt Law Review

2016 was the year that the political consensus in favor of liberalized international trade collapsed. Today, across the world, voters' belief that international trade agreements lead to economic inequality threatens to derail ratification of the next generation of trade agreements and undo the substantial gains made under existing arrangements. The United States elected Donald Trump president on a platform of rolling back or renegotiating trade agreements. President Trump has moved to fulfill that promise immediately upon taking office by "unsigning" the Trans-Pacific Partnership ("TPP), the most recent major effort to liberalize global trading rules, and initiating efforts to renegotiate the …


Supernational Law, Frederic G. Sourgens Jan 2017

Supernational Law, Frederic G. Sourgens

Vanderbilt Journal of Transnational Law

Should the United States continue to enter into free trade agreements containing sovereign commitments to resolve regulatory disputes with qualifying multinational corporations before international arbitral tribunals? This question has gained public prominence due to the vocal opposition of Senator Elizabeth Warren and President Donald Trump to the Trans-Pacific Partnership (TPP), denouncing it as disastrous and corrupt.' Public outcry has focused in particular on the investor-state dispute settlement (ISDS) mechanism included in the treaty. Public criticism submits that ISDS suffers from a fatal systemic asymmetry--it favors the profit interests of multinationals over the public policy concerns of the host states in …


Eu-Acp Economic Partnership Agreements: Modern Colonialism Disguised In Violation Of The Wto, Danielle Robertson Jan 2017

Eu-Acp Economic Partnership Agreements: Modern Colonialism Disguised In Violation Of The Wto, Danielle Robertson

Vanderbilt Journal of Transnational Law

The Economic Partnership Agreements (EPAs) between the European Union and the African, Caribbean, and Pacific (ACP) nation-states are the most recent construct in a long history of developing countries' dependency and reliance on developed European countries. Even though Preferential Trade Agreements(PTAs) are widely used by countries party to the World Trade Organization (WTO), the European Union is hiding behind illusions of non-economic trade benefits, such as increased stability and health benefits, in their EPAs with ACP countries. The European Union has the economic bargaining power, creating an upper hand in the trade negotiations with the former colonial countries and other …


A Plurilateral Investment Treaty: Marrying Trade And Investment To Re-Establish A Customary International Norm, Kellie Travis Jan 2017

A Plurilateral Investment Treaty: Marrying Trade And Investment To Re-Establish A Customary International Norm, Kellie Travis

Vanderbilt Journal of Transnational Law

Despite some inherent risks, foreign direct investment (FDI) is for some the preferred method of investment. The rising number of bilateral investment treaties governing FDI is merely reflective of this investment vehicle's popularity. Since the early-nineteenth century, developed countries have sought to gain protection for investors engaging in these investment opportunities. One such protection, the Hull Doctrine, requires national governments to fully compensate investors in cases of unlawful expropriation. Until World War II, when developing countries began applying their own domestic eminent domain law to foreign investors, the Hull Doctrine was considered binding, customary international law. This Note analyzes the …


Tribunalizing Sovereign Debt: Argentina's Experience With Investor-State Dispute Settlement, Stephen K. Park, Tim R. Samples Jan 2017

Tribunalizing Sovereign Debt: Argentina's Experience With Investor-State Dispute Settlement, Stephen K. Park, Tim R. Samples

Vanderbilt Journal of Transnational Law

The global sovereign debt market, lacking a formal bankruptcy regime or binding regulatory oversight, is fundamentally shaped by the specter of conflicts between debtors that refuse to pay and holdout creditors that refuse to settle. Never was this more evident than in Argentina's most recent sovereign debt crisis, which spurred daring, innovative, and often controversial legal strategies. This Article focuses on one of the legacies of Argentina's sovereign debt crisis: the use of investor-state arbitration under international investment law to enforce sovereign bond contracts. Following Argentina's financial collapse in 2001, private creditors brought dozens of cases against Argentina before the …


How Countries Should Share Tax Information, Arthur J. Cockfield Jan 2017

How Countries Should Share Tax Information, Arthur J. Cockfield

Vanderbilt Journal of Transnational Law

Offshore tax evasion, international money laundering, and aggressive international tax planning significantly reduce government revenues. In particular, for some low-income countries the amount of capital flight (where elites move and hide monies offshore in tax havens) exceeds foreign aid. Governments struggle to enforce their tax laws to constrain these actions, and they are inhibited by a lack of information concerning international capital flows. The main international policy response to these developments has been to promote global financial transparency through heightened cross-border exchanges of tax information. The Article examines elements of optimal cross-border tax information exchange laws and policies by focusing …


The Need For Speed: Regulatory Approaches To High Frequency Trading In The United States And The European Union, Megan Woodward Jan 2017

The Need For Speed: Regulatory Approaches To High Frequency Trading In The United States And The European Union, Megan Woodward

Vanderbilt Journal of Transnational Law

High frequency trading (HFT) is a financial investment execution technique with a growing presence in world financial markets. Investment firms engaging in HFT use computer-automated algorithms to trade financial instruments at high speeds. There is much debate as to what HFT entails, particularly its risks, benefits, and costs, and whom HFT affects (positively or negatively). In particular, this Note addresses efforts in the United States and the European Union to define and regulate HFT. The proposed Regulation Systems Compliance and Integrity (Reg SCI) and Regulation Automated Trading (Reg AT) in the United States and Markets in Financial Instruments Directive II …


A Look Into The Data Privacy Crystal Ball: A Survey Of Possible Outcomes For The Eu-U.S. Privacy Shield Agreement, Emily Linn Jan 2017

A Look Into The Data Privacy Crystal Ball: A Survey Of Possible Outcomes For The Eu-U.S. Privacy Shield Agreement, Emily Linn

Vanderbilt Journal of Transnational Law

The trade relationship between the European Union and the United States, the largest cross-border data flow in the world, is in a state of uncertainty. Operating under different notions of what privacy should look like and divergent legal protections for personal data, the European Union and United States have struggled to reach a mutually acceptable agreement in the past. This Note analyzes their latest attempt, the EU-U.S. Privacy Shield, with specific emphasis on (1) the way it has improved upon its predecessor, the EU-U.S. Safe Harbor; (2) the weaknesses that still remain; and (3) the external factors that threaten the …


Paris, Panels, And Protectionism: Matching Us Rhetoric With Reality To Save The Planet, Abbey Stemler, Scott Shackelford, Eric Richards Jan 2017

Paris, Panels, And Protectionism: Matching Us Rhetoric With Reality To Save The Planet, Abbey Stemler, Scott Shackelford, Eric Richards

Vanderbilt Journal of Entertainment & Technology Law

US rhetoric has not matched reality in the free trade or sustainability contexts, as may be seen by the ongoing debates surrounding a range of behaviors that violate international trade rules. The US government's failure to adhere to the rules that it was instrumental in crafting sets a particularly troubling precedent. These trade distortions reduce trust and respect among countries and undermine efforts to combat climate change. Simultaneously, we are witnessing a growing preference for "minilateral" agreements, as may be seen in the Obama Administration's push for the Trans-Pacific Partnership and US-EU Trade Pact. This trend is likely to continue …


Saving The Political Consensus In Favor Of Free Trade, Timothy Meyer Jan 2017

Saving The Political Consensus In Favor Of Free Trade, Timothy Meyer

Vanderbilt Law School Faculty Publications

2016 is the year that the political consensus in favor of liberalized international trade collapsed. Across the world, voters’ belief that international trade agreements lead to economic inequality threatens to derail ratification of the next generation of trade agreements and undo the substantial gains made under existing arrangements. The United States elected Donald Trump president on a platform of rolling back or renegotiating trade agreements. President Trump has moved to fulfill that promise immediately upon taking office by “unsigning” the Trans-Pacific Partnership (TPP), the most recent major effort to liberalize global trading rules, and initiating efforts to renegotiate the North …


The Rcep And Trans-Pacific Intellectual Property Norms, Peter K. Yu, Peter K. Yu Jan 2017

The Rcep And Trans-Pacific Intellectual Property Norms, Peter K. Yu, Peter K. Yu

Vanderbilt Journal of Transnational Law

This Article examines the Regional Comprehensive Economic Partnership (RCEP) with a focus on the intellectual property norms that it seeks to develop. The first half of the Article focuses on the RCEP Agreement as a mega-regional agreement. It begins by briefly discussing the historical origins of the RCEP. It then explores three possible scenarios in which the RCEP Agreement will help shape trade and intellectual property norms in the Asia-Pacific region. Specifically, the Article evaluates the scenarios in which the agreement will function as a rival pact, a building block, and an alternative path. The second half of this Article …