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Full-Text Articles in Law
Proposal For A New Regulation Of Speculation In Sovereign Debt, Justin Vanderschuren
Proposal For A New Regulation Of Speculation In Sovereign Debt, Justin Vanderschuren
Fellow, Adjunct, Lecturer, and Research Scholar Works
Over the past few years, several countries have undertaken to regulate the speculation in sovereign debt pursued by so-called “vulture funds.” The various realizations and attempts present a series of loopholes that make a new regulation of this speculation advisable. A proposal for a new regulation, legally justified and precisely framed, is all the more desirable given that some legislators, in particular from the New York State Legislature, have recently taken up the issue of speculation.
Debt sustainability is the only realistic regulation benchmark. It is inconceivable to ban debt purchases on the secondary market as this would significantly impact …
Evaluating Financial Integration And Cooperation In The Asean, Brendan Harvey
Evaluating Financial Integration And Cooperation In The Asean, Brendan Harvey
Michigan Business & Entrepreneurial Law Review
Financial integration is less pronounced in the ASEAN than other mea-sures of economic integration. This is particularly apparent when com-pared against other regions that have undergone similar integrative efforts, such as the European Union. Cross-border trade flows, foreign-direct in-vestment, and investment in capital goods outstrip other investment flows. Regional institutional and legal structures governing these investment flows, while limited, present marked achievements towards creating an ASEAN financial community. The gap persists despite suggestions that the Asian Financial Crisis and the Global Financial Crisis (or the North Atlan-tic Financial Crisis from the Asian and Stiglitz perspective) would acceler-ate financial regionalism as …
Uncertainty, Precaution, And Adaptive Management In Wildlife Trade, Annecoos Wiersema
Uncertainty, Precaution, And Adaptive Management In Wildlife Trade, Annecoos Wiersema
Michigan Journal of International Law
Wildlife trade is big business. Legal international trade in just some of the wild animals and plants traded worldwide is estimated at $350 to $530 million per year. The United States is the primary importer of virtually every major taxon of these species, including mammals, reptiles, fish, and plants. When it comes to illegal trade, estimates of its value range from $7 to $23 billion annually, covering wild animals, fish, and timber. This illegal trade fuels organized crime and militia and terrorist groups. In the face of all this pressure, some wild species appear to be traded in sustainable amounts. …
Measures With Multiple Purposes: Puzzles From Ec-Seal Products, Donald H. Regan
Measures With Multiple Purposes: Puzzles From Ec-Seal Products, Donald H. Regan
Articles
European Communities—Measures Prohibiting the Importation and Marketing of Seal Products is the first case in which the dispute system of the World Trade Organization (WTO) has wrestled with a regulation that pursued multiple conflicting, legitimate purposes. (I will explain later why Brazil—Retreaded Tyres is not such a case.) This generates puzzles about applying the definition of a “technical regulation” to complex measures; about whether an exception to a ban can be justified by a purpose different from that of the ban; and about how to apply “less restrictive alternative” analysis to measures with multiple goals. The first of these puzzles …
United States--Certain Measures Affecting Imports Of Poultry From China: The Fascinating Case That Wasn't, Donald H. Regan
United States--Certain Measures Affecting Imports Of Poultry From China: The Fascinating Case That Wasn't, Donald H. Regan
Articles
US–Poultry (China) was the first Panel decision dealing with an origin-specific SPS measure, or with what the United States referred to as an ‘equivalence regime’. More specifically, it was the first instance in which the basis for the challenged measure was the claimed inability of the complainant country to enforce its own food-safety rules. Unfortunately, as the litigation developed, the very interesting novel issues raised by such a measure were not discussed. This essay discusses those novel issues – in particular, what sort of scientific justification or risk assessment should be required for a measure like this, and what SPS …
Conserving Marine Wildlife Through World Trade Law, Eric A. Bilsky
Conserving Marine Wildlife Through World Trade Law, Eric A. Bilsky
Michigan Journal of International Law
Part I of this Essay marshals the evidence that fisheries around the world are in peril from destructive fishing practices. Part II argues that most fisheries management regimes are ineffective at counteracting the political pressures and economic incentives that lead to unsustainable fishing. Part III makes the case that government subsidies are major enablers of overfishing. The fourth and final Part discusses the continuing efforts to use international trade regulation to eliminate overfishing subsidies and halt the collapse of the world's marine fish populations.
Regulatory Purpose And 'Like Products' In Article Iii:4 Of The Gatt (With Additional Remarks On Article Iii:2), Donald H. Regan
Regulatory Purpose And 'Like Products' In Article Iii:4 Of The Gatt (With Additional Remarks On Article Iii:2), Donald H. Regan
Book Chapters
In EC-Asbestos the Appellate Body has told us that (l) in interpreting Article III:4 of the GATT, we must take explicit account of the policy in Article III: l that measures should not be applied "so as to afford protection to domestic production" [hereafter just "so as to afford protection"]. In Chile- Alcohol the Appellate Body has told us that (2) in deciding whether a measure is applied "so as to afford protection," we must consider "the purposes or objectives of a Member's legislature and government as a whole"- in other words, the regulatory purpose of the measure. Chile- Alcohol …
Offshore Outsourcing And Worker Rights, Theodore J. St. Antoine
Offshore Outsourcing And Worker Rights, Theodore J. St. Antoine
Articles
For the workers in the Rust Belt of the United States, concentrated in Southern New England, Western New York State, Pennsylvania, Ohio, Michigan, Indiana, and Illinois, it doesn't make much difference whether their jobs are outsourced or lost to North Carolina or Mexico or China. In any event the sources of income that have existed for generations are gone and the economic and psychic pains are much the same. Nonetheless, for purposes of national policy it plainly matters whether the work is moving to another part of the country or is leaving the United States entirely. I am going to …
Methods Of Power For Development: Weapons Of The Weak, Weapons Of The Strong, John Braithwaite
Methods Of Power For Development: Weapons Of The Weak, Weapons Of The Strong, John Braithwaite
Michigan Journal of International Law
Peter Drahos and John Braithwaite conducted a study during the 1990s on global business regulation, interviewing more than five hundred key players in approximately twenty globalizing business regulatory regimes. Results from that study are used in this paper to inform the identification of seven elements of American power in global governance. The paper then poses the question whether those elements can be acquired by developing countries.
Wto And Gmos: Analyzing The European Community's Recent Regulations Covering The Labeling Of Genetically Modified Organisms, Brian Schwartz
Wto And Gmos: Analyzing The European Community's Recent Regulations Covering The Labeling Of Genetically Modified Organisms, Brian Schwartz
Michigan Journal of International Law
This Note explores the compatibility of the EC's GMO regulations within the framework of the Agreement on the Application of Sanitary and Phytosanitary Measures ("SPS Agreement"), the Agreement on Technical Barriers to Trade ("TBT Agreement"), and the General Agreement on Tariffs and Trade 1994 ("GATT 1994" or "GAT"), all integral parts of the WTO Agreement. Part II presents arguments for or against the use of GM-products. Part III explores the concept of ecolabeling by analyzing the general goals of such programs, including the economic theory behind green consumerism and the characteristics necessary for effective schemes. Part IV describes the core …
The Importance Of Core Labor Rights In World Development, Jonathan P. Hiatt, Deborah Greenfield
The Importance Of Core Labor Rights In World Development, Jonathan P. Hiatt, Deborah Greenfield
Michigan Journal of International Law
This Article discusses the meaning and significance of core labor standards and the importance of linking them to trade agreements. It explains why the "protectionist" label often attributed to such linkage efforts by their detractors is misleading, as the example of China illustrates, repression of labor rights constitutes a form of unfair competition which undermines efforts to create a more just and stable world economy.
Like Father, Like Son: A Progeny Of The Antidumping Model For The Shipbuilding Industry, Seung Wha Chang
Like Father, Like Son: A Progeny Of The Antidumping Model For The Shipbuilding Industry, Seung Wha Chang
Michigan Journal of International Law
This Article is organized in the following manner: Part II introduces the OECD Secretariat's proposed pricing mechanisms based on the IPC antidumping model, while Part III provides for a critical evaluation of the proposed pricing mechanisms. First, Part III explains the reasons why the IPC antidumping model does not fit the shipbuilding industry due to the unique characteristic of the shipbuilding market. This Part thereafter demonstrates why the antidumping regime, as well as the proposed pricing mechanism, cannot be justified under the competition policy standards. While criticizing defenses for the current antidumping regime, Part III demonstrates why the proposed pricing …
Assessing Clashes And Interplays Of Regines From A Distributive Perspective: Ip Rights Under The Strengthened Embargo Against Cuba And The Agreement On Trips, Robert Dufresne
Michigan Journal of International Law
This Article examines the clash of the two regulatory frameworks from the angle of distributive justice. By doing so, I suggest that in addition to the important issues of legitimacy, substantive norms, and hierarchy of legal orders, clashes between potential regulatory frameworks should also be conceptualized in the way in which they allocate goods (here the rights associated with IP) or recognize claims to or interests in such goods. The reasons for being concerned with distributive justice are threefold.
Further Thoughts On The Role Of Regulatory Purpose Under Article Iii Of The General Agreement On Tariffs And Trade: A Tribute To Bob Hudec, Donald H. Regan
Further Thoughts On The Role Of Regulatory Purpose Under Article Iii Of The General Agreement On Tariffs And Trade: A Tribute To Bob Hudec, Donald H. Regan
Articles
My topic in this article is the role of regulatory purpose under Article III of the GATT, and I regard Bob [Hudec] as the patron saint of efforts to establish the relevance of purpose. His famous "Requiem for an 'Aims and Effects' Test" may have been called a requiem, but it was reluctant and sceptical. Bob thought dispute settlement tribunals ought to consider the regulator's purpose, and he thought they would do so, whatever they said. As decisions on Article III accumulate, we are in the process of learning that he was right on both counts.
Regulatory Purpose And 'Like Products' In Article Iii:4 Of The Gatt (With Additional Remarks On Article Ii:2), Donald H. Regan
Regulatory Purpose And 'Like Products' In Article Iii:4 Of The Gatt (With Additional Remarks On Article Ii:2), Donald H. Regan
Articles
In European Communities-Measures Affecting Asbestos and Asbestos-Containing Products (EC-Asbestos) the Appellate Body has told us that (1) in interpreting Article 111:4 of the General Agreement on Tariffs and Trade (GATT), we must take explicit account of the policy in Article 111:1 that measures should not be applied "so as to afford protection to domestic production" [hereafter just "so as to afford protection"]. In Chile--Taxes on Alcoholic Beverages (Chile--Alcohol) the Appellate Body has told us that (2) in deciding whether a measure is applied "so as to afford protection", we must consider "the purposes or objectives of a Member's legislature and …
The New Rules On Cross-Border Tender And Exchange Offers, Business Combinations And Rights Offerings: Competition Or Harmonization?, Julian T. Perlmutter
The New Rules On Cross-Border Tender And Exchange Offers, Business Combinations And Rights Offerings: Competition Or Harmonization?, Julian T. Perlmutter
Michigan Journal of International Law
This note introduces the Cross-Border Rules in the context of the rapidly changing securities markets and highly competitive regulatory systems noted above. It addresses the elements and impact of internationalization on cross-border tender offers and the modern U.S. regulatory response. The SEC has avoided any public moves to harmonize the U.S. system with those of other major capital markets and has instead made incremental changes aimed at maintaining the system's perceived strengths. The Cross-Border Rules represent a somewhat ungainly attempt to placate U.S. investors by bending the Williams Act tender offer rules using exemptions for certain transactions.
Executive-Branch Rulemaking And Dispute Settlement In The World Trade Organization: A Proposal To Increase Public Participation, Aubry D. Smith
Executive-Branch Rulemaking And Dispute Settlement In The World Trade Organization: A Proposal To Increase Public Participation, Aubry D. Smith
Michigan Law Review
This Note argues that, because the Executive Branch increasingly will be promulgating domestic regulatory rules intended to comply with the rules of the world-trading system, it is necessary to increase formal oversight of the Executive Branch's role in that context. Part I argues that the United States' participation in the WTO implies a substantial increase in the impact of foreign policy on domestic policy. Part II points out a loophole in Congress's attempt to compensate for this increase by installing various devices to ensure political oversight of the Executive: the Executive Branch is subject, under the Uruguay Round Agreements Act …
The Legal Environment Of International Finance: Thinking About Fundamentals, Merritt B. Fox
The Legal Environment Of International Finance: Thinking About Fundamentals, Merritt B. Fox
Michigan Journal of International Law
Review of International Finance: Transactions, Policy, and Regulations by Hals S. Scott and Philip A. Wellons
World Trade And The Environment: The Cafe Case, Eric Phillips
World Trade And The Environment: The Cafe Case, Eric Phillips
Michigan Journal of International Law
This Note examines the CAFE case in the context of the debate over trade and the environment. It argues that the panel decision has aspects that support the notion that the international trading system can be compatible with efforts to protect the environment, and also has aspects that demonstrate that these do indeed clash, limiting efforts to protect the environment. Part I of this Note describes the CAFE law and places it in the context of domestic and international efforts to prevent global warming. Part II examines the panel's decision, arguing that the panel acted well within the scope of …
U.S. Government Control Over The Export Of Scientific Research And Other Technical Data: Holes In The Sieve, Robert Greenspoon
U.S. Government Control Over The Export Of Scientific Research And Other Technical Data: Holes In The Sieve, Robert Greenspoon
Michigan Journal of International Law
In Part I, I establish the backdrop for answering the question by describing the kinds of scientific data that might be subject to security classification and export licensing. In Part II, I outline briefly who chooses what should be restricted and who enforces these restrictions. In Part III, I describe several situations in which the federal government has vigorously enforced controls over the dissemination of scientific information. I also analyze two recent cases involving computer software that I believe analogize directly to the scientific endeavor. Finally, in Part IV, I explain why First Amendment barriers, the growth of the Internet …
Ec Customs Classification Rules: Should Ice Cream Melt?, Edwin A. Vermulst
Ec Customs Classification Rules: Should Ice Cream Melt?, Edwin A. Vermulst
Michigan Journal of International Law
This Article will demonstrate that these classification conflicts seldom have definitive solutions by examining European Community (EC or Community) classification rules in light of the international framework. This approach is justified because the EC's customs classification system, centered on the Combined Nomenclature (CN), is based on the most commonly used international system of classification, the Harmonized System (HS).
International Trade And Investment Regulation: Developing Jurisprudence In Taiwan, Paul S.P. Hsu
International Trade And Investment Regulation: Developing Jurisprudence In Taiwan, Paul S.P. Hsu
Michigan Journal of International Law
Past and present economic development in the Republic of China has provided a model for a successful experiment whereby a society under a workable economic and social system with very limited natural resources makes the most of what it has. Yet, the momentum of the development will not permit the R.O.C. to rest at its present stage or to reminisce about past achievements. Clearly, many more stages of economic development lie ahead. Other industrially advanced nations that operate under similar limitations, such as the Netherlands, Sweden, and Switzerland, have higher per capita income, better quality of life, and a more …
Regulation And Liberalization Of Imports And Foreign Investment And The Role Of Trade Actions In The Republic Of Korea, David A. Laverty
Regulation And Liberalization Of Imports And Foreign Investment And The Role Of Trade Actions In The Republic Of Korea, David A. Laverty
Michigan Journal of International Law
The Republic of Korea is well-known for its exceptionally successful export-driven economy and for the role of the Korean government in actively pursuing policies which have fostered the growth of Korean industry and the penetration of Korean products in the international marketplace. This rapid penetration of Korean products has been a source of tension among Korea's trading partners as they have sought to respond to calls from their domestic-industry constituencies for protection from the increased importation of Korean products. However, less well-known and of increasing significance to Korea itself and to the international community is not the outflow of Korean …
Perspectives On The Jurisprudence Of International Trade: Costs And Benefits Of Legal Procedures In The United States, John H. Jackson
Perspectives On The Jurisprudence Of International Trade: Costs And Benefits Of Legal Procedures In The United States, John H. Jackson
Michigan Law Review
In this brief article I will confine myself to an analysis of the U.S. legal system pertaining to regulation of imports, deferring to other works an exploration of similar questions relating to regulation of exports or other international economic activities. First, however, I wish to touch on policies related to the legal structure of international rules for trade. This will help put the subject of this article in broader perspective, and although I will focus on U.S. domestic law measures, it will readily be seen that the international system depends greatly on national legal systems for its efficacy, and that …
Legal Models For The International Regulation Of Exchange Rates, Joseph Gold
Legal Models For The International Regulation Of Exchange Rates, Joseph Gold
Michigan Law Review
No legal scholar has contributed more to the study of the harmonization of national interests by international agreement than Professor Eric Stein. This essay in his honor examines some of the efforts that have been made since the Bretton Woods Conference of July 1944 to bring order into the important international relationships that are called exchange rates. The subject has a further pertinence because of Eric Stein's work on the European Community. The law of the Community on exchange rates has been affected by the fortunes of the law of the International Monetary Fund (IMF). The Treaty of Rome relied …
Restrictions On Trade In Communication And Information Services, Geza Feketekuty, Jonathan David Aronson
Restrictions On Trade In Communication And Information Services, Geza Feketekuty, Jonathan David Aronson
Michigan Journal of International Law
Section one highlights some of the changes that the revolution in information exchange is producing. It also argues that transborder data flows could help facilitate international economic adjustment. Section two analyzes the types of reasons used to justify policy measures that inhibit the integration of the world communication network or prevent information from flowing across national borders. It also discusses the implication of restrictions on transborder data flows for the world trading system and for world economic growth. The final section discusses strategies for halting the proliferation of barriers to trade in communication and information services and for reducing existing …
Private Leased Telecommunication Lines: Threats To Continued International Availabliltiy, Jill L. Martin
Private Leased Telecommunication Lines: Threats To Continued International Availabliltiy, Jill L. Martin
Michigan Journal of International Law
This article examines both actual and proposed actions by Japanese and European telecommunications authorities, known as Ministries of Post, Telephone, and Telegraph (PTTs), to restrict private leased line availability, and then explores the possibility that these actions presage the total elimination of private leased lines. It concludes that unless the United States government adopts a unified and reasonable policy opposing the escalation of regulations and restrictions, their deleterious effects will become more severe.
The Council Of Europe Convention Of The Oecd Guidelines On Data Protection, Jon Bing
The Council Of Europe Convention Of The Oecd Guidelines On Data Protection, Jon Bing
Michigan Journal of International Law
The first international legal instruments to be adopted were two Council of Europe resolutions in 1973 and 1974, the first on "the protection of the privacy of individuals vis-A-vis electronic data banks in the private sector," 9 and the second on "the protection of the privacy of individuals vis-A-vis electronic data banks in the public sector." This article will describe and compare the rules of data protection as they emerge in the instruments. Although this will require some assessment, the main objective will be to explain and amplify.
The Impact Of Industrial Legislation On The Behavior Of Multinational Enterprises And Labor In The Industrializing Countries Of East And Southeast Asia, Kojo Yelpaala
Michigan Journal of International Law
The phenomenon of industrial legislation is not new in the world. Several industrialized, non-industrialized, capitalist, and socialist countries all have at different stages in their development used industrial legislation for the achievement of industrial goals, development targets and national welfare objectives. This legislation has generally addressed labor relations, taxes, plant location, exchange controls, and capital controls. What is perhaps new is its focus on the behavior of Multinational Enterprises (MNE). The emergence of the MNE on the world economic scene has introduced an elusive but important element in the industrial policy calculus of nations.
Structural Aspects Of Multinational Corporate Trade With The Nonmarket Economies Of Eastern Europe: An Mnc Perspective On Domestic And Foreign Regulation, John G. Scriven
Structural Aspects Of Multinational Corporate Trade With The Nonmarket Economies Of Eastern Europe: An Mnc Perspective On Domestic And Foreign Regulation, John G. Scriven
Michigan Journal of International Law
In considering the structural aspects of multinational corporate trade relationships with the nonmarket economies of Eastern Europe, it is important, as a preliminary matter, to acknowledge certain intractable features of that trade. Only through a continuing awareness of the interplay of these factors can one hope to understand the role of law or regulation in trade with these states.