Law Commons^™

Greek Debt Restructuring, Abaclat V. Argentina And Investment Treaty Commitments: The Impact Of International Investment Agreements On The Greek Default, Julien Chaisse

Julien Chaisse

This chapter further explains the Greek crisis and sets the scene for the subsequent analysis. Section I reviews the existing Greek treaties, while section II reviews their coverage of sovereign debt-related issues in terms of scope of application. Section III explains key features of the Greek– foreign IIAs and their significance for sovereign debt restructuring (SDR), namely the scope of Greek–foreign IIAs in terms of substantial rights of investors under IIAs. Section IV summarizes the main points of contention for the future of SDR in light of the Abaclat decision, but also the litigation prospects as for the Greek SDR.

Navigating The Expanding Universe Of International Treaties On Foreign Investment-- Creation And Use Of A Critical Index, Julien Chaisse

Julien Chaisse

Deconstructing The Wto Conformity Obligation-- A Theory Of Compliance As A Process, Julien Chaisse

Julien Chaisse

This Article deconstructs the WTO obligation of conformity enshrined in Article XVI:4 of the WTO Agreement, demonstrating that this key provision is not a mere interface between international and domestic law. In fact, the obligation of conformity is the source of a process of compliance which, although more modest than usual law of international responsibility, has proven to be effective in securing final compliance. Deconstructing the obligation of conformity helps to explain and demystify the high level of compliance with WTO law while significantly contributing to the understanding of why and how States comply with international law.

Exploring The Confines Of International Investment And Domestic Health Protections--Is A General Exceptions Clause A Forced Perspective?, Julien Chaisse

Julien Chaisse

This Article focuses the analysis on the ramifications of the recent investment treaty practice, including “general exceptions” in investment treaties in light of increasing attention paid by governments to tobacco controls. This Article fundamentally tries to answer whether the “general exceptions” clause found in investment treaties can be an efficient tool for governments to develop national health policies. It is an important question, both at policy and theoretical levels, as investment treaties grant significant rights to foreign investors, such as tobacco companies, while many governments are willing to develop tobacco control measures which would echo those enforced by Uruguay and …

Maintaining The Wto's Supremacy In The International Trade Order: A Proposal To Refine And Revise The Role Of The Trade Policy Review Mechanism, Julien Chaisse

Julien Chaisse

In light of the stagnating World Trade Organization (WTO) negotiations, this article argues that WTO should not only focus on the development of new rules or the resolution of disputes, but should also develop ‘soft law’ on the basis of informal mechanisms as the successful experiences of the International Competition Network or the International Monetary Fund demonstrate. In this respect, WTO should extend and refine the role of its Trade Policy Review Mechanism (TPRM) in order to be able to address essential issues of contemporary economic concerns and, hence, remain at the centre of global governance. This article explains how …

Assessing The Exposure Of Asian States To Investment Claims, Julien Chaisse

Julien Chaisse

The developments which are now taking place show that Asian states are increasingly negotiating international investment agreements (hereinafter IIAs) — in the form of BITs or PTAs — which form a dense network of obligations. Although few cases had been brought against Asian states by 2009, the pattern has changed since 2010, with a sharp increase in the initiation of investor-state arbitration proceedings over the last three years bringing the total of investment claims against Asian States to a significant total of 87 international disputes. Although some IIAs have generated a few disputes for technical reasons (for example, those concluded …

The Three-Pronged Strategy Of India's Preferential Trade Policy - A Contribution To The Study Of Modern Economic Treaties, Julien Chaisse

Julien Chaisse

Before the inception of WTO, India generally did not pursue any regional economic agreement route to promote trade or to achieve any other goal. However, in the Post Cancun Ministerial period, it has progressively entered into a number of preferential trade arrangements with several Asian as well as non-Asian partners. Looking into India’s regional economic integration approach, the current analysis makes an attempt to identify the major determinants behind the shift in the country’s interest and the policy implications of this change. We conclude that India’s approach towards preferential trade can de depicted as a three-pronged PTA strategy: it can …

Why Will China Establish A Government-Sponsored Response Mechanism In Countervailing Games?, Julien Chaisse, Luan Xinjie

Julien Chaisse

In recent years China has faced numerous countervailing duty investigations among others by the United States and Canada . Reactions to countervailing measures are usually much more policy-oriented than market-oriented. Whereas the dominant strategies adopted by the individual exporting enterprises are usually not the payoff dominant ones, China is tending towards establishing a government-sponsored countervailing response mechanism (Gscrm). With the Gscrm, the bounded rationality of the export enterprises in the countervailing counter-action can be eliminated and therefore payoff dominant equilibrium in a countervailing-responding cooperation game can be achieved.

Implementing Wto Rules Through Negotiations And Sanction: The Role Of Trade Policy Review Mechanism And Dispute Settlement System, Julien Chaisse, Debashis Chakraborty

Julien Chaisse

Based on economic and legal perspectives, the current paper aims to analyze how the World Trade Organization combines negotiations and sanctions to ensure the implementation of its law. While the Trade Policy Review mechanism at the WTO deals with the WTO-compatibility of the trade policy of a particular member in question, the prevalence of such policies can be successfully challenged at the Dispute Settlement Body which makes decisions on trade disputes between governments that are adjudicated by the WTO. The TPR can play a major role in this framework, providing developing and less-developed countries valuable input on the WTO-compatibility of …