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What Role For The Wto In Disciplining China’S State-Dominated Economy?, Jennifer A. Hillman
What Role For The Wto In Disciplining China’S State-Dominated Economy?, Jennifer A. Hillman
Georgetown Law Faculty Publications and Other Works
Is the World Trade Organization (WTO) and its rules-based system capable of addressing the distortions in trade caused by the explosive growth of China’s State-Owned Enterprises (SOEs)? If it is, why hasn’t it been put to use? If the WTO rules are not up to task, where and how do they need to be changed? Those are the questions that Henry Gao and Weihuan Zhou answer in their thorough and compelling assessment of the current state of China’s SOEs, the commitments China made when it joined the WTO and the relevance of the applicable WTO rules, Between Market Economy and …
China’S Entry Into The Wto—A Mistake By The United States?, Jennifer A. Hillman
China’S Entry Into The Wto—A Mistake By The United States?, Jennifer A. Hillman
Georgetown Law Faculty Publications and Other Works
The conclusion that China's accession to the WTO was a failure from a U.S. perspective stems from: 1) loading too many issues and expectations—including an entire panoply of national security and geostrategic concerns -- on to the WTO and its rules-based, binding dispute settlement system to address; 2) failure by the United States and the rest of the world to use the tools available as a result of China’s accession to the WTO to both protect their domestic markets and hold China to account for its WTO commitments; and 3) China’s U-turn away from market-economy reforms to a much more …
A Process For Politics, Anna Gelpern
A Process For Politics, Anna Gelpern
Georgetown Law Faculty Publications and Other Works
I argue that consistent and public process observance has a distinctly valuable function in sovereign debt restructuring, with no precise equivalent in national insolvency regimes. National regimes reflect the distribution bargains of their enactment, presumptively legitimate and binding. Debtors and creditors allocate insolvency losses in their shadow, with liquidation as a backstop and politics just outside the frame. All else equal, the restructuring process has a harder job with sovereign debt. There is no liquidation backstop and no default distribution scenario. Each crisis resolution episode must allocate losses from scratch among the country’s citizens, foreign and domestic creditors, and other …
New Hope For Corporate Governance In China?, James V. Feinerman
New Hope For Corporate Governance In China?, James V. Feinerman
Georgetown Law Faculty Publications and Other Works
China's recent revisions to its Company Law and Securities Law have brought new attention to issues of corporate governance in Chinese companies and financial markets. Among the chief criticisms of the earlier laws - in both their provisions and application - were the lack of protection for minority shareholders, the paucity of independent directors, the absence of transparency and inadequate financial disclosure. The acknowledged need for greater congruence between Chinese law and practice and that of countries with more developed capital markets led to the proposal of amendments to China's legislation during the first half of this decade. This article …