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Articles 181 - 210 of 453
Full-Text Articles in International Law
Foreign Investment Companies Limited By Shares: The Latest Chinese Organization For Major International Ventures, Jim Jinpeng Zhang, Jung Y. Lowe
Foreign Investment Companies Limited By Shares: The Latest Chinese Organization For Major International Ventures, Jim Jinpeng Zhang, Jung Y. Lowe
Northwestern Journal of International Law & Business
Foreign Investment Companies Limited By Shares ("FICLBS") is one of the most important recent innovations in the People's Republic of China's ("China") foreign-invested enterprises law. Since January 10, 1995, China has authorized use of the FICLBS and, for the first time, it more closely resembles major corporate organizations used by international foreign investors.! So far over eighteen FICLBS have been approved for operation through 1999, with combined actual foreign investment of USD 1.2 billion.2 FICLBS has the potential to be the ideal organization for major international investment in China after it joins the World Trade Organization. The FICLBS can issue …
Transnational Bribery: The Big Questions, Steven R. Salbu
Transnational Bribery: The Big Questions, Steven R. Salbu
Northwestern Journal of International Law & Business
During the past few years, I have written extensively on the subject of transnational bribery. My articles have examined several aspects of this serious problem,' including the Foreign Corrupt Practices Act ("FCPA"), 2 re-cent multilateral global conventions to fight bribery,3 and the comparative costs and benefits of legislative versus systemic or institutional forms of change.4 This body of work also has addressed some of the problems that can accompany aggressive legal remedies, such as potential cultural imperialism5 and global discord.6 This examination has been rewarding, and it has spurred a rich exchange with a number of very talented scholars, as …
Getting From Salbu To The Tipping Point: The Role Of Corporate Action Within A Portfolio Of Anti-Corruption Strategies, Thomas W. Dunfee, David Hess
Getting From Salbu To The Tipping Point: The Role Of Corporate Action Within A Portfolio Of Anti-Corruption Strategies, Thomas W. Dunfee, David Hess
Northwestern Journal of International Law & Business
Salbu's "big questions" identify core issues for scholars on bribery and corruption. Salbu asks: (1) when may it be ethical to pay a bribe, (2) whether the Foreign Corrupt Practices Act's ("FCPA") provisions on "routine government action" permit us to distinguish between appropriate and inappropriate facilitative payments, (3) whether non-governmental organizations ("NGOs") should supplant the role of governments in fighting corruption, and (4) whether corporate principles can have an impact in the fight against corruption. Our focus is primarily on the latter question, but encompasses all of them. Implicit in Salbu's list is the question of whether a single magic …
Switzerland & The International Trade In Art & Antiquities, Michele Kunitz
Switzerland & The International Trade In Art & Antiquities, Michele Kunitz
Northwestern Journal of International Law & Business
Recently, Switzerland has proposed a law that would significantly tighten its regulation of the antiquities trade. The draft law seeks to comport Swiss law with the broad goals of international conventions on the protection and transfer of cultural property. However, given Switzerland's past reluctance to curtail the illicit trade in antiquities, it remains unclear whether this measure will pass or if passed, whether the law would be adequately enforced. The primary aim of this Comment is to detail the history of international law as it pertains to cultural property and draw attention to the Swiss role in fostering the illicit …
Consequences Of E.U. Airline Deregulation In The Context Of The Global Aviation Market, Moritz Ferdinand Scharpenseel
Consequences Of E.U. Airline Deregulation In The Context Of The Global Aviation Market, Moritz Ferdinand Scharpenseel
Northwestern Journal of International Law & Business
The objective of this article is to show the background of the airline liberalization process in the E.U. and to evaluate its economic effects in context of the global aviation market. To understand the pressures for change and the forms that the changes are taking, it is first necessary to ap-preciate why market regulation was thought important and how the U.S. de-regulated its airline industry. Therefore, Section II of this paper will analyze the different market structures in the U.S. and the E.U. In Section III, the discussion will continue with a consideration of the effects of U.S. airline deregulation. …
Reformation Of The Ec Competition Policy On Vertical Restraints, Georg Terhorst
Reformation Of The Ec Competition Policy On Vertical Restraints, Georg Terhorst
Northwestern Journal of International Law & Business
In the present article, I present the main issues surrounding the reform process, its reasoning and the result it brought to the European Community's ("EC") competition policy on vertical restraints. Furthermore, I summarize some of the reactions by other bodies of the EC and industry sectors toward this reform process. Finally, I will discuss the responses by business toward these changes in the EC rules to vertical restraints and the way enterprises will operate in the Member States of the EC.
Afterword: Antitrust And American Business Abroad Revisited, David J. Gerber
Afterword: Antitrust And American Business Abroad Revisited, David J. Gerber
Northwestern Journal of International Law & Business
Kingman Brewster's exceptionally influential Antitrust and American Business Abroad (1958) came to symbolize an era in antitrust law and in the relationship of U.S. business to international economic activity. It gave conceptual contours to a fundamental problem that had been only dimly perceived before -- namely, the need to define the reach of U.S. antitrust law.' In a masterful and much expanded third edition of the book, Professor Spencer Waller marks the transition to a new, very different, and far more complex era in antitrust law and in its significance for international business. We have only begun to recognize and …
Can U.S. Antitrust Laws Open International Markets?, Spencer Weber Waller
Can U.S. Antitrust Laws Open International Markets?, Spencer Weber Waller
Northwestern Journal of International Law & Business
The vigorous and non-discriminatory enforcement of antitrust law can contribute to promoting an international marketplace characterized by an open competitive process. However, antitrust law is, at best, a supporting player in constructing a liberal multilateral trading order, and is incapable of promoting any single country's exports. This article suggests a small, but important, role for United States antitrust law in promoting that competitive marketplace in conjunction with a developing wave of competition law around the globe.
Foreward: Mergers, Market Access And The Millennium, Eleanor M. Fox
Foreward: Mergers, Market Access And The Millennium, Eleanor M. Fox
Northwestern Journal of International Law & Business
The symposium issue is a nice microcosm of the competition law issues facing the world. It presents the tensions between national control and world integration. It presents the twin, conflicting impulses to eschew internationalization, hoping to do well enough by deepened positive comity (Waller), and to embrace internationalization at least cautiously to address concerns where unharnessed operation of national interests obstructs efficient solutions and where internationalization is most likely to sidestep the political landmines (Fiebig).
Transnational Competition Law Aspects Of Mergers And Acquisitions, William M. Hannay
Transnational Competition Law Aspects Of Mergers And Acquisitions, William M. Hannay
Northwestern Journal of International Law & Business
As more and more U.S. companies engage in overseas operations, even the most routine merger or acquisition seems to have a transnational component which requires analysis and perhaps premerger notification under an increasing number of foreign "competition laws" (or what we call antitrust laws). An understanding of those competition rules has become an imperative for American lawyers.
Wives For Sale: The Modern International Mail-Order Bride Industry, Kathryn A. Lloyd
Wives For Sale: The Modern International Mail-Order Bride Industry, Kathryn A. Lloyd
Northwestern Journal of International Law & Business
This comment begins by discussing the mail-order bride industry in the context of international human trafficking, focusing on traffic between the United States and the Philippines, and includes an overview of the current regulations that exist regarding this industry. It then gives an overview of the major criticisms of the mail-order bride industry, the international problems created by the practice of trafficking women as brides, and the failure of current regulations in the United States and the Philippines (or the lack thereof) to address these problems. Finally, this comment calls for international regulation that would begin to address these problems, …
The Treatment Of Global Mergers: An Australian Perspective, S.G. Corones
The Treatment Of Global Mergers: An Australian Perspective, S.G. Corones
Northwestern Journal of International Law & Business
The purpose of this article is to examine some recent global mergers from an Australian perspective. The article begins by considering the administrative tribunal and Court structure in Australia, as well as the procedural, substantive. and remedial aspects of Australian laws regulating global mergers. It then considers the Merger Guidelines and their focus on the unilateral and co-ordinated post-merger effects that are likely to occur. The article examines a number of recent global mergers. including Coopers & Lybrand/Price Waterhouse, BAT/Rothmans, Pepsi Co/Smith's Snack Foods and Coca-Cola/Cadbury Schweppes, as well as their assessment by the ACCC. Finally, it considers some of …
Foreword: The Rocky Road Toward The Rule Of Law In China: 1979-2000, James Hugo Friend
Foreword: The Rocky Road Toward The Rule Of Law In China: 1979-2000, James Hugo Friend
Northwestern Journal of International Law & Business
This Twentieth Anniversary Issue of JILB again has a symposium on law in China entitled China Revisited: Examining the Rule of Law After Twenty Years." The impetus for the 2000 China Symposium is the unprecedented integration of China into the world economic community, evidenced by China's imminent entry into the World Trade Organization ("WTO").2 The road to China's integration into the WTO was paved by the U. S. Senate's recent vote, "the most significant advance in U.S.-China relations since President Nixon's 1972 visit,'13 which grants China permanent normalized trade relations without annual Congressional review. Although the Senate approval was expected, …
Investing In China's Telecommunications Market: Reflections On The Rule Of Law And Foreign Investment In China, Leontine D. Chuang
Investing In China's Telecommunications Market: Reflections On The Rule Of Law And Foreign Investment In China, Leontine D. Chuang
Northwestern Journal of International Law & Business
The lack of clarity in China's investment laws has translated into an investment environment that is often uncertain, risky, and mired in red tape. In fact, there have been cases where foreign corporations have invested in joint ventures following what they thought to be all the requisite guidelines, only to find out after the money had exchanged hands that something was terribly wrong with the entire agreement. A perfect example of this is the birth, development, and eventual demise of the ill-fated China-China-Foreign (hereinafter "CCF") investment vehicles used for investment in China's telecommunications industry in the past few years. This …
Bird In A Cage: Chinese Law Reform After Twenty Years, Stanley Lubman
Bird In A Cage: Chinese Law Reform After Twenty Years, Stanley Lubman
Northwestern Journal of International Law & Business
When I wrote in 1979, it was easy to summarize the state of Chinese legal institutions because they were so sparse. Although a judicial system had been created on the Soviet model in the 1950s, it had been politicized by the end of that decade after a brief period of liberalization, and then further wrecked by the Cultural Revolution. A new period of institution-building began in 1979; reconstruction of the courts began and the law schools, closed for a decade, reopened. Most fundamentally, the policies of the Chinese leadership seemed to promise, as I noted then, "attempts to conceptualize and …
A Role For The Wto In International Merger Control, Andre Fiebig
A Role For The Wto In International Merger Control, Andre Fiebig
Northwestern Journal of International Law & Business
Although this paper follows on those new proposals, and addresses many of the same problems, the international merger control regime proposed here fundamentally differs in its approach. Although there is certainly a beneficial role for an international institution in merger control, the current proposals are too ambitious. Instead of focussing on the allocation of cross-border transactions, this paper suggests that the focus should be on the cases which present no treat to competition, and yet are scrutinized by several different national competition law regulators. An international institution, probably within the framework of the World Trade Organization ("WTO"), should be created …
Argentina And The Telecommunications Industry: The Difficult But Necessary Path Toward Liberalization, Vanessa P. Rubinstein
Argentina And The Telecommunications Industry: The Difficult But Necessary Path Toward Liberalization, Vanessa P. Rubinstein
Northwestern Journal of International Law & Business
This article provides a synopsis of Argentina's telecommunications industry and examines the compelling reasons why Argentina must effectively liberalize the industry while eliminating its hidden protectionist policies. Part II presents a historical overview of the Argentina's telecommunications industry and analyzes Argentina's domestic laws requiring liberalization. Part III explores the main economic policy reasons for why liberalization of the Argentine telecommunications industry is essential. Part IV offers recommendations to better achieve effective development, liberalization and competition in the telecommunications industry. This article concludes that Argentina must completely liberalize its telecommunications industry for basic services, thereby abiding by its domestic legal commitments …
Enforcement Against Counterfeiting In The People's Republic Of China, Daniel C.K. Chow
Enforcement Against Counterfeiting In The People's Republic Of China, Daniel C.K. Chow
Northwestern Journal of International Law & Business
Although the discussion in this Article is limited to counterfeiting in China, many of the issues discussed are endemic to the Chinese legal system as a whole, and apply also to other intellectual property rights, such as copyright piracy and patent infringements. Moreover, many of the themes raised in this Article also illuminate the current state of the nascent Chinese legal system as a whole and how its capacity is tested as it continues the struggle to keep pace with China's many economic reforms and accompanying social changes. Part I of this Article begins with a review of the enforcement …
Perspective: Foreign Direct Investments In China - Practical Problems Of Complying With China's Company Law And Laws For Foreign-Invested Enterprises, Anyuan Yuan
Northwestern Journal of International Law & Business
Foreign investors in China face a legal system and legal issues that are very different from those found in the United States. This article seeks to illustrate some of the important differences in China's corporate law that govern or affect foreign investors' interests. The purpose of this article is to help foreign investors become aware of legal problems and investment risks in creating a foreign-invested enterprise in China. This article also proposes changes to existing Chinese laws that will more reasonably accommodate the legal concerns and protect the legal interests of foreign investors (as well as incidentally benefiting domestic Chinese …
Chinese Law, Trade And The New Century, Robert C. Berring
Chinese Law, Trade And The New Century, Robert C. Berring
Northwestern Journal of International Law & Business
China crammed a great deal of political activity into the 20th Century. In the year 1900 the Q'ing Dynasty still ruled the remnants of an ancient empire. The Q'ing conspired with rebels in the Boxer Rebellion in the hopes of expelling all foreigners from Chinese soil and returning to splendid isolation. In the year 2000 China is a superpower balancing communist theory and a capitalist market that is about to join the World Trade Organization. The intervening years saw warlords, democrats, fascists, Marxists and all stripes of communists leading the world's largest nation. As China enters the new millennium of …
The Privatization And Project Finance Adventure: Acquiring A Colombian Public Utility Company, Mario Andrade, Mario A. De Castro
The Privatization And Project Finance Adventure: Acquiring A Colombian Public Utility Company, Mario Andrade, Mario A. De Castro
Northwestern Journal of International Law & Business
Colombia is an exciting new arena for the international practitioner structuring project finance and privatization transactions. The sectors of the economy that are attractive targets for most multinationals (MNCs) entering Colombia are the energy, oil and gas, mining, water, and telecommunications sectors. In most cases, MNCs in these sectors consider investments in Colombia when the Colombian authorities announce a plan for the privatization or capitalization of state-run companies that have a monopoly on business. Often the MNC becomes aware of the privatization, concession, or capitalization project via an official announcement by the Colombian government calling for bids or an invitation …
The Market Tort In Private International Law, Michael J. Whincop, Mary Keyes
The Market Tort In Private International Law, Michael J. Whincop, Mary Keyes
Northwestern Journal of International Law & Business
Perhaps the most troublesome of all choice of law questions arises when a plaintiff asserts a cause of action for injuries arising from a contractual exchange entered in a market situation. This description embraces some of the most important case types in modern litigation: products liability, securities litigation, industrial accidents, medical negligence, and so on. Outside of private international law cases, these have represented the battlefields of recent tort "crises" and subsequent reforms. We shall refer to these cases as "market torts" . They represent the principal subject of analysis in this work. The rules that should apply where a …
Attorney Fee Arrangements: The U.S. And Western Perspectives, Virginia G. Maurer, Robert E. Thomas, Pamela A. Debooth
Attorney Fee Arrangements: The U.S. And Western Perspectives, Virginia G. Maurer, Robert E. Thomas, Pamela A. Debooth
Northwestern Journal of International Law & Business
This article develops an analytical framework for viewing the rules on attorney fee arrangements that have been adopted in the United States and in major western European countries. In section II the paper explains the choice of economic agency theory as a starting point for developing this framework. Within the meaning of economic agency, the attorney is a dual agent, with duties to both the client and the judicial system. In section III the paper identifies five interests that form the basis for evaluating fee systems. These interests are derived from applying basic agency theory to the duties of the …
New Transfer Pricing Rules In Brazil, Alexandre Tadeu Seguim
New Transfer Pricing Rules In Brazil, Alexandre Tadeu Seguim
Northwestern Journal of International Law & Business
Through transfer price, the organization aims to evaluate and improve the performance of the related entity. The idea that transfer pricing is a mechanism designed only to avoid taxes is misleading. Actually, to transfer price is a sound and positive way to increase value. The 1979 OECD Report on Transfer Pricing and Multinational Enterprises emphasized that the term is neutral: "the consideration of transfer pricing problems should not be confused with the consideration of problems of tax fraud or tax avoidance, even though transfer pricing policies may be used for such purposes." The 1995 OECD Report went even further by …
Network Industries, Third Party Access And Competition Law In The European Union, Carlos Lapuerta, Boaz Moselle
Network Industries, Third Party Access And Competition Law In The European Union, Carlos Lapuerta, Boaz Moselle
Northwestern Journal of International Law & Business
This article addresses a set of issues that arise in the context of market liberalization for a special and important class of industries, the so-called "network industries," which include electricity, natural gas, rail transportation and telecommunications. Each of these industries combines activities that are potentially competitive, such as generation of electricity, with ones that are naturally monopolistic, such as transmission of electricity. This combination produces a unique set of challenges to competition law and policy in designing a market structure and regulatory framework which maximize the benefits of liberalization while effectively controlling any tendencies to monopolistic abuse. We analyze "Chicago …
A Critique Of Light-Handed Regulation: The Case Of British Gas February 1999, Paul Carpenter, Carlos Lapuerta
A Critique Of Light-Handed Regulation: The Case Of British Gas February 1999, Paul Carpenter, Carlos Lapuerta
Northwestern Journal of International Law & Business
Although attractive in theory, the implementation of light-handed regulation in the United Kingdom has faced several problems. First, light-handed regulation has not worked as anticipated to avoid the need for lengthy regulatory proceedings. Second, light-handed regulation has unintentionally created inefficient incentives for regulated companies. Third, light-handed regulation has not successfully constrained the monopoly power of incumbents. We illustrate the problems with light-handed regulation principally by reference to the experience of British Gas. The British government established the Office of Gas Regulation, known as Ofgas, to regulate British Gas after its privatization. However, Ofgas was not able to set reasonable prices …
Renegotiating Previous Governments' Privatization Deals: The 1997 U.K. Windfall Tax On Utilities And International Law, Thomas W. Waelde, Abba Kolo
Renegotiating Previous Governments' Privatization Deals: The 1997 U.K. Windfall Tax On Utilities And International Law, Thomas W. Waelde, Abba Kolo
Northwestern Journal of International Law & Business
Investment in privatized utilities leads to a very particular form of political risk--the risk that regulatory conditions change and special taxes are imposed, all measures within the sovereign powers of the state. The normal forms of protection against political risk (investment insurance, stabilization clauses, international investment treaties and international arbitration clauses) have not yet caught up with the emergence of new forms of political risk. The 1997 UK windfall tax announced by the Chancellor of the Exchequer in that year's budget speech is a case in point. This issue is not limited purely to the contemporary UK situation, but illustrates …
Fasb V. Iasc: Are The Structure And Standard Setting Process At The Iasc Adequate For The Securities And Exchange Commission To Accept International Accounting Standards For Cross-Border Offerings? , Charles Canfield
Northwestern Journal of International Law & Business
This comment compares and contrasts the IASC's structure and stan- dard setting process with the structure and process for promulgating ac- counting standards of the Financial Accounting Standards Board ("FASB"), the standard setter for the United States. The purpose of this comparison is to determine whether or not the IASC's structure and process for standard development are adequate for the development of acceptable core standards. This comparison uses FASB, not for the purpose of imposing FASB as the standard setter for the world, but for the purpose of comparing the IASC with an established long-standing standard setter, and because the …
Selecting A Corporate Form: Foreign Direct Investment In Vietnam's Oil And Gas Industry Under The 1995 Land Law, Magali Matarazzi
Selecting A Corporate Form: Foreign Direct Investment In Vietnam's Oil And Gas Industry Under The 1995 Land Law, Magali Matarazzi
Northwestern Journal of International Law & Business
Foreign investment in Vietnam by U.S. investors has been controversial since the termination of the Vietnam War. Originally, there were political considerations. The idea of conducting business with a socialist government, that was an enemy in the recent past, was antithetical to the U.S. Congress and population. The trade embargo imposed on Vietnam was a reflection of this sentiment. In the meantime other nations were willing to negotiate with the new government because business considerations out-weighed political ideals. Vietnam proved to be a wealth of natural resources, most notably oil and gas reserves. There was also speculation that Vietnam's economy …
Integration Of International Financial Regulatory Standards For The Chinese Economic Area: The Challenge For China, Hong Kong, And Taiwan, Lawrence L.C. Lee
Integration Of International Financial Regulatory Standards For The Chinese Economic Area: The Challenge For China, Hong Kong, And Taiwan, Lawrence L.C. Lee
Northwestern Journal of International Law & Business
This article initially reviews the current development of financial services that converge regulatory systems around the world. Along with focusing on banking and securities, this article assesses financial systems and regulators within China, Hong Kong, and Taiwan respectively. The evaluation of the CEA's financial system is based on recommendations issued by the Basle Committee. In addition, with respect to the principle of national treatment, this article evaluates the operations of foreign financial institutions in the CEA. In the future, participation in the WTO will enable the CEA to experience greater growth and increase its participation in the internationalization of financial …