International Trade Law Commons^™

Wto Reform And China: Defining Or Defiling The Multilateral Trading System?, Henry S. Gao

Research Collection Yong Pung How School Of Law

In November 2001, China finally acceded to the World Trade Organization, in a deal described by then WTO Director-General Mike Moore as a “defining moment in the history of the multilateral trading system”. In recent years, however, China has been accused of defiling the letter and spirt of WTO rules with its unique economic model. Believing that existing WTO rules are inadequate in dealing with the China challenge, key WTO Members have launched a new round of WTO reform, which is the subject of this article. Contrary to popular belief, most of the problems concerning China are not new but …

Covid-19 Pandemic, The World Health Organization, And Global Health Policy, Cosmas Emeziem

Pace International Law Review

The emergence and quick spread of the COVID-19 pandemic has shifted the focus and dynamics of the debates about global health, international law, and policy. This shift has overshadowed many of the other controversies in the international sphere. It has also highlighted the tensions that often exist in international affairs—especially in understanding the place and purpose of international institutions, vis-à-vis states, in the general schema of public international law. Central to the international response to the current pandemic is the World Health Organization (WHO)—a treaty-based organization charged with the overarching mandate of ensuring “the highest possible level of health” for …

Wto Reform: A China Round, Henry S. Gao

Research Collection Yong Pung How School Of Law

Since its accession to the World Trade Organization (WTO), China's exports have been growing exponentially. In 2009, China became the world's top goods exporter. Four years later, China unseated the United States as the top trading nation in the world. In contrast to the burgeoning Chinese economy, the United States and Europe have been suffering from economic decline since the global financial crisis in 2008. China regards its rise as a long overdue restoration of its rightful position, as it has been the largest economy in the world for most of its history, except the brief aberration over the past …

Delaware's Global Competitiveness, William J. Moon

Faculty Scholarship

For about a hundred years, Delaware has been the leading jurisdiction for corporate law in the United States. The state, which deliberately embarked on a mission to build a haven for corporate law in the early twentieth century, now supplies corporate charters to over two thirds of Fortune 500 companies and a growing share of closely held companies. But Delaware’s domestic dominance masks the important and yet underexamined issue of whether Delaware maintains its competitive edge globally.

This Article examines Delaware’s global competitiveness, documenting Delaware’s surprising weakness competing in the emerging international market for corporate charters. It does so principally …

Rethinking China Trade Policy: Lessons Learned And Options Ahead, Henry S. Gao

Research Collection Yong Pung How School Of Law

Looking back at the China trade policy of the Trump administration, the biggest lesson is that unilateralism simply doesn’t work, at least not against a major power like China. Despite the tumultuous two-and-half-year trade war and the Phase 1 deal hailed as an “unprecedented” deal promising “a more balanced trade relationship and a more level playing field for American workers and companies,” there has been little progress on the issues U.S. businesses and the Trump administration objected to in China’s trade and economic policies. It is not only the U.S. government that needs a more viable approach. Many companies would …

China’S Bilateral Investment Treaties, Heng Wang

Research Collection Yong Pung How School Of Law

This chapter focuses on the changes and trends in Chinese bilateral investment treaties and relatedly investment rules of China’s free trade agreements. It analyzes a number of questions: what is the changing context of China’s bilateral investment rulemaking? How to understand the evolution of China’s bilateral investment treaties? What are the major features in China’s recent practice? What are the shifts on investment dispute settlement?

Selective Reshaping: China's Paradigm Shift In International Economic Governance, Heng Wang

Research Collection Yong Pung How School Of Law

In contrast with the selective adaptation approach toward external norms seen in its accession to the World Trade Organization, China increasingly plays a proactive role on the international stage, with the Belt and Road Initiative at the center of these activities. How can we understand this new approach by China toward international economic governance? What is responsible for China's shifting approach, and what are the implications of this shift? The paper presents selective reshaping as a new theoretical framework, and argues that China is shifting toward the selective reshaping of institutions and rules within the global economic order. Within this …

A New Chinese Economic Law Order?, Greg Shaffer, Henry S. Gao

Research Collection Yong Pung How School Of Law

China is incrementally developing a new, decentralized model of trade governance through a web of finance, trade, and investment initiatives involving memorandum of understanding, contracts, and trade and investment treaties, supported by an indigenous innovation policy that is transnational in its reach. In this way, China could create a vast, Sino-centric, legal order in which the Chinese state plays the nodal role. It is a hub and spokes model, with China at the hub. In this article, we first examine China’s export of an infrastructure-based development model, implemented through Chinese state-owned and private enterprise investments and commercial contracts (Part B), …

Rethinking Non-Recognition: The Eu’S Investment Agreement With Taiwan Under The One-China Policy, Pasha L. Hsieh

Research Collection Yong Pung How School Of Law

This article re-examines the theories of recognition and non-recognition in the context of the evolving framework of the European Union (EU)’s trade and investment relations with Taiwan from legal and international relations perspectives. Notwithstanding its one-China policy, the EU has developed a pragmatic approach to engaging Taiwan under bilateral consultations and World Trade Organization negotiations that have built the foundation for the bilateral investment agreement (BIA). The article argues that since the 1980s, the EU has accorded diverse forms of recognition to Taiwan and the BIA will buttress the process. To substantiate the contention, the article systemically explores the political …

Chinese Resource-For-Infrastructure (Rfi) Investments In Sub-Saharan Africa And The Future Of The "Rules-Based" Framework For Sovereign Finance: The Sicomines Case Study, Jingwei Xu

Michigan Journal of International Law

China has emerged as sub-Saharan Africa’s largest development financier over the past two decades. While commentators have observed novel, sui generis transactional structures in China’s financing arrangements, legal analysis of those contractual forms and their relationships to incumbent international economic governance regimes remains scant. This note addresses those scholarly lacunae, taking as its case study the 2008 Sicomines Agreement—a multi-billion USD investment financing agreement between the Democratic Republic of the Congo and various Chinese corporate entities that merges infrastructure investment with a mineral extraction joint-venture project. It demonstrates that the Sicomines Agreement selectively draws on and integrates pre-existing modes of …

Investments And Security: Balancing International Commerce And National Security With Expanded Authority For The Committee On Foreign Investment In The United States, Christopher Jusuf

Catholic University Journal of Law and Technology

What happens when the interests of international trade conflict with those of national security? This article analyzes this question within the context of the Committee on Foreign Investment in the United States (CFIUS), an obscure but increasingly powerful executive panel that exercises the president's broad authority to unilaterally interfere with and stop international mergers and acquisitions. With the passage of the Foreign Investment Risk Review Modernization Act (FIRRMA), CFIUS is more powerful now than it has ever been, and should be a key consideration for any company seeking to do business with foreign investors. This is especially true as America …

Why Ricardo's Theory Of Comparative Advantage Regarding Foreign Trade Doesn't Work In Today's Global Economy, Charles W. Murdock

Faculty Publications & Other Works

The theoretical basis for international trade is Ricardo’s theory of comparative advantage. Paul Samuelson, one of the leading lights in the economics profession in the 20th century, referred to it as one of the most beautiful ideas in economics. Yet, no one seems to have considered its validity in the context of the current global trade environment.

What free-trade advocates have not done is to look at the bases underlying Ricardo’s theory, namely, that capital is loyal to the country of origin and that the value of currencies is responsive to imbalances in trade. This article demonstrates that capital is …

The Footprint Of The Chinese Petro-Dragon: The Future Of Investment Law In Transboundary Resources, Guillermo J. Garcia Sanchez

Faculty Scholarship

Chinese offshore investments in the oil and gas sector around the world are on the rise. Like dragons roaming the seas trying to dominate the tides, Chinese state-owned companies are particularly eager to bid for oil fields in maritime borderlines. The article tells the story of how Chinese state-owned companies are over paying for oil on the US-Mexico boundary to gather experience on how China’s global competitors handle resource development conflicts. My argument is that Chinese participation in transboundary field development fits within a long-term strategy to master international legal regimes. The presence of these petro-dragons in borderlines is an …

Explaining China's Legal Flexibility: History And The Institutional Imperative, Justin W. Evans

Pace International Law Review

China’s legal system appears to harbor a major tension, or even a paradox. Certainty in law facilitates economic progress, which most observers agree the Communist Party requires to maintain its power—yet the Party has opted for a flexible legal system that often impedes predictability. Prior studies explain China’s legal system as a product of certain constraints and as an expedient that allows for policy adjustments. These factors undoubtedly are at work but do not fully explain the rationale for a legal design seemingly at odds with the Party’s economic goals. To obtain a fuller view, it is necessary to consult …

China's Approach To The Belt And Road Initiative: Scope, Character And Sustainability, Heng Wang

Research Collection Yong Pung How School Of Law

As a new form of regional multilateralism, the Belt and Road Initiative is China’s most significant strategic move for external engagement in international economic law, following its World Trade Organization accession. This paper analyses China’s approach towards the Belt and Road Initiative from a legal perspective, focusing on three questions: first, what is the proper scope of the Belt and Road Initiative? Second, is there an identifiable approach that China adopts in the Belt and Road Initiative context, and, if so, what is its key legal characteristic? Third, is China’s Belt and Road Initiative approach sustainable? Employing a functional approach …

Given Today's New Wave Of Protectionsim, Is Antitrust Law The Last Hope For Preserving A Free Global Economy Or Another Nail In Free Trade's Coffin?, Allison Murray

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

Financial Repression In China: Short-Term Growth But Long-Term Crisis, Guangdong Xu, Michael Faure

Loyola of Los Angeles International and Comparative Law Review

No abstract provided.

Building Toward The Rcep? Reflections On The Asean-China Fta, Heng Wang

Research Collection Yong Pung How School Of Law

Among the ASEAN’s external FTAs, the ASEAN-China Free Trade Agreement (ACFTA) is ofgreat significance to both the ASEAN and China. The ACFTA was one of the earliest trade pactsconcluded by China. It is also part of the ASEAN’s broader push toward concluding FTAs outside themultilateral trading system, in line with the proliferation of regional trade pacts. This chapter willanalyze the following questions: what is the approach of the ACFTA? What are the implications ofthe ACFTA for the the Regional Comprehensive Economic Partnership (RCEP)? What nationalimplementation issues are involved with the ASEAN? The potential implications of the AHKFTA willbe explored. The …

The Impact Of The China-Australia Free Trade Agreement On Australia's Education Exports To China: A Legal And Economic Assessment, Junfang Xi, Weihuan Zhou, Heng Wang

Research Collection Yong Pung How School Of Law

As a landmark achievement in the development of the China-Australia bilateral economic relations, the China-Australia Free Trade Agreement (“ChAFTA”) achieves a higher level of liberalisation in education services compared with China's commitments under the World Trade Organisation and its other free trade agreements. However, the ChAFTA fails to relax the major regulatory barriers in China, which will remain the key obstacles to Australia's education services exports to China. Through a preliminary study and a regression analysis of the impacts of the ChAFTA on Australia's education exports to China based on available data, we show that the ChAFTA did not play …

Against Populist Isolationism: New Asian Regionalism And Global South Powers In International Economic Law, Pasha L. Hsieh

Research Collection Yong Pung How School Of Law

This article provides the most up-to-date examination of the Regional Comprehensive Economic Partnership (RCEP), which is poised to become the world’s largest free trade agreement (FTA). It argues that the 16-country mega-FTA will galvanize the paradigm shift in Asian regionalism and build a normative foundation for the Global South in international economic law. Based on intertwined theoretical and substantive claims, this article opens an inquiry into the assertive legalism of developing nations in the new regional economic order. It further manifests the pivotal force of emerging economies against populist isolationism in the Trump era that undermines the neoliberal foundation of …

Multilateral Economic Institutions And U.S. Foreign Policy: Hearing Before The Subcomm. On Multilateral Int'l Dev., Multilateral Insts., & Int'l Econ., Energy, & Envtl. Pol'y Of The S. Comm. On Foreign Relations, 115th Cong., Nov. 27, 2018 (Statement Of Jennifer A. Hillman), Jennifer A. Hillman

Testimony Before Congress

Virtually every major international gathering of world leaders recently has ended in failure—or at least failure to reach enough agreement to issue a concluding statement or communique. These failures come at a time when many have been looking for signs that world leaders would come together to address the most pressing problems facing the world—including climate change, the breakdown in the rules of the international trading system, the need everywhere for good jobs that pay a living wage, and rapidly growing income inequality.

The failure of these meetings to produce formal agreements—or even specific paths to reaching agreements in the …

Between Power Politics And International Economic Law: Asian Regionalism, The Trans-Pacific Partnership And U.S.-China Trade Relations, Jiangyu Wang

Pace International Law Review

This Article examines the interactions of power politics and international economic law in the development of regionalism in Asia, particularly in the context of United States-China trade relations. It argues that the process of regional economic integration in Asia has been slow-moving because of the politicization of regionalism by power rivalries. China’s initial regional integration initiatives apparently ignored the United States, a superpower which has always been a major player in Asia and an indispensable part of the region’s economic process. The United States-led Trans-Pacific Partnership was allegedly designed to exclude China, Asia’s largest economy. On the other hand, the …

How May China Respond To The U.S. Trade Approach? Retaliatory, Inclusive And Regulatory Responses, Heng Wang

Research Collection Yong Pung How School Of Law

This paper endeavours to conceptualize and provide an analytical framework for China’s response to U.S. trade policy. It analyses the following questions: what is the new U.S. trade approach? How might China respond to the United States’ trade approach? What are the trend and implications of China’s response to the U.S. trade approach? It argues, first, that the U.S. trade approach has not changed regarding most of the U.S.-style regulatory disciplines. However, it has changed in terms of the shift toward managed trade, unilateralism and trade enforcement. Second, China will likely adopt a three-track approach: consisting of retaliatory, inclusive and …

Digital Or Trade? The Contrasting Approaches Of China And Us To Digital Trade, Henry S. Gao

Research Collection Yong Pung How School Of Law

With the growing importance of the internet, digital trade, or electronic commerce, has become a key issue in international trade regulation. As the home to some of the largest internet companies in the world, the United States took the lead in bringing the issue into the WTO and has been the leading proponent on the issue. In contrast, the developing countries were quite sceptical and reluctant to engage on discussions on the issue. Recently, however, several developing countries has changed their positions and become more active participants. Chief among them is China, which has raised some interesting proposals both within …

Us China Trade Dispute Over Intellectual Property, Mozi Luo

Master's Projects

How have Section 301 investigations impacted trade relations between China and the U.S. in clean energy area, and between Japan and the U.S. in semiconductor and auto part areas, and does the impact provide a guide for the possible outcome of the upcoming Section 301 investigation of China?

After President Donald Trump’s memorandum on August 14, 2017 stating that China’s behavior regarding intellectual property rights (IPR) and the high technology industries adversely influences the U.S. economy, the United States Trade Representative (USTR) declared the initiation of a section 301 investigation of China on the topic of technology transfer and intellectual …

China’S Artificial Island Building Campaign In The South China Sea: Implications For The Reform Of The United Nations Convention On The Law Of The Sea, Adam W. Kohl

Dickinson Law Review (2017-Present)

This Comment discusses the United Nations Convention on the Law of the Sea (UNCLOS) with reference to artificial island building in the South China Sea. China recently began an artificial island building campaign in the Spratly Island chain, which is located in the South China Sea. These artificial islands have been the subject of, and have created implications regarding, territorial disputes in the area.

UNCLOS governs international law in the context of disputes among states on the high seas. UNCLOS does have provisions that address artificial island construction and maintenance, but it mistakenly assumes that states will only construct artificial …

The Globalization Of United States Debt: The Real Impact Of China's Rise As A Creditor State, Michael R. Myers

Indiana Journal of Global Legal Studies

In this Note, I seek to answer a simple question: By owning a large quantity of United States debt, can a foreign country influence United States policies at home or abroad? To answer, I apply scholarship in financial leverage theory to China-the largest foreign holder of U.S. debt. As a result, I find no plausible threat of China using financial leverage against the United States.

Instead, I argue that the true impact of China's rise as a creditor state has been its ability to fundamentally undervalue its currency by investing in the sovereign debt of foreign nations. Such monetary policies …

When The Chinese Intellectual Property System Hits 35, Peter K. Yu

Faculty Scholarship

This article explores what it means for the Chinese intellectual property system to hit 35. It begins by briefly recapturing the system’s three phases of development. It discusses the system’s evolution from its birth all the way to the present. The article then explores three different meanings of a middle-aged Chinese intellectual property system – one for intellectual property reform, one for China, and one for the TRIPS Agreement and the global intellectual property community.

The Wto Transparency Obligations And China, Henry S. Gao

Research Collection Yong Pung How School Of Law

When it acceded to the WTO in 2001, China accepted comprehensive transparency obligations as well as substantive commitments covering both market access and rules issues. Initially designed to deal with its opaque trade law regime, the transparency obligations were also expected to help democratize the legislative process and promote the development of the rule of law in China. Now that more than 15 years have passed, an important question is: have the transparency obligations delivered on their original promise? This article answers the question by reviewing how the transparency obligations have worked in practice. It notes that, while transparency has …

The Wto Transparency Obligations And China, Henry S. Gao

Research Collection Yong Pung How School Of Law

When it acceded to the WTO in 2001, China accepted comprehensive transparency obligations as well as substantive commitments covering both market access and rules issues. Initially designed to deal with its opaque trade law regime, the transparency obligations were also expected to help democratize the legislative process and promote the development of the rule of law in China. Now that more than 15 years have passed, an important question is: have the transparency obligations delivered on their original promise? This article answers the question by reviewing how the transparency obligations have worked in practice. It notes that, while transparency has …