International Trade Law Commons^™

Transparency: An Analysis Of An Evolving Fundamental Principle In International Economic Law, Carl-Sebastian Zoellner

Michigan Journal of International Law

This Note will first sketch the theoretical underpinnings of transparency in an interdisciplinary overview of its possible meanings and advantages in the present context. It will then survey documents and instruments of international economic law in which language embracing the transparency principle is already present. The Note's main section proceeds to ask whether, in the actual application of those agreements, the transparency principle has had any notable impact on the interpretation of state obligations. Finally, in addressing transparency's future role in international economic law, this Note briefly discusses additional problems which might be resolved through a transparency-based approach.

The Dual Purpose Of The American Jobs Creation Act Of 2004, Dennis J. Kokenos

ExpressO

The American Jobs Creation Act of 2004 claims to help bring offshore investments back to the United States. In reality, the AJCA does much more. The AJCA of 2004 makes adjustments to the U.S. tax code which helps bring the U.S. in line with existing international trade obligations as well as stimulating the U.S economy.

Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor

ExpressO

No abstract provided.

An Analysis Of The Duties And Obligations Of The International Legal Community To The Eradication Of Poverty And Growth Of Sustainable Development In Light Of The Jus Cogens Nature Of The Declaration Of The Right To Development, Freda R. Murray-Bruce

ExpressO

This paper examines the copious problem of world poverty affecting half of the world’s population in the South and assesses the international legal obligations of the international legal community, viz., developed states, transnational corporations and the international financial institutions of the IMF, World Bank and WTO to the eradication of poverty and the growth of sustainable development, in view of the inviolability and peremptory nature of the Charter of the UN, and the international human rights provisions arising therefrom. To this extent, we examine the 1986 General Assembly Declaration on the Right to Development, along with the other International Bill …

Is It A Subsidy? An Evaluation Of China's Currency Regime And Its Compliance With The Wto, Matthew R. Leviton

ExpressO

No abstract provided.

Ireland's New Responsibility: Refugees Buy The Irish Another Round, Shae D. Armstrong

ExpressO

Over the previous decade, Ireland's economic boom has attracted asylum seekers from around the globe to this small island nation. Ireland's economic explosion created growing pains for industrial sectors of the Irish economy. Ireland’s continued willingness to diversify its neighborhoods will promote even greater economic prosperity. Furthermore, refugees will satisfy several of the economic demands of Ireland’s massively growing economy. Asylum seekers granted refugee status in Ireland will satisfy present labor shortages in Ireland. Also, these refugees will allow Ireland to establish an economic partnership with non-EU countries that have a propensity to export asylum seekers.

Sharing Potential And The Potential For Sharing: Open Source Licensing As A Legal And Economic Modality For The Dissemination Of Renewable Energy Technology, Jason Wiener

ExpressO

No abstract provided.

What Makes Asset Securitization "Inefficient"?, Kenji Yamazaki

ExpressO

Despite the damage caused by the recent Enron scandal , the asset securitization market has been vibrant and has become a popular financing alternative . A number of academics emphasize its merits and suggest that it is a more favorable way of financing, and Congress’s proposal to make sales of asset in securitization immune from characterization as secured transactions under the Bankruptcy Reform Act of 2001 (the “Reform Act”) almost materialized when the Enron scandal hit the scene. Conversely, there have been accusations that securitization is not a legitimate way of financing because, for example, it fosters fraudulent transactions.

Why …

The Expansion Of Intellectual Property Rights By International Agreement: A Case Study Comparing Chile And Australia’S Bilateral Fta Negotiations With The U.S., Ralph G. Fischer

ExpressO

This paper attempts to address the ongoing debate regarding the expansion of intellectual property rights (IPRs) through international negotiations. Commentators have described three theories that purport to explain the growing scope of IPRs in international law, as reflected in international agreements: that these agreements reflect coercion by economically powerful nations; that they are the products of lobbying by multinational corporations; and that they represent autonomous, welfare-enhancing instruments that benefit all parties. The article tests these theories by using a case study comparing free trade agreement negotiations that the United States recently concluded with a less developed country, Chile, and with …

From St. Ives To Cyberspace: The Modern Distortion Of The Medieval 'Law Merchant', Stephen E. Sachs

ExpressO

Modern advocates of corporate self-regulation have drawn unlikely inspiration from the Middle Ages. On the traditional view of history, medieval merchants who wandered from fair to fair were not governed by domestic laws, but by their own lex mercatoria, or "law merchant." This law, which uniformly regulated commerce across Europe, was supposedly produced by an autonomous merchant class, interpreted in private courts, and enforced through private sanctions rather than state coercion. Contemporary writers have treated global corporations as descendants of these itinerant traders, urging them to replace conflicting national laws with a law of their own creation. The standard history …

Western Institution Building: The War, Hayek’S Cosmos And The Wto, M. Ulric Killion

ExpressO

Despite the shortcomings of Hayek’s spontaneous order, there is a positive side, perhaps even a positive feedback. Hayek left us with a “what if” question and returns us to that initial opening of Pandora’s Box, or perhaps the initial onset of neo-realism, neo-liberalism, developmentalism, globalism, transnationalism and other concepts, precepts and adjectives justifying institution building by bargaining and military force. In terms of new world order, institution building by necessity requires fundamental changes in governmental structures in non-western cultures and nation-states such as China, Afghanistan and Iraq. Such changes are being prompted by means of political, economic and military powers …

Supporting Sustained Economic Development, Steven Radelet

Michigan Journal of International Law

There is no magic formula for sustained economic development in poor countries. Strategies that succeed in one country may not be appropriate in another. Yet there are several broad similarities across the countries that have been most successful in achieving development over the past forty years. This Article takes a very broad overview of economic development in low-income countries over this period and makes three basic points.

Good Faith In The Cisg: Interpretation Problems In Article 7, Benedict C. Sheehy

ExpressO

ABSTRACT: This article examines the dispute concerning the meaning of Good Faith in the CISG. Although there are good reasons for arguing a more limited interpretation or more limited application of Good Faith, there are also good reasons for a broader approach. Regardless of the correct interpretation, however, practitioners and academics need to have a sense of where the actual jurisprudence is going. This article reviews every published case on Article 7 since its inception and concludes that while there is little to suggest a strong pattern is developing, a guided pattern while incorrect doctrinally is preferable to the current …

Modern Bootlegging And The Prohibition On Fair Prices: Last Call For The Repeal Of Pharmaceutical Price Gouging, Luke W. Cleland

ExpressO

This article discusses the recent passage of the Medicare Prescription Drug, Modernization and Improvement Act of 2003, and the executive and judicial decisions affecting the ability of the general public to access foreign pharmaceutical markets. The article examines the recent actions taken by the U.S. government, explore various state movements within the United States aimed at reducing pharmaceutical drug prices, outline the process of pharmaceutical drug prices in foreign countries, and advocate for a workable integration of all available mechanisms to feasibly reduce prescription drug prices for the benefit of both U.S. consumers and U.S. drug companies. As avenues to …

The Jekyll And Hyde Story Of International Trade: The Supreme Court In Phrma V. Walsh And The Trips Agreement, Srividhya Ragavan

University of Richmond Law Review

No abstract provided.

How Do The Social Benefits And Costs Of The Patent System Stack Up In Pharmaceuticals?, Daniel J. Gifford

ExpressO

This paper explores the workings of the patent system in the context of the generation of new pharmaceutical products. First it identifies the relevant characteristics of the patent system and its relation to the market. The paper concedes that, in general, the patent system is probably the best way of generating new technology, in substantial part because that system uses the market to provide both incentives and rewards. The paper also identifies downsides of this patent/market system: deadweight loss and the unresponsiveness of that patent/market system to the needs of the poor. The paper then explores the social costs and …

Partnerships With Monarchs: Univeiling And Re-Examining The Pattern Of "Third World" Economic Development In The Petroleum And Energy Sector, Diane M. Bales

ExpressO

No abstract provided.

Legal Institutions And International Trade Flows, Daniel Berkowitz, Johannes Moenius, Katharina Pistor

Michigan Journal of International Law

Why do domestic legal institutions matter, and why can trading parties-in particular exporters of complex goods-not easily opt-out of their domestic legal institutions? The authors argue that domestic institutions remain important even in a globalized world, because they are the final option for enforcing a claim against a party in the event of a breach of contract. International contracts take place in the shadow of the parties' home institutions. Unless parties can negotiate a settlement, or the losing party voluntarily complies with a foreign court or arbitration ruling, the winning party must seek enforcement against the assets of the losing …

Development: Domestic Constraints And External Opportunities From Glabalization, T. N. Srinivasan

Michigan Journal of International Law

In what follows, this Article first discusses the process of development in Section II. Section III is devoted to the external aspects of development, namely international trade, finance, and intergovernmental organizations. Section IV is concerned with the domestic dimensions and legal reform, drawing on the debate on legal reforms in India. The author offers a few concluding remarks in Section V.

Development, Globalization, And Law, Robert L. Kuttner

Michigan Journal of International Law

Is global commerce under essentially laissez-faire rules optimal for economic development? In this era of liberated and deregulated markets, and after the final collapse of communism, a great many commentators would consider that a self-evident question. Of course free global commerce is good for economic development, because we know that the freest possible markets produce the most efficient use of resources and the highest available rates of economic growth. And growth benefits development. How could it be otherwise? And what is the role of law in facilitating commerce and in contouring a particular regime of domestic and transnational commerce and …

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.

The Case For Auctioning Countermeasures In The Wto, Kyle Bagwell, Petros C. Mavroidis, Robert W. Staiger

Faculty Scholarship

A major accomplishment of the Uruguay Round of GATT negotiations in creating the World Trade Organization (WTO) was the introduction of new dispute settlement procedures. These procedures were intended to provide a significant step forward, relative to GATT, in the settling of trade disputes, in large part by ensuring that violations of WTO commitments would be met with swift retaliation ("suspension of concessions") by the affected trading partners. While the dispute settlement procedures of the WTO indeed represent a considerable improvement over those in GATT, nine years of experience under the new procedures suggests that significant problems of enforcement remain …

The Byrd Amendment Is Wto-Illegal: But We Must Kill The Byrd With The Right Stone, Jagdish N. Bhagwati, Petros C. Mavroidis

Faculty Scholarship

On 16 January 2003, the WTO Appellate Body issued its report on United States – Continued Dumping And Subsidy Offset Act Of 2000 (WTO Doc. WT/DS217 and 234/AB/R). In this report, the Appellate Body condemned the so-called US Byrd Amendment by finding that it was inconsistent with the US obligations under the WTO Agreements on Antidumping (AD) and Subsidies and Countervailing Measures (SCM).

Proceedings Of The Third Annual Legal & Policy Issues In The Americas Conference (2002) -- V. The Export Of Medical Supplies And Agriculture Products In Cuba -- D. Cuban Economic Relations, Berta E. Hernández-Truyol

UF Law Faculty Publications

Proceedings of the Third Annual Legal & Policy Issues in the Americas Conference (2002)

It's A Question Of Market Access, Kyle W. Bagwell, Robert W. Staiger, Petros C. Mavroidis

Faculty Scholarship

In this paper, we argue that market access issues associated with the question of the optimal mandate of the World Trade Organization should be separated from nonmarket access issues. We identify race-to-the-bottom and regulatory-chill concerns as market access issues and suggest that the WTIO should address these concerns. We then describe ways that WTO principles and procedures might be augmented to do so. As for nonmarket access issues, we argue that as a general matter these are best handled outside the WTO, and that, while implicit links might be encouraged, explicit links between the WTO and other labor and environmental …

Judicial Review And Global Federalism, Charles H. Koch Jr.

Faculty Publications

No abstract provided.

European Environmental Policy And Its Effects On Free Trade, Natalie Collins

William & Mary Environmental Law and Policy Review

No abstract provided.

The Economic Case For Labor Standards: A Layman’S Guide, Thomas I. Palley

Richmond Journal of Global Law & Business

The place of labor standards in the global economy has figured prominently in recent discussions of trade and globalization. Labor standards figured prominently in the Seattle meeting of the World Trade Organization (WTO) in 1999, and they promise to figure prominently in discussions about a proposed Free Trade Area of Americas (FTAA). Labor standards represent a critical issue for both the American labor movement and the international trade union movement as they are central to making globalization work for working people.

E-Commerce And International Political Economics: The Legal And Political Ramifications Of The Internet On World Economies, Chelsea P. Ferrette

ILSA Journal of International & Comparative Law

In the nearly 300 years since the industrial revolution,' the advancement of technology has always aided international business

The Illegality Of Unilateral Trade Measures To Resolve Trade-Environment Disputes, Kevin C. Kennedy

William & Mary Environmental Law and Policy Review

No abstract provided.