International Trade Law Commons^™

Obtaining Personal Jurisdiction Over Alien Corporations--A Survey Of U.S. Practice, John D. Gleissner, David C. Veeneman, S. Rodgers Wheaton

Vanderbilt Journal of Transnational Law

With the increase in international trade, civil litigation between persons of different nationalities has become increasingly important. Today alien and foreign corporations are being brought before American courts to defend actions arising out of products liability, contract, and tort. There is considerable authority holding alien and foreign corporations amenable to jurisdiction on the basis of a single act or business transaction. The states themselves are affecting international trade since state law is chosen to determine the amenability of alien and foreign corporations to suit in diversity actions in federal court.

This survey presents a cross-section of recent cases and attempts …

The Andean Group's Program For Industrial Development Of The Metalworking Sector: Integration With Due And Deliberate Spid, D. B. Furnish, W. F. Atkin

University of Miami Inter-American Law Review

No abstract provided.

Legal Protection Of Loans To Developing Country Borrowers, Lajos Schmidt

Vanderbilt Journal of Transnational Law

At the Bretton Woods Conference in July 1944, in introducing the proposal for what is today the World Bank, John Maynard Keynes predicted: "In the dangerous and precarious days which lie ahead, the risks of the lender will be inevitably large and most difficult to calculate. The risk premium reckoned on strict commercial principles may be beyond the capacity of an impoverished borrower to meet, and may itself contribute to the risks of ultimate default." Three decades later this problem of the gap between the developed-country lender's required risk premium and the developing-country borrower's ability to generate an investment return …

International Oil--Shortage, Cartel Or Emerging Resource Monopoly?, James T. Jensen

Vanderbilt Journal of Transnational Law

In the early days of industrialization in the United States, giant combines with great market power developed in a number of industries, such as oil, steel and railroads. Out of that era arose a body of domestic law and regulation that sought to define the limits within which those organizations could function in the economic life of the country. The Sherman and Clayton Acts formed the basis for antitrust law. Regulatory agencies such as the Federal Power Commission, the Interstate Commerce Commission and the Federal Trade Commission were formed to regulate the excesses of the private sector. We may now …

The United States In Pending World Trade Negotiations, Theodore R. Gates, J. Dapray Muir

Vanderbilt Journal of Transnational Law

The United States emerged from World War II as the only major trading nation with a strong economic and financial position. The post-War international trading structure, embodied in the General Agreement on Tariffs and Trade (GATT) and the International Monetary Fund (IMF) frameworks, was established with the United States in the position of a dominant, largely self--sufficient producer of many and superior goods. The succeeding three decades, however, have witnessed radical changes in that circumstance. No longer is a "fortress America" economically feasible. The United States is no longer self-sufficient in a number of raw materials on which it depends; …

An Evaluation Of The Need For Further Statutory Controls On Foreign Direct Investment In The United States, Gregory E. Andrews

Vanderbilt Journal of Transnational Law

Negative opinions about the expansion of direct foreign participation in the American economy have ranged from xenophobic fears of a foreign economic takeover of the United States to more responsible concerns for the possible need to inhibit foreign penetration of certain critical industries and raw material sectors. These fears and negative reactions have been exacerbated by a paucity of available information to verify or rebut them. A number of congressional committees, therefore, have responded by scheduling investigatory hearings on foreign direct investment, while several members of Congress recently have sponsored legislation in this area. Senator Daniel Inouye (D-Hawaii), has introduced …

Tokyo As An International Capital Market--Its Economic And Legal Aspects, Mitsuru Misawa

Vanderbilt Journal of Transnational Law

The internationalization of the Japanese capital market began in 1955, but for a considerable length of time the market served only as a source of foreign capital needed to cover the deficits in the nation's balance of payments. It was not until after 1970, when the Japanese balance of payments showed a steady surplus, that the Japanese market could accommodate the issue and acquisition of foreign securities on a full-fledged scale, and that Tokyo could become a truly international capital market. This trend, however, proved to be short-lived, for the steep rise in the cost of oil imports has recently …

Foreign Banking In The United States, James A. Johnson

Vanderbilt Journal of Transnational Law

Foreign banking in the United States is no longer a nominal activity. The assets of foreign bank agencies and branches tripled from 1965 to 1972, increasing to approximately 13 billion dollars. During this same time, assets of United States banks abroad rose to 75 billion dollars-an eight-fold increase.

Yet, despite this dramatic growth--which surely will continue--the United States remains the only major country in which foreign banking is not supervised at the national level. No valid constitutional or practical reasons exist to support state control. Although New York and California, which share the major portion of foreign banking at the …

Legal And Institutional Barriers To United States--Soviet Trade: Soviet Perspective, Christopher Osakwe

Vanderbilt Journal of Transnational Law

Traditionally, law, economics, and politics have always been interrelated elements. Within this interaction economics and politics have often alternated as the leading determinant of future development, whereas law has acted as an appendage of both or, at least, as a catalyst for future political and economic changes in the given society. This analysis of the close interaction between law, economics, and politics applies not only domestically but also internationally. If foreign policy is nothing but a continuation of domestic policy by other means, it follows that the foreign policy of a particular nation is shaped by a variety of factors …

Recent Developments, Craig G. Christensen

Vanderbilt Journal of Transnational Law

The debacle of the Nationalist regime in China and the subsequent United States trade embargo on the People's Republic of China (China) from 1949 to 1970, resulted in the deletion or obsolescence of United States federal income tax incentives previously applicable to Sino-American trade. The benefits of these tax provisions were transferred, with the Nationalist government, to the Taiwan-based Republic of China (Taiwan). Moreover, foreign trade tax measures enacted during the economic stalemate were largely inapplicable to China, but enhanced existing trade with Taiwan and Hong Kong. Initial United States responses to the current detente with China portend increasingly significant …

United States Protectionism In International Trade--The Laws, The Courts, And The Economic Rationale--An Overview, Levi Daniel Boone Iii

Kentucky Law Journal

No abstract provided.

Exports And Antitrust: Must Competition Stop At The Water's Edge?, Dudley H. Chapman

Vanderbilt Journal of Transnational Law

The ground rules governing competition in international trade rank high among current issues of economic policy. The President's pending Trade Bill and its companion bill on competitive practices place a new emphasis on issues of unfair competition. These issues were prominent during the early 1900's and the interwar years but have rested in abeyance through the long post-war transition. The economic predominance of the United States characterized the post-war period. Now that Europe and Japan are once again formidable competitors in the world marketplace, the rules governing competition on the international level have regained their prior importance. As may be …

Survey Of Czechoslovak Laws Affecting East-West Trade, Stephen J. Vasek Jr.

Law Faculty Scholarly Articles

Between 1960 and 1967 all of the major codes of Czechoslovak laws were redrafted. The culminating work in the redrafting process was the New Economic Model (NEM) which became effective in January, 1967. Under the NEM, allocation of resources and trade decisions were to be made primarily on the basis of profitability. The key to the implementation of the profit motive was the new market price system, under which prices were eventually to be determined by supply and demand rather than set by administrative fiat. Bonuses were to be paid workers and managers based upon the profitability of their enterprise. …

International Transactions In A Cold Climate; Or Whatever Became Of The Law Merchant?, Henry Harfield

Vanderbilt Journal of Transnational Law

International trade can be conducted only under the rule of law. There is no rule of law that governs international trade. These statements form a paradox, and the beginning of two possible syllogisms. One construction is that since there is no rule of law governing international trade, and international trade is dependent upon the rule of law, international trade must perish. The other and more hopeful construction is that international trade does exist, it must exist, and because it is dependent upon the rule of law, a rule of law must be devised.

I believe in the latter formulation, but …

Book Reviews, Werner Baer, John B. Marshall, Justin P. Wilson, Emmanuel Bello

Vanderbilt Journal of Transnational Law

INDIRECT TAXATION IN DEVELOPING ECONOMIES: THE ROLE AND STRUCTURE OF CUSTOMS DUTIES, EXCISES, AND SALES TAXES

By John F. Due

Baltimore: The Johns Hopkins Press, 1970. Pp. viii, 201. .$9.00

reviewer: Werner Baer

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THE INTERNATIONAL LAW OF CIVIL WAR

Edited by Richard A. Falk

Baltimore: Johns Hopkins Press, 1971. Pp. xix, 452. $15.00

reviewer: John B. Marshall

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NATIONAL INTERESTS AND THE MULTI-NATIONAL ENTERPRISE

By Jack N. Behrman

Englewood Cliffs, New Jersey: Prentice-Hall, 1970. Pp. 194. $4.95

reviewer: Justin P. Wilson

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TRANSNATIONAL BUSINESS COLLABORATION AMONG COMMON MARKET COUNTRIES: ITS IMPLICATIONS FOR POLITICAL INTEGRATION

By Werner J. Feld

New …

Book Review. Cases And Materials On The Regulation Of International Trade And Investment By C. H. Fulda And W. F. Schwartz, A. A. Fatouros

Articles by Maurer Faculty

No abstract provided.

The Foreign Trade Regime In The Comecon Countries Today, Kazimierz Grzybowski

Faculty Scholarship

No abstract provided.

Foreign Income In The Music Industry, Leo Strauss, Jr.

Vanderbilt Journal of Transnational Law

The record and music industries have grown tremendously and have become much more sophisticated in recent years. At one time a music publisher merely listened to a song and if he liked it he acquired the copyright. A recording artist or a recording A & R man would record those songs that he happened to like. Those who were lucky had their share of hits. This normally does not work any more, although it does in certain localized contexts. The record industry is big business and spans national borders as well as continents, affecting and bringing into contact with each …

Book Review, Jason G. Reynolds

Vanderbilt Journal of Transnational Law

In this book author Michael Tanzer focuses upon the familiar and prolific theme of oil's impact upon the under-developed countries (UDC's). Tanzer does, however, approach the subject from a different angle: he concentrates upon oil's effects on the oil-importing UDC's rather than its effects upon the oil-exporting UDC's. One expects at first that this change in emphasis would produce a vastly different account of the plight of the UDC's. It turns out, however, that despite the basic dissimilarity between importing and exporting of oil, the problems facing the importing UDC's are quite similar to the well-known problems long experienced by …

Communist China's Foreign Trade Contracts And Means Of Settling Disputes, Gene T. Hsiao

Vanderbilt Law Review

International trade involves a host of legal problems. Basic among these are the institution of contracts and the principles of settling disputes. Nations may enter into trade treaties and agreements to define and regulate their commercial relations, but actual transactions are always concluded on the basis of contracts. In the case of disputes arising from these contracts, the parties often resort to conciliatory or arbitrary means instead of court litigation. Communist China has over the course of the past eighteen years established trade relations with more than 120 countries and regions. In so doing, the Peking regime has relied upon …

International Agencies And The Capital Formation Process, Lester Nurick

Vanderbilt Journal of Transnational Law

The theme of my address will be (a) the principal means by which the international public lending institutions (principally the International Bank for Reconstruction and Development--the World Bank), the International Development Association (IDA), the International Finance Corporation (IFC), and the Inter-American Development Bank (IADB)) join with others in the channeling of funds from private, governmental and other international sources for development projects, and (b) some of the main legal problems which arise.

An operation of this kind is usually called a joint financing operation. However, it should be noted that in a sense every loan by an international organization for …

The Common Market Twenty-First Century (With An International Franchising Assist), Bernard Goodwin

Vanderbilt Journal of Transnational Law

The development of a supranational economy calls for novel legal approaches to bridge the gaps created by national boundaries. These barriers are now too artificial with the increasingly accelerated pace of an ever-shrinking world of speedy, even instantaneous, communications, much more so than they were in the pre-Industrial Revolution era ending with the close of the eighteenth century.

To understand the possibilities of a supranational economy, it will be helpful to look briefly at history, because some intergroup action or economy has always existed among neighboring groups. It was usually the power of one group over another that controlled their …

A Symposium On State Trading, William W. Bishop, Jr., Edwin D. Dickinson

Vanderbilt Law Review

It is a privilege and an honor to be invited to introduce the following collection of articles on State Trading. In planning and organizing this symposium, the Vanderbilt Law Review has chosen to deal with an important factor in contemporary economic life--a factor which has widespread ramifications in both domestic and international law. The included articles cover a wide variety of subjects, and represent view-points which differ considerably. They have the common quality of clear and full presentation of information about current problems, while at the same time suggesting further lines for investigation. Each article offers much of interest and …

Commercial Treaties And International Trade Transactions In East-West Trade, Clive M. Schmitthoff

Vanderbilt Law Review

Operations of international trade law are transacted on two levels--that of public law and that of private law. This distinction is clearly drawn in the Report of the Secretary-General of the United Nations on "The Progressive Development of the Law of International Trade," a report which, it may be recalled, preceded the establishment of the United Nations Commission on International Trade Law (UNCI-TRAL) in December 1966. That report limits its ambit to the "law of international trade," which is defined as "the body of rules governing commercial relationships of a private law nature involving different countries." The report excludes from …

Book Reviews, Josef Rysan, L. G., G. C., R. P. B., W. E. W.

Vanderbilt Journal of Transnational Law

THE FUTURE OF GERMANY

It is significant that the most brilliant and penetrating analysis of the West German democracy comes from the pen of the leading German philosopher, Karl Jaspers. This fact demonstrates that German philosophy which used to be exclusively an "ivory tower" affair has finally come to grips with contemporary social problems. The English edition contains not only the translation of Jaspers' German bestseller, but also of the philosopher's just published "Answer to My Critics."

reviewer: Josef Rysan

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THE ENGLISH

by David Frost and Antony Jay

255 pages Stein and Day, New York, 1968.

reviewer: L.G.

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International Trade And Economic Expansion, Jagdish N. Bhagwati

Faculty Scholarship

The recent literature on the effects of economic expansion on international trade has been concerned with two principal problems: the impact of the expansion on the terms of trade; and the resultant change in the welfare of the trading nations. The solutions offered, however, are not fully satisfactory. Thus H. G. Johnson [5) and W. M. Corden [3], who attempt to tackle the first problem, succeed only in establishing the direction, as distinct from the extent, of the consequential shift in the terms of trade. In so far as the full impact of the expansion on the terms of trade …

Protectionism And The Future Of International Shipping, Ted Lynn Mcdorman

Dalhousie Law Journal

It is Dr. Ademuni-Odeke's view that international shipping is "an industry in decline" and "in a mess" principally because of the abuse of national policies designed to give preference to national fleets or protect national fleets from international competition. The desire of nontraditional maritime nations to establish national merchant marines utilizing preference or protectionist policies has led to a confrontation with traditional maritime nations who espouse liberal economic principles, yet practice the same protectionist policies. The United States is the classic example of a maritime state which utilizes the full array of protectionist policies (flag preference, flag discrimination, state intervention, …

Exchange Control, Roland J. Stanger

Articles by Maurer Faculty

No abstract provided.

The Antitrust Laws In Foregin Commerce, Robert A. Nitschke

Michigan Law Review

The Sherman Act applies to trade or commerce "with foreign nations." Are there differences in the act's application to foreign trade compared with its application to domestic commerce? The Attorney General's National Committee to Study the Antitrust Laws was constituted at a time when this question was pressing for an answer.

During the 1920's and 1930's, the international cartel movement was in full Hood. American companies participated in some of these international arrangements, often in the belief that they were a necessary condition for world trade and upon the legal premise that restrictions adjunctive to patent and know-how licenses were …

Book Review. Sinclair, H. M., The Principles Of International Trade, Ralph F. Fuchs

Articles by Maurer Faculty

No abstract provided.