International Trade Law Commons^™

The Collateral Protection Of Rights In A Global Economy, Sheldon Leader

NYLS Law Review

No abstract provided.

Domestic Bonds, Credit Derivatives, And The Next Transformation Of Sovereign Debt, Anna Gelpern

Georgetown Law Faculty Publications and Other Works

Not long ago, financial markets in most poor and middle-income countries were shallow to nonexistent, and closed to foreigners. Governments often had to rely on risky borrowing abroad; the private sector had even fewer options. But between 1995 and 2005, domestic debt in the emerging markets grew from $1 trillion to $4 trillion. In Mexico, domestic debt went from just over 20% of the total government debt stock in 1995 to nearly 80% in 2007. Foreign and local investors are buying. Over the same period, derivative contracts to transfer emerging market credit risk surpassed the market capitalization of the benchmark …

A Healthy Solution For Patients And Patents: How India's Legal Victory Against A Pharmaceutical Giant Reconciles Human Rights With Intellectual Property Rights, Sara B. Myers

Vanderbilt Journal of Entertainment & Technology Law

The Swiss drug company Novartis challenged India's status as the "Pharmacy of the Developing World" when it initiated a lawsuit against the Indian government on February 15, 2007. In 2005, India updated its Patents Act to comply with the World Trade Organization's (WTO) intellectual property requirements. Before 2005, India only granted patents to processes, not products, which facilitated the development of the country's booming generic drug industry. On January 25, 2006, India's Office of the Controller General of Patents, Designs and Trademarks denied Novartis's patent application for its cancer-fighting drug Glivec on the grounds that it was not substantially different …

Recapturing Public Power: Is Investment Arbitration's Engagement Of The Public Interest Contributing To The Democratic Deficit?, Barnali Choudhury

Vanderbilt Journal of Transnational Law

Globalization has changed the way sovereign states regulate their societies. The effect of globalization has been the creation of several international agreements that transfer decision-making from the national to the international level. An important subset of these agreements is international investment treaties; an estimated 2,500 of these treaties have been entered into worldwide by a number of states, especially in the last ten to twelve years. As these agreements almost always contain arbitration clauses, the number and scope of arbitrations handling disputes under these investment agreements have grown exponentially. Arbitrators governing these disputes are now regularly reviewing domestic public interest …

International Commercial Arbitration And International Courts, Mark L. Movsesian

Faculty Publications

The editors of this symposium have asked us to address an interesting question. Why hasn't international commercial arbitration’s (ICA's) success been repeated in the context of international courts? In the last few decades, states have created scores of permanent tribunals with jurisdiction to resolve disputes about international law. By and large, though, states have not been as receptive to the rulings of these tribunals. What accounts for this comparative lack of hospitality? Why do states treat ICA and international adjudication so differently?

In this essay, I offer an explanation. States treat ICA and international adjudication differently because they are categorically …

Trade, Empires, And Subjects--China-Africa Trade, Uche E. Ofodile

Vanderbilt Journal of Transnational Law

Since 2000, the interest of the People's Republic of China (China) in Africa has grown steadily. Trade between China and Africa has grown exponentially. China-Africa trade volume increased from $10 billion to $18 billion between 2000 and 2003. In 2005, total trade between Africa and China surged to $40 billion, and in 2006 China-Africa trade was valued at $55.5 billion. A third of China's crude oil imports come from Africa. In the West, reaction to China's involvement in Africa has bordered on suspicion and paranoia. Policy makers and analysts are concerned that China could gain control over Africa's vast and …

Looking Beyond The Dabhol Debacle: Examining Its Causes And Understanding Its Lessons, Preeti Kundra

Vanderbilt Journal of Transnational Law

This Note analyzes foreign direct investment in India, looking into the investment troubles surrounding the Dabhol power project, India's largest foreign investment project to date. After providing an introduction to the mechanics of project finance and a backdrop to the Dabhol power project, the Note considers whether the Indian government's actions, specifically the use of the Indian legal system, constituted "total expropriation" and violations of international law. Additionally, this Note considers what systemic changes India can make in order to create a more investment-friendly environment in the post-Dabhol context.

Dubai Or Not Dubai?: A Review Of Foreign Investment And Acquisition Laws In The U.S. And Canada, Chris Lalonde

Vanderbilt Journal of Transnational Law

The proposed purchase of a British company that controlled several ports in the United States by Dubai Ports World could accurately be described as one of the most politically contentious acquisitions in U.S. history. The transaction raised questions not only about U.S. foreign investment laws but provoked national security concerns, as well. Similar issues were raised more recently during the acquisition of a share in Nasdaq by the Dubai stock exchange. In the same vein, Canada has seen similar issues arise during recent transactions involving domestic companies--most notably the acquisition of PrimeWest Energy by TAQA, the national energy company of …

Corporate Social Responsibility Of Multinational Enterprises And The International Business Law Curriculum, Constance Z. Wagner

All Faculty Scholarship

The author argues for expanded coverage of corporate social responsibility in the U.S. law school curriculum. Corporate social responsibility is of increasing importance for businesses, particularly for those companies that conduct multinational operations. Current national legal and regulatory regimes fail to adequately address the social and environmental issues that arise in business operations. As a result, intergovernmental organizations, non-governmental organizations and businesses have begun to promulgate voluntary codes ofconduct. These codes touch on such subjects as core labor standards, environmental protection, bribery offoreign government officials in international business and human rights. Examples include the Organization for Economic Cooperation and Development …

The Wto And The Anti-Corruption Movement, Padideh Ala'i

Scholarly Articles in Law Reviews & Journals

This article explores the role of the World Trade Organization (WTO) in promoting good governance while placing WTO within the larger framework of the ongoing global anti-corruption movement. Governmental policies aimed at fighting corruption are part of the good governance criteria set forth by the World Bank and other donor agencies. An important element of good governance is transparency, which has also been one of the pillars of the multilateral trading system. This article argues that from the perspective of the post-Cold War anti-corruption movement, the WTO is an important institution because it provides a comparatively successful forum for the …

Enhanced Protections For Geographical Indications Under Trips: Potential Conflicts Under The U.S. Constitutional And Statutory Regimes, David Snyder

Scholarly Articles in Law Reviews & Journals

No abstract provided.

The American Law Institute Goes Global: The Restatement Of International Commercial Arbitration, George A. Bermann

Faculty Scholarship

The American Law Institute's new Restatement of the U.S. Law of International Commercial Arbitration is only barely underway, and the reporters began with a chapter, namely the recognition and enforcement of awards, that should represent for them a comfort zone of sorts within the overall project. Yet, already a number of difficult, and to some extent unexpectedly difficult, questions have arisen. Some of the difficulties stem from the very nature of an ALI Restatement project. Others stem from the nature of arbitration itself and, more particularly, from the inherent tension between arbitral and judicial functions in the arbitration arena. Still …

The Asean Charter As "Legs To Go Places": Ideational Norms And Pragmatic Legalism In Community Building In Southeast Asia, Eugene K. B. Tan

Research Collection Yong Pung How School Of Law

The Charter of the Association of Southeast Asian Nations (ASEAN) has been hailed as a legal instrument that would integrate the ten constituent members as a community and a regional organization. Ostensibly, the Charter has three strategic thrusts in support of the vision of the ASEAN Community. The first is to formalize ASEAN as an institution while streamlining its decision-making processes. Secondly, the Charter seeks to strengthen ASEAN institutions. Thirdly, it seeks to establish mechanisms to monitor compliance and settle disputes. The article considers the extent to which the Charter will help ASEAN achieve its aims. This is especially pertinent …

Take The Training Wheels Off The League: Major League Soccer's Dysfunctional Relationship With The International Soccer Transfer System, Omar H. Ayad

Vanderbilt Journal of Entertainment & Technology Law

Currently in its eleventh season, Major League Soccer (MLS) is struggling to establish its identity and niche in the international soccer community. In particular, issues of player control and transfer regulations continue to distinguish and alienate the league from the elite soccer associations of Europe, as well as the overall global soccer community. Since Fraser v. Major League Soccer, the league has been defined as a single entity and, thus, is free to wield substantial control over player contracting and placement, while avoiding charges of monopolistic behavior. MLS has taken advantage of this freedom when executing international transfers of MLS …

Infrastructure Development In Emerging Economies And The Roles Played By Multilateral Institutions, Amjad Ahasan Basheer

LLM Theses and Essays

This thesis is a study of the development of long-term infrastructure projects in the emerging economies. The essay addresses the emerging economies’ particular attraction to project finance to bring in much needed foreign investment for implementing infrastructure projects instead of obtaining loans, grants, and assistance from international institutions and wealthy donor countries. While the investors have found new opportunities to invest in the emerging economies, it is not without its own set of risks. To assist both the host nations and the investors, bilateral institutions as well as multilateral institutions provide risk insurance for long-term infrastructure projects. These institutions not …

The Permissible Reach Of National Environmental Policies, Henrik Horn, Petros C. Mavroidis

Faculty Scholarship

Trading nations exchange tariff concessions in the context of trade liberalizing rounds. Tariffs, nonetheless, are not the only instrument affecting the value of a concession. Domestic instruments affect it as well, but public order is not negotiable, and, consequently, is not scheduled. Public order is unilaterally defined, but must respect the default rules concerning allocation of jurisdiction which are common to all WTO Members and bind them by virtue of their appurtenance to the international community. In this paper, we focus on the interaction between trade and environment. The purpose of this study is to highlight how these rules and …

No Outsourcing Of Law? Wto Law As Practiced By Wto Courts, Petros C. Mavroidis

Faculty Scholarship

This article provides a critical assessment of the corpus of law that the adjudicating bodies of the World Trade Organization (WTO) – the Appellate Body (AB) and panels – have used since the organization was established on January 1, 1995. After presenting a taxonomy of WTO law, I move to discern, and to provide a critical assessment of, the philosophy of the WTO adjudicating bodies, when called to interpret it. In discussing the law that WTO adjudicating bodies have used, I distinguish between sources of WTO law and interpretative elements. This distinction will be explicated in part I below. Part …

Foreword, Jagdish N. Bhagwati

Faculty Scholarship

The launch of the Indian Journal of International Economic Law by the students at the National Law School of India University is a milestone. It fills an important lacuna in India's study of WTO law and should begin to provide us with informed perspectives on the evolving WTO jurisprudence excessively dominated by the perceptions and objectives of policymakers in powerful developed countries and by the activism of the gigantic, financially-flush NGOs like Friends of the Earth and Oxfam reflecting the viewpoints of their origin and location.

Empirically Evaluating Claims About Investment Treaty Arbitration, Susan Franck

Scholarly Articles in Law Reviews & Journals

With the blossoming of empirical legal scholarship, there is an increased appreciation for the insights it offers issues of international importance. One area that can benefit from such inquiry is the resolution of disputes from investment treaties, which affects international relations, implicates international legality of domestic government conduct, and puts millions of taxpayer dollars at risk. While suggesting there has been a "litigation explosion", commentators make untested assertions about investment treaty disputes. Little empirical work transparently explores this area, however. As the first research that explains its methodology and results, this article is a modest attempt to evaluate claims about …

Public International Law And The Wto: A Reckoning Of Legal Positivism And Neoliberalism, S. G. Sreejith

San Diego International Law Journal

This Article proceeds in five parts. In part one, I review the scholarly skepticism as to how far international law is law in the "hard" sense and show that this skepticism has always permeated the discipline. In part two, I go on to examine what has prompted contemporary scholarship to credit the WTO with helping international law grow out of the "thin" normativity often attributed to it. The analysis suggests that certain features of legal positivism customarily associated with law in its strict sense, which were alleged to be lacking in international law, are found in the institutional apparatus of …

Integrating Investment Treaty Conflict And Dispute Systems Design, Susan Franck

Scholarly Articles in Law Reviews & Journals

With the debate on the renewal of the Trade Promotion Authority Act, the proper terms of investment treaties - including dispute resolution provisions - have become an issue of public scrutiny. In a so-called litigation explosion, investors resolve disputes against host governments through international arbitration mechanisms in investment treaties; and there is little evidence of reliance on other processes like mediation. This escalation has lead to a teething period where parties and non-parties have expressed divergent views as to the efficacy, efficiency and fairness of the dispute resolution process. With billions of dollars and sovereignty at stake, the dispute resolution …

Using The Unidroit Principles To Fill Gaps In The Cisg, John Y. Gotanda

Working Paper Series

The United Nations Convention on the International Sale of Goods (CISG) sets forth only a basic framework for the recovery of damages, thereby giving a court of tribunal broad authority to determine an aggrieved party’s loss based on circumstances of the particular case. Unfortunately, the lack of specificity has resulted in much litigation, and seemingly conflicting results. To remedy this problem, some have argued that the gaps in the CISG damages provisions should be filled with the UNIDROIT Principles of International Commercial Contracts. In this paper, I argue that the gap-filling rules of CISG preclude the UNIDROIT Principles from being …

Is International Trade A Substitute For Migration?, Robert J. Carbaugh

All Faculty Scholarship for the College of Business

If a goal of immigration reform is to lessen the flow of unauthorized immigrants into the U.S., could international trade be used to deter immigration rather than adopting legal barriers? The purpose of this paper is to shed some light on this question by considering the theoretical foundations and empirical research regarding the connection between trade and migration.

Mexico's Implementation Of The Biodiversity Convention And The Catagena Protocol In The Gmo Era: Challenges In Principles, Policies, And Practices, Juan Antonio Herrera

PhD Dissertations

Recent developments in genetic modification and the use of Living Modified Organisms (LMOs) in agriculture have ignited a debate over the potential effects of these organisms on biological diversity. This controversy materializes in the clash between the international environmental and trade regimes. Multilateral Environmental Agreements (MEAs), such as the 1992 Convention on Biological Diversity (CBD) focus on the preservation of biological diversity and, in the case of the Cartagena Protocol on Biosafety (Cartagena Protocol), the safe transfer of LMOs. These Agreements encourage States to base national decisions to allow LMO imports on environmental and risk assessments using the precautionary principle. …

The Ties That Bind? Regionalism, Commercial Treaties, And The Future Of Global Economic Integration, Chris Brummer

Vanderbilt Law Review

A revolutionary shift in international cooperation is underway. Many governments, frustrated with dissension hampering multilateral trade reform at the World Trade Organization ("WTO"), are now turning to bilateral and regional treaties to forward their commercial interests.1 Under these agreements, which rocketed from fewer than 390 in 1989 to more than 2,400 today,2 states have relinquished key aspects of their economic sovereignty to participate in two-party pacts and regional trade clubs like the North American Free Trade Agreement ("NAFTA") and the European Union ("EU"). As a result of such cooperation, most countries no longer may levy tariffs easily, subsidize their domestic …

The Failure Of The United Nations Convention On Contracts For The International Sale Of Goods And A Proposal For A New Uniform Global Code In International Sales Law, Christopher Sheaffer

Cardozo Journal of International and Comparative Law

The note critiques the United Nations Convention on Contracts for the International Sale of Goods (CISG) for failing to achieve its goal of creating a uniform international sales law due to ambiguities, inconsistent judicial interpretations, and language discrepancies. It proposes the development of a new Global Code to address these shortcomings, emphasizing the need for clearer guidelines, a unified interpretation framework, and mechanisms to ensure consistency across jurisdictions.

Has India Addressed Its Farmers' Woes? A Story Of Plant Protection Issues, Srividhya Ragavan, Jamie Mayer O'Shields

Faculty Scholarship

The paper examines issues relating to establishing breeders rights in developing nations by taking India as an example. At the outset, the paper examines the international obligations relating to protecting plant breeder’s rights by examining the requirements under Article 27.3 of the TRIPS agreement. In doing so, the paper examines analyzes what amounts to an effective sui generis system as required under TRIPS.

Further, the paper analyzes the constituents of the models currently touted by developed nations and outlined under the Union for Plant Variety Protection (UPOV, 1991) to determine the model’s ability to fulfill the TRIPS requirement. In determining …

The International Enclosure Movement, Peter K. Yu

Faculty Scholarship

Most of the recent intellectual property literature concerns the enclosure of the public domain or the one-way ratchet of intellectual property protection. While these concerns are significant and rightly placed, a different, and perhaps more important, enclosure movement is currently taking place at the international level. Instead of the public domain, this concurrent movement encloses the policy space of individual countries and requires them to adopt one-size-fits-all legal standards that ignore their local needs, national interests, technological capabilities, institutional capacities, and public health conditions. As a result of this enclosure, countries are forced to adopt inappropriate intellectual property systems, and …

It-Apas: Harmonizing Inconsistent Transfer Pricing Rules In Income Tax - Customs - Vat, Richard Thompson Ainsworth

Faculty Scholarship

In most jurisdictions there are three separate spheres of transfer pricing analysis - income tax, customs and VAT. Although they share policy objectives, terminology and frequently borrowing methodologies from one another these domestic transfer pricing systems are not in harmony.

Businesses find this lack of harmony costly, problematical, but also a planning opportunity. The door is open for arbitrage.

What if the transfer pricing rules within a jurisdiction were harmonized? The World Customs Organization (WCO) and the Organization of Economic Cooperation and Development (OECD) are considering this question.

This paper synthesizes the range of transfer pricing regimes currently in use, …

A Lesson From The East: International Labor Rights And The U.S.-Cambodia Trade Agreement Of 1999, Michael Hecker

Buffalo Public Interest Law Journal

No abstract provided.