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An increasing number of international trade disputes are settled through the WTO dispute settlement (DS) procedure. In parallel, an increasing number of international investment disputes are settled through investor-host state arbitration procedure. What does "transparency" mean in the context of international trade and investment dispute settlement? Why is enhanced transparency demanded? To what extent and in what manner should these dispute settlement procedures be transparent? The book addresses these issues of securing transparency in international trade and investment dispute settlement. Transparency in international trade and investment dispute settlement drew attention of internationa...
This is the first book that critically examines the reform of the Appellate Body (AB) of the World Trade Organization (WTO) in light of the current crisis resulting from the U.S. blocking of the appointment of its members. The reform of the AB is critical, as the appointment crisis could lead to the demise of “the jewel in the crown,” which may even cause the dismantling of the WTO as a whole. This book covers various aspects of the crisis and its reform. Specifically, as the crisis cannot be fully understood without reviewing the role of the AB from the broader perspectives of the other functions of the WTO, the book examines the reform of the AB from the broader perspectives of the WTO governance. Additional focus is on the reform of the AB in relation to its specific functions. Available options are provided to address the AB crisis, as well as discussion of wider implications beyond the WTO. Contributed by world-renowned academics, experts, and practitioners in the field of international economic law, this volume provides a comprehensive analysis of the AB crisis and its solutions.
Globalization in the 1990s provided both opportunities and challenges for developing and transition economies. Though for some, it offered the chance to achieve economic growth through active involvement in the integrated and liberalized world economy, it also increased their vulnerability to external shocks and volatility. As a consequence, stakeholders at every level of the development and transition process – international organizations, national governments and the private sector – had to review their strategies in order to adjust to the new world economic environment. As the Mexican peso crisis of 1994-1995 and the Asian financial crisis of 1997-1998 showed dramatically, the cost of maladjustment was not only very high but it also affected many more stakeholders than before, due to the contagious effects of crises. This revealing book analyzes the different methods employed to manage globalization and development. Bringing together an international team of contributors, including Barbara Stallings, Alicia Giron and J. C. Ferraz, it will prove to be a valuable resource for those involved in the fields of development economics and political economy.
Mega free trade agreements (FTAs) are being formed to fill the gap created by new developments in global governance and are reshaping the world economic order. The Trans-Pacific Partnership (TPP) agreement is one of such 21st century FTAs. This book highlights three trade-related issues covered by the TPP that greatly concern emerging countries – investment, intellectual property rights (IPR), and state-owned enterprises (SOEs). It contains rigorous economic, legal, and political analyses on the final text of the agreement, combined with country-specific policy discussions focusing on Indonesia, the Philippines, Thailand, and Viet Nam, giving readers insights on the establishment of global rules and regulations for 21st century trade. The book also outlines the requirements for emerging Asian countries to better formulate trade policies in the new era of international trade and promote regional integration in ASEAN and East Asia.
This book provides readers with a unique opportunity to explore how the international economic legal order (IELO) may look in a post-WTO world. The substance of this book presupposes (whether correct or not) that the WTO either: (a) Stagnates into the foreseeable future (Doha withers, no new Rounds, at best minor amendments, little new jurisprudence, effective collapse of the DSB); or (b) Falls apart completely. While neither is desirable, the book underlines that it must be conceded that neither is inconceivable. The collapse of the Soviet Union tells us that anything is possible (in 1986 no one foresaw the end of the Cold War - clearly it was a much more significant event than would be the...
More and more members of the WTO are using anti-dumping (AD) measures as an effective tool for protecting domestic industries facing competition with foreign products. In contrast to the 'big four' (US, EC, Canada and Australia), which have been using AD measures frequently since the GATT era, many of the new users established their AD regimes and began to use them after the establishment of the WTO. Why are there more and more new users? How are they applying AD measures? Do they comply with the rules of the WTO Anti- Dumping Agreement? What are their specific characteristics in the handling of AD cases? What should exporters and practitioners do to prepare for AD investigations by the new users? Based on extensive analyses of primary materials and hearings from practitioners and AD authorities, this book provides detailed and updated information to answer these questions on the following new users: China, Chinese Taipei, Korea, Thailand, India, South Africa, Mexico, Argentina, and Brazil.
Nationalization disputes in natural resources development are among the most disputed issues of international investment law. This book offers a fresh insight into the nature of nationalization disputes in natural resources development and the rules of international investment law governing them by systematically analyzing (1) the content of investment contracts in natural resources development, and (2) the results of nationalization disputes in natural resources development from the perspective of dynamic bargaining theory. Based on the comprehensive and systematic empirical analyses, the book sheds new light on contractual renegotiation and renewal as a hardly known but practically normal solution of nationalization disputes and presents a set of soft law rules governing contractual renegotiation and renewal.
With changes to the international investment law landscape and Asian countries now actively developing their network of bilateral investment treaties (BITs) and free trade agreements (FTAs), this volume studies issues relating to Asian perspectives on international investment law and forecasts the future of Asian contribution to its science and practice. The book discusses the major factors that have been driving Asian countries to new directions in international investment rule-making and dispute settlement. It also looks at whether Asian countries are crafting a new model of international investment law to reflect their specific socio-cultural values. Finally, the book examines whether there are any ‘Asian’ styles of international investment rule-making and dispute settlement, or if individual Asian countries are seeking specific national ‘models’ based on economic structure and geopolitical interests. This unique collection is exceptionally useful to students, scholars and practitioners of international investment law, international trade law and public international law.
Reconciling regionalism and multilateralism is a challenge common to all branches of global economic governance. While the Bretton Woods/GATT (WTO) institutions, decades-old multilateral framework for global economic governance, are facing serious challenges to their effectiveness, regional framework are emerging as complementary or alternative means of global economic governance. The real challenge is how to reconcile multilateralism and regionalism in global economic governance. This book tackles this problem by analysing issues of multilateral/regional conciliation and coordination in global economic governance, focusing on Asia. Chapters of the book deal with challenges of multilateralis...
This book analyzes the mechanism of transnational private regulations (TPRs) in the global property investment market and the conditions of their effectiveness for sustainable urban development. In the present economy, with control over national legislation alone, state policymakers have been challenged to regulate transnational investors, markets, and issues such as global warming, financial crises, food safety risks, deforestation, and cross-border business transactions. Transgovernmental networks of regulators have assembled representatives and technical experts from national regulatory agencies, nongovernmental organizations, private firms, and business organizations. As private corporat...