In short, the 24 selected and representative articles written in English by the author over the past 30-odd years, mainly published in international leading journals and now collected and compiled in this monograph, could be deemed the products of international academic debates. They record, reflect and embody the author’s personal views on a number of contemporary basic issues in international economic law & the international economic order. These personal views with Chinese characteristics are deeply rooted in China’s specific national situation and the common position of the world-wide weak groups, and are significantly and substantially different and independent from some existing voices from strong western powers, which is why the book bears the title “The Voice from China�. On the basis of their specific themes and content, the 24 representative articles are divided into six parts: 1) Jurisprudence of Contemporary International Economic Law; 2) Great Debates on Contemporary Economic Sovereignty; 3) China’s Strategic Position on Contemporary International Economic Order Issues; 4) Divergences on Contemporary Bilateral Investment Treaty; 5) Contemporary China’s Legislation on Sino-Foreign Economic Issues; and 6) Contemporary Chinese Practices on International Economic Disputes (Case Analysis).

This book focuses on the analysis of liability rules of tort law from an efficiency perspective, presenting a comprehensive analysis of these rules in a self-contained and rigorous yet accessible manner. It establishes general results on the efficiency of liability rules, including complete characterizations of efficient liability rules and efficient incremental liability rules. The book also establishes that the untaken precaution approach and decoupled liability are incompatible with efficiency. The economic analysis of tort law has established that for efficiency it is necessary that each party to the interaction must be made to internalize the harm resulting from the interaction. The characterization and impossibility theorems presented in this book establish that, in addition to internalization of the harm by each party, there are two additional requirements for efficiency. Firstly, rules must be immune from strategic manipulation. Secondly, rules must entail closure with respect to the parties involved in the interaction giving rise to the negative externality, i.e., the liability must not be decoupled.

The present book examines both theoretical and practical aspects of the law on indications of geographical origin (IGOs) within the framework of European Union (EU) law, pursuing four distinct yet mutually related aims. First, it discusses theoretical issues of the law on IGOs including its historical foundations, terminology, principles of regulation, legal subjectivity, protection models and loss of protection. Second, it covers the EU law on IGOs from a systematic point of view. Particularly, the systematic review of the EU law on IGOs includes an in-depth analysis of and commentary on the relevant and applicable regulations. Third, it examines current legislative initiatives and further development options for the EU law on IGOs. Finally, it reveals the interrelation of the EU law on one hand and the national laws of EU Member States on the other with regard to IGOs, focusing on harmonized and non-harmonized areas of law.

This work is an assessment of how to manage risk in property transactions in the context of the move from paper-based to electronic conveyancing (eConveyancing). In particular the focus is on risks that impact on title registration, and the security, protection or lack thereof that this registration offers to land owners, third parties and property claimants. The impact is the extent to which a change in the transactional process may unintentionally affect risk (being the consequence of change and the likelihood of that consequence having a negative effect). The risks are identified, analysed and evaluated against the backdrop of title registration and the development of eConveyancing through a comparative analysis of the systems in Ireland and Ontario, while also referencing other developing electronic systems around the globe.

This book identifies institutional mechanisms that can be used to promote consumer confidence in direct online sales with businesses (B2C e-commerce). It argues that enhancing the access to justice in a multidimensional sense can potentially offer an effective means of boosting consumer confidence. It introduces a conceptual framework for a multidimensional approach to access to justice in the context of consumer protection, describing the various reasonable criteria needed to satisfy consumer demands in B2C e-commerce. The framework, which reflects all essential aspects of consumers' expectations when they engage in online transactions, provides a benchmark for the evaluation of various consumer protection mechanisms. Based on an analysis of different mechanisms and using the framework's criteria, the practice of private ordering, which does not rely on the creation of rules of law but rather on the use of technology as a solution, appears to offer a meaningful way to enhance access to justice in B2C e-commerce. However, though private ordering holds considerable potential, certain weaknesses still need to be eliminated. This book demonstrates how private ordering can be successfully implemented with the help of an intermediary, a neutral third party that plays an integral part in the collaborative task of facilitating various aspects of private ordering, thus helping to limit the risks of failure and ensuring a fairer market setting. In order to move forward, it argues that the state, with its wealth of material resources and incentive options, is the institution best suited to acting as an intermediary in facilitating private ordering. This promising proposal can improve consumer protection, which will in turn boost consumer confidence.

This book provides a unique comparative and global analysis of the regulation of disclosure in financial (securities) markets. It is written by two authors who represent both the new world (Australia) and the old world (Germany). The authors present their research in the global business context, with legal and regulatory perspectives including some references from Africa, Asia, the Middle East and South America. After every "boom" and "bust", legislators pass new disclosure legislation, often in a heated environment fuelled by politics and the media. Little regard is paid to existing regulation or the lessons learned from earlier regulation. The result is the continuing enactment of redundant and overlapping disclosure laws. Since financial markets are often described as markets for information, the failure to ensure disclosure is at the heart of financial services regulation. This book argues that the solution to the failure of disclosure is a brief, easily understood, principles-based, plain English safety-net amendment to statute law such as "you must keep the financial market fully informed", a measure that would support effective mandatory continuous disclosure of information to financial markets. This book examines the reasons for disclosure regulation, and how the efficient operation of financial markets is dependent on disclosure. It examines the adequacy of common law and civil law concerning broker/client disclosure, and concludes that industry licensing in itself fails to keep the market informed. While recognizing the failures of securities commissions to achieve good disclosure in financial markets, it confirms the effectiveness of coregulation of disclosure by a commission with the support of the financial markets (such as the stock exchange). Coregulation builds on financial market self-regulation, and is best described in the words of one-time SEC Chairman William O. Douglas, who, in the 1930s, described it as a shotgun behind the door.

This book addresses two countervailing challenges to theory and policy in law and economics. The first is the rise of legal origins theory, which denies the comparative law view of convergence between common law and civil law by the assertion of an economic superiority of common law. The second is the series of economic crises in the very financial markets on which that assertion was based. Both trends unsettled certainties about the rule of law and institutional economics. Meeting legal origins theory in its main areas of political science, sociology and economics, the book extends the interdisciplinary reach to neglected aspects of comparative law, legal history, dynamic econometric analysis and "quasi-natural experiments" with counterfactual evidence of different institutional regimes in divided countries. These combined methodological tools make tests of the economic impact of different legal origins much more reliable. This is shown for developed and newly industrialized countries as well as developing, transforming and emerging countries with or without financial center advantage, affected or not by financial crises. The Asian financial crises and the American subprime crisis have been, or could have been resolved using the resources of common law or civil law. These cases and data on access to justice in Africa, Asia and Latin America reveal the problem of substantive law remaining "law on the books" without efficient procedural rules and judicial structures. The single most striking common law-civil law divide is that lawyer-dominated common law procedure is slower and costlier than judge-managed civil law procedure. Countries as diverse as the Netherlands, Japan, and China show functional interaction between culture and law in legal reforms. Such interaction can reduce the occurrence of legal disputes as well as facilitate their resolution. It can use economic crises as catalysts for legal reforms or rely on regional integration, and it should replace the discredited method of legal "transplants" by sustained dialogue between legal advisors and all actors involved in legal reforms.

This book is the first study to examine the issue of the legality of parallel imports of trademarked goods under the most important legal systems on an international level, namely under GATT/WTO law, EU law and the laws of the ten major trading partners of the European Union. Part I consists of a general approach to the phenomenon of parallel importation and of a presentation of the theories that have been suggested to resolve the above-mentioned issue. The rule of exhaustion of rights, of which there are three types (rule of national, regional and international exhaustion of rights), is proposed as the most effective instrument to deal with the issue in question. Part II examines the question of exhaustion of trademark rights in light of the provisions of GATT/WTO Law. Part III analyzes the elements of the EU provisions on exhaustion of trademark rights (Articles 7 of Directive 2008/95/EC and 13 of Regulation (EC) 207/2009) and some specific issues relating to the application of these provisions. Part IV presents the regimes of exhaustion of trademark rights recognized in the European Union's current ten most significant trading partners. The book is the first legal study to welcome, in light of economic analysis, the approach adopted by GATT/WTO law and EU law to the question of the geographical scope of the exhaustion of the trademark rights rule. It includes all the case law developed on an international level on the issue of the legality of parallel imports of trademarked goods and a comprehensive overview of the scientific literature concerning the phenomenon of parallel imports in general and the legality of parallel imports of trademarked goods. All the views expressed in the book are based on the European Court of Justice's most recent case law and that of the courts of the most important trading partners of the European Union.

This book provides a new analytical framework for legal problems concerning the economic order of the European Union. In order to determine the remaining scope for national economic sovereignty, and the improvement of the economic order of the Community itself, the focus of the book is the contentious relationship between competition and industrial policy under European law. The theoretical perspective used is based on a comparison between the concepts of the Treaty as an economic constitution and as a political constitution. On this basis, the convergence of competition and industrial policy at the Community level is explained as the result of the rationalisation of public policy, and the reduction of the economic independence of the member states. The study concludes that the market orientation of the European Union is not in doubt, but that a clear link remains to be established between the legitimacy of public intervention in the economy and the distribution of power in the Community system.

Does a right to property exist under international law? The traditional answer to this question is no: a right to property can only arise under the domestic law of a particular nation. But the view that property rights are exclusively governed by national law is obsolete. Identifiable areas of property law have emerged at the international level, and the foundation is now arguably being laid for a comprehensive international regime. This book provides a detailed investigation into this developing international property law. It demonstrates how the evolution of international property law has been influenced by major economic, political, and technological changes: the embrace of private property by former socialist states after the end of the Cold War; the globalization of trade; the birth of new technologies capable of exploiting the global commons; the rise of digital property; and the increasing recognition of the human right to property. The first part of the book analyzes how international law impacts rights in specific types of property. In some situations, international law creates property rights, such as rights in aboriginal lands, deep seabed minerals, and satellite orbits. In other areas, it harmonizes property rights that arise at the national level, such as rights in intellectual property, rights in foreign investments, and security interests in personal property. Finally, it restricts property rights that may be recognized at the national level, such as rights in celestial bodies, contraband, and slaves. The second part of the book explores the thesis that a global right to property should be recognized as a general matter, not merely as a moral precept but rather as an entitlement that all nations must honour. It establishes the components of such a right, arguing that the right to property at the international level should be seen in the context of five key components of ownership: acquisition, use, destruction, exclusion, and transfer. This highly innovative book makes an important contribution to how we conceptualize the protection of property and to the understanding that much of this protection now takes place at the international level.

The primary purpose of a patent law system should be to enhance economic efficiency, in particular by providing incentives for making inventions. The conventional wisdom is that patents should therefore be strictly exclusive rights. Moreover, in practice patent owners are almost never forced to give up their right to exclude others and receive only a certain amount of remuneration with, for instance, compulsory licensing. Other economically interesting patent-law objectives, however, include the transfer and dissemination of knowledge. Mechanisms exist by which the patent owner decides if he or she would prefer exclusive or non-exclusive rights, for instance the opportunity to declare the willingness to license and create patent pools. But it is questionable whether these mechanisms are sufficient and efficient enough in view of the existence of patent trolls and other problems. This work challenges the conventional wisdom to a certain extent and makes proposals for improvements.

The importance of international maritime labour law - both as a component of - ternational maritime law, and in socio-political and economic terms - has been recognised by the IMO International Maritime Law Institute for a number of years. Indeed, the Institute has annually organised a course on maritime labour law with the participation of inter alia the International Maritime Organization, the - ternational Labour Organization, the International Transport Workers' Federation, and the German Shipowners' Association. It was therefore a great pleasure when the authors invited me to introduce their forthcoming monograph on Maritime Work Law Fundamentals: Responsible S- powners Reliable Seafarers. As the title suggests, a fundamental challenge of this branch of international maritime law is to achieve a balance between the interests of the two main stakeholders. Institutionally, the effort to achieve this balance dates back a number of decades with its genesis mainly found in the work of the International Labour Organization. It has to be said that whilst this effort achieved great progress, it has led to a haphazard, plethora of legal instruments.

In an era of increased reliance on private regulatory bodies and globalised economic activity, standardisation is the field where politics, technical expertise and strategic behaviour meet and interact. International standard-setting bodies exemplify the rise of transnational governance and the challenges that it brings about relating to institutional choice, legitimacy, procedural and substantive fairness or transparency. This book takes a more empirical-based approach focusing on the mechanics of international standard-setting. It constitutes a multidisciplinary inquiry into the foundations of international standard-setting, an empirically under-researched yet important area of international informal lawmaking. Contributors expertly examine the peculiarities of international standardisation in selected issue-areas and legal orders and shed light on the attributes of international standard-setters, allowing comparisons among standard-setting bodies with a view to identifying best practices and improve our understanding about standardisation processes.

This book provides a comprehensive review of the Measures for Administration of Takeover of Chinese Listed Companies (the Chinese takeover law), with emphasis on the differences between the Chinese takeover law and takeover legislation in the UK, the US and Hong Kong. The Chinese M&A market has been booming at an unprecedented rate in recent years; not only domestic investors, but also foreign funds and multinational companies are actively participating on the market. For both market participants and researchers, it is crucial to understand the emerging and transitional aspects of the Chinese economy and its M&A market, and the impacts of those aspects on relevant laws. While there are ongoing academic discussions on the convergence between the Chinese takeover law and its counterparts in the UK, Hong Kong and the US, this book offers a comprehensive discussion of the divergence and focuses on key differences in the transplanted Chinese takeover law.

This book examines the labour standards provisions in a number of Regional and Bilateral Trade Agreements, and assesses the potential of using the relevant clauses in these trade agreements as a benchmark for a multilateral approach. Based on the lessons learned from the Regional model, the book proposes a Global Labour and Trade Framework Agreement (GLTFA) combined with a joint ILO/WTO enforcement mechanism to resolve the contentious issue of the link between the CLS and international trade. The history of the linkage between the Core Labour Standards (CLS) and international trade dates back roughly 150 years, and has recently become one of the most vexing issues facing policy-makers. At the heart of the debate is the question whether or not trade sanctions should be imposed on countries that do not respect the CLS as embodied in multilateral conventions administered by the International Labour Organization (ILO). Concretely, this would entail inserting a social clause in the World Trade Organization (WTO) rules, and would trigger the imposition of sanctions on those countries that do not adhere to the CLS.

'As business spreads across the world, but jurisdictions remain essentially national, means must be found whereby business may effectively regulate itself and be regulated for public benefit. This important book addresses these issues, at theoretical and practical levels, explaining important sectoral examples and with deeper analysis. It is both timely and important, and provokes ideas for actions that should be taken at both transnational and national levels. The range of issues covered is rich and impressive.' - Christopher Hodges, Oxford University, UK and Erasmus University, Rotterdam, The Netherlands 'Globalization pushes the boundaries of markets. Alongside the greater ''goods'' of transnational economic activity come the ''bads'' of unregulated conduct. This important book looks to the new frontiers of legal intervention to make sure that global markets do not run riot over important public values. The signal contribution is not the search for ever higher levels of transnational authority - the superstates of a brave new world - but empowering numerous private actors to enforce legal norms in our fast-changing economic environment.' - Samuel Issacharoff, New York University, School of Law, US This book addresses the different mechanisms of enforcement deployed in transnational private regimes vis-a-vis those in the field of public transnational law. Enforcement represents a key dimension in measuring the effectiveness and legitimacy of transnational private regulation. This detailed book shifts the focus from rule-making to enforcement and compliance, and moves from a vertical analysis to a comparative sectoral analysis. Both public and private transnational regulation fall under the scrutiny of the authors, and the book considers the effectiveness of judicial models of enforcement - under international law and through national courts - and of non-judicial means. Comparisons are drawn across sectors including international commercial law, labor law, finance, Internet regulation and advertising. Enforcement of Transnational Regulation will appeal to scholars of both private and public law, regulation and comparative law. It will also prove a stimulating and challenging read for policy makers and law makers. Contributors: E. Benvenisti, F. Cafaggi, F. Casarosa, S. Cassese, E. D'Alterio, K.E. Davis, M. De Bellis, G.W. Downs, C. Estlund, F. Francioni, G.P. Miller, E.-U. Petersmann, C. Scott, R. Stewart, P. Verbruggen

This work focuses on a specific aspect of the enforcement of maritime claims, namely judicial sales of ships, a procedure creditors typically resort to in the event of an irreversible default situation. A substantial part of the book approaches the topic from a comparative perspective, the goal being to assess the similarities and differences of the judicial sale procedure between three specific jurisdictions: Belgium, the Netherlands, and England & Wales. In this study, the comparison is used to further analyse the impacts of these differences on the effectiveness and reliability of the judicial sale procedure in each jurisdiction and also forms the basis for assessing the feasibility of harmonising judicial sale procedures and fostering their acceptance. Considering the international character typical of judicial sales of ships, conflict-of-law questions are very likely to arise during these procedures. Accordingly, the comparative study, where appropriate, is viewed against a private international law background.

This book is a major work that focuses exclusively on ship finance and includes contributions on the increasingly complex field of ship finance, which has over the last two decades become a key aspect in the world of shipping and ship owning. The book offers an enlightening mix of theoretical analysis and well-founded practical insights into the daily markets. Given that ship finance continues to develop dynamically around the world, the book covers subjects ranging from the German KG market to Islamic Finance, from loans to legal aspects and from asset pricing to risk management.

This sixth volume (2015) of the European Yearbook of International Economic Law puts a particular emphasis on non-tariff barriers (NTBs) to trade and the world trade order. With the steady reduction of tariff rates since the GATT 47 came into force, focus in recent years has been on the vast and complex landscape of non-tariff barriers to trade. States as well as scholars seemingly struggle with the multitude of measures pooled under this expression as there is no single, acknowledged definition of the term, and its relation to the term “non-tariff measures� remains equally blurred. Particularly in practice and on a multilateral level, there appears to be some awkwardness when it comes to coping with NTBs since multilateral trade rules seem to be in conflict with national regulatory autonomy in the pursuit of policy objectives. In part one, this volume sheds light on the problems of non-tariff barriers to trade that arise in various fields. Part two focuses on regional integration with an emphasis on relations between East Asia and the European Union. In this regard, the authors outline the trade and investment relations between the European Union and East Asia, including Japan, Korea and Singapore. Part three offers an overview of recent institutional developments in WIPO, ICSID, WTO and WTO jurisprudence. Part four includes book reviews of recent works in the field of international economic law, and part five introduces a new section on publications in the field of international economic law that were released in 2013 and 2014.

Exploring in depth the institutions that underpin the global economy, this study provides invaluable insights into why a minimum economic order has endured for so long and why states are unwilling to establish a maximum order, a global safety net for all. The author investigates how debt, a critical component of states' economic infrastructure, leads to debilitating crises, and how these crises undermine the economic autonomy and political independence of states. A must read for those who wish to understand how the world economic order operates and impacts the well-being of individuals and entire populations, this book is indispensable for professionals and students in the fields of law, political sciences and international relations and those who seek to understand why economic peace is, in many cases, beyond our reach.

This book describes the energy-law situation in Brazil. It focuses on three specific energy sectors: oil, natural gas and biofuel. The decision to concentrate on these areas takes into account the role that these energy sectors play in the economic, political and legal systems in Brazil, as well as the fact that they are the primary subjects of current discussions surrounding economic regulation in the country. The book, composed of thematic chapters authored by specialized legal researchers, analyzes the different aspects of the oil, gas and biofuels industry, starting with an introduction and technical points and followed by a discussion of the legal issues. It also considers the different legal areas used to examine the aforementioned energy sectors, such as regulatory law, environmental law, tax law, international law, among others. The book will serve as a valuable guide for researchers interested in understanding Brazilian energy law, and at the same it time presents the state of the art of studies carried out in Brazil.

This book aims to identify, analyze, and systematize the available research on counterfeiting and piracy published over a thirty-five year time span (1980-2015) in order to highlight the main trends in the illicit trade literature, propose suggestions for managers battling against illicit trade, and provide a starting point for future research. Counterfeiting and piracy, i.e., the violation of intellectual property rights (IPRs), including trademarks, copyright, and patents, have been investigated across a multitude of fields, from ethics to marketing, from law to business, from criminology to psychology. While the number of contributions has been substantial, research on both demand and supply has been fragmented and has at times yielded contradictory results. In addition, the lack of an extensive, interdisciplinary, and up-to-date literature review has made it hard to fully understand what aspects of the phenomenon need further clarification in order to stem consumer demand and provide meaningful suggestions to companies combatting illicit trade daily. A systematization of the existing literature is absolutely paramount and this need is fully met by this book.

On 1 August 2008 the Chinese Anti-Monopoly Law entered into force, introducing a comprehensive framework for competition law to the Chinese market. One set of the new rules pertains to merger control. China's Ministry of Commerce (MOFCOM) was nominated as the authority responsible for enforcing merger control in China and has been actively doing so ever since. Recent years have established China as one of the most important merger filing jurisdictions for cross-border mergers alongside the EU and USA. This work evaluates the Chinese merger control law regime and MOFCOM's decision-making practice after more than five years of application. In particular, it assesses which policy goals (competition policy goals or industrial policy considerations) prevail in the written law and its application and provides suggestions for a further improvement of the law - with the aim to develop a transparent merger control regime that promotes long-term economic growth in China.

This publication provides an unparalleled comparative analysis of two "hot topics" in the field of antitrust and unfair competition laws with regard to a number of key countries. The first part of the book examines whether small and middle-sized businesses could or should be subject to specific competition rules. These businesses account for 99% of the enterprises in Europe and the United States, making this a particularly important topic. The papers consider both the public and private enforcement rules across a range of jurisdictions and a detailed international report, prepared by Michele Carpagnano, identifies general trends and highlights differences and the most interesting features of national regulations. The second part of the book gathers contributions from various jurisdictions on the unfair competition question of whether a company could or should be protected against the use of their trademark, distinctive signs and other components of their image and identity on the part of non-competing companies. The papers focus on the fundamental issue of the competitive relationship as a condition of protection under unfair competition acts and the connection to intellectual property protection. The comprehensive and insightful international report, prepared by Martine Karsenty-Ricard, brings together these reflections by comparing various national positions. The book also includes the resolutions passed by the General Assembly of the LIDC following a debate on each of these topics, which include proposed solutions and recommendations. The International League of Competition Law (LIDC) is a long-standing international association that focuses on the interface between competition law and intellectual property law, including unfair competition issues.

This book examines the relationship between regulation and market integration, with a special focus on China. It pursues a Law and Economics and Comparative Law approach (China and EU) to analyze the current obstacles to market integration and domestic economic growth in China. Topics covered at the national level include competition law, public procurement rules and financial regulation. At the regional and local level, this book addresses questions related to administrative monopolies, self-regulation, legal services markets, and environmental law.