The Association of Southeast Asian Nations (ASEAN) has experienced rapid economic growth for many years. Although the population of ASEAN is larger than the EU-28, the emerging ASEAN market, called the ASEAN Economic Community (AEC), is still little understood by policy makers in many parts of the world, by business professionals and students, as well as by scholars in economics, business, politics and economic law. This book provides, for the first time, a rigorous analytical approach of the new AEC and its intricacies. It sets out its ambition, scrutinises its economic integration logic and detects its deficits. Besides a detailed analysis of the AEC Roadmap, the book also elaborates on its achievements. Several strategic economic options for the AEC, in particular as an instrument to accelerate the economic development of the region, are explored.

This pioneering book addresses an important gap in the literature by comparing the role of the public bureaucracies in policy implementation in Indonesia, Malaysia, the Philippines, Singapore and Vietnam. It highlights the importance of the policy context, especially the commitment of the government in allocating the necessary resources and the support of the implementers, as well as the public bureaucracy's effectiveness, as the critical factors responsible for effective policy implementation. The comparative analysis shows that the public bureaucracies in Singapore and Malaysia are more effective in policy implementation than their counterparts in Indonesia, the Philippines and Vietnam because of their favourable policy contexts and higher level of organizational effectiveness. The focus on policy context and the public bureaucracy's role in the policy-making process and its implementation of two ASEAN policies will be of interest to policymakers, civil servants, scholars and students concerned with enhancing policy implementation in the ASEAN countries.

How do politics and international economic law interact with each other? Financial crises and shifts in global economic patterns have refocused our attention on how the fingerprints of the 'visible hand' can be seen all over the institutions that underpin the rules of globalization. From trade and investment to finance, governments are under pressure to enforce, resist and rewrite international economic law. Lawyers have seldom given enough attention to the influence of politics on law, whereas political scientists have had an on-again, off-again fascination with how the law influences relations among states. This book leads the way toward filling this interdisciplinary gap, through a series of important studies written by leaders in the field on specific problems in international economic relations. The book demonstrates a variety of ways in which the international political-economic nexus may be researched and understood.

The history of the world trading system and international trade agreements is characterised by shifts between bilateralism, regionalism and multilateralism. Bilateralism has recently returned, having gained momentum following the failed WTO negotiations at the 1999 Seattle Ministerial Conference. The result is that today's international trade rules are now a complex web of instruments and agreements. This volume contains case studies of selected bilateral and regional free trade agreements (FTAs), covering a wide range of countries, regions and key issues such as intellectual property and agriculture. Authored by leading scholars, practitioners and governmental officials, each case study provides a comprehensive review of the negotiating history and result of the selected agreement. Each study can serve as an in-depth examination of a particular FTA, and the group of case studies can be used to compare and contrast the coverage of different FTAs or to examine the FTAs signed by a particular country.

The stalling of the Doha Development Round trade negotiations has resulted in bilateral and regional free trade agreements (BRTAs) becoming an important alternative. These agreements have proliferated in recent years, and now all of the major trading countries are engaging in serious bilateral trade negotiations with multiple trading partners. This second edition provides updated and comprehensive analysis of the contents and trends of recent BRTAs. It is unique in that it situates these agreements in their economic, international law and international relations contexts. It also comprehensively reviews the recent agreements in relation to each substantive topic covered (e.g. intellectual property, investment, services and social policy) so as to provide an overview of the law being created in these areas.

Developments within various sub-fields of international law influence international investment law, but changes in investment law also have an impact on the evolution of other fields within international law. Through contributions from leading scholars and practitioners, this book analyses specific links between investment law and other sub-fields of international law such as the law on armed conflict, human rights, sustainable development, trade, development and EU law. In particular, this book scrutinises how concepts, principles and rules developed in the context of such sub-fields could inform the content of investment law. Solutions aimed at resolving problems in other settings may provide instructive examples for addressing current problems in the field of investment law, and vice versa. The underlying question is whether key sub-fields of public international law, notably international investment law, are open to cross-fertilisation, or, whether they are evolving further into self-contained regimes.

The global financial crisis and subsequent sovereign debt crisis in Europe demonstrated that the relationship between law and economics in the design of the monetary system must be revisited. International monetary affairs are usually conducted via domestic monetary policies which are formulated by independent central banks and informed mainly by economics, without much room being left to substantive law. Based on the 2012 World Trade Forum, this volume brings together leading scholars, practitioners and policy makers in international economic law in order to examine the potential of law and legal methodology to contribute to international monetary stability. It explores the links between and lessons to be learnt from existing international investment and trading systems and studies some specific policy issues which have a direct impact on monetary affairs, such as exchange rate policy, sovereign debt, taxation, competitiveness, trade imbalances, austerity programmes and human rights.

This companion to Transnational Commercial Law: Text, Cases and Materials contains up-to-date primary materials for students without linking commentary. This compilation of instruments covers areas such as treaty law, contracts, electronic commerce, international sales, agency and distribution, international credit transfers and bank payment undertakings, international secured transactions, cross-border insolvency, securities settlement and securities collateral, conflict of laws, civil procedure, and commercial arbitration

The post-war liberal economic order seems to be crumbling, placing the world at an inflection point. China has emerged as a major force, and other emerging economies seek to play a role in shaping world trade and investment law. Might they band together to mount a wholesale challenge to current rules and institutions? Emerging Powers in the International Economic Order argues that resistance from the Global South and the creation of China-led alternative spaces will have some impact, but no robust alternative vision will emerge. Significant legal innovations from the South depart from the mainstream neoliberal model, but these countries are driven by pragmatism and strategic self-interest and not a common ideological orientation, nor do they intend to fully dismantle the current ordering. In this book, Sonia E. Rolland and David M. Trubek predict a more pluralistic world, which is neither the continued hegemony of neoliberalism nor a full blown alternative to it.

Conventional wisdom on the insufficiency of existing WTO disciplines on export restrictions has triggered momentum on the issue. In this book, Ilaria Espa offers a comprehensive analysis of the scope and coverage of WTO disciplines on export restrictions in light of emerging case law. She investigates whether such rules still provide a sufficient, credible and effective framework capable of preventing abuses in the use of export restrictive measures on critical minerals and metals during a period of economic crisis and change in international trade patterns. Giving a broad overview of the export restrictions applied to these materials, Espa identifies distinctive features in the proliferation of export barriers and analyses the existing WTO rules to reveal their scope, gaps and inconsistencies. She goes on to present solutions based upon her findings with the aim of bringing more coherence and equity to WTO rules on the export side.

This concise and practical guide to the most important economic techniques and evidence employed in modern merger control draws on the authors' extensive experience in advising on European merger cases. It offers an introduction to the relevant economic concepts and analytical tools, and stand-alone chapters provide an in-depth overview of the theoretical and practical issues related to market definition, unilateral effects, coordinated effects and non-horizontal mergers. Each form of economic evidence and analysis is illustrated with practical examples and an overview of key merger decisions.

Are the limitations imposed on World Trade Organization (WTO) members' right to regulate efficient? This is a question that is only scarcely, if ever, analysed in existing literature. Boris Rigod aims to provide an answer to this fundamental concern. Using the tools of economic analysis and in particular the concept of economic efficiency as a benchmark, the author states that domestic regulatory measures should only be subject to scrutiny by WTO bodies when they cause negative international externalities through terms of trade manipulations. He then suggests that WTO law, applied by the WTO judiciary can prevent WTO members from attaining optimal levels of regulation. By applying a law and economics methodology, Rigod provides an innovative solution to the problem of how to reconcile members' regulatory autonomy and WTO rules as well as offering a novel analytical framework for assessing domestic regulations in the light of WTO law.

In this study, Caroline Henckels examines how investment tribunals have balanced the competing interests of host states and foreign investors in determining state liability in disputes concerning the exercise of public power. Analyzing the concepts of proportionality and deference in investment tribunals' decision-making in comparative perspective, the book proposes a new methodology for investment tribunals to adopt in regulatory disputes, which combines proportionality analysis with an institutionally sensitive approach to the standard of review. Henckels argues that adopting a modified form of proportionality analysis would provide a means for tribunals to decide cases in a more consistent and coherent manner leading to greater certainty for both states and investors, and that affording due deference to host states in the determination of liability would address the concern that the decisions of investment tribunals unjustifiably impact on the regulatory autonomy of states.

We could not have a global economy without a system to resolve commercial disputes across borders, but the international regime that performs this key role bears little resemblance to other institutions underpinning the global economy. A hybrid of private arbitral institutions, international treaties, and domestic laws and courts, the regime for commercial dispute resolution shows that effective transborder institutions can take a variety of forms. This book offers the first comprehensive social scientific account of this surprisingly effective regime. It maps and explains its evolution since the Industrial Revolution, both at the global level and in the United States, Argentina, and China. The book shows how both political economy approaches and socio-legal theories have shaped institutional outcomes. While economic interests have been the chief determinants, legal processes have played a key role in shaping the form institutions take. The regime for commercial dispute resolution therefore remains between interests and law.

There is considerable variation in the nature, scope and institutional forms of legal protection for valuable geographical brands such as Champagne, Colombian coffee and Darjeeling tea. While regional products are increasingly important for producers, consumers and policy makers, the international legal regime under the TRIPS Agreement remains unclear. Adopting a historical approach, Dev Gangjee explores the rules regulating these valuable geographical designations within international intellectual property law. He traces the emergence of geographical indications as a distinct category while investigating the key distinguishing feature of the link between regional products and their places of origin. The research addresses long-standing puzzles, such as the multiplicity of regimes operating in this area; the recognition of the link between product and place and its current articulation in the TRIPS definition; the varying scope of protection; and the extent to which geographical indications ought to be treated as a category distinct from trade marks.

The law of marine insurance constitutes a major branch of the law of international trade and shipping law which is of considerable international importance. This new edition gives a clear, updated account of English marine insurance law, combining detailed analysis of modern statute and case law with a clear comprehension of practice and commerce in the shipping world. The discussion embraces not only the constantly evolving case law, but also standard forms and clauses (including the 2003 International Hull Clauses), and the rules of mutual insurance associations. Coverage includes all relevant areas of general insurance contract law as well as all issues of specifically marine insurance law. The entire text of the second edition has been considered afresh and includes significant new or additional material in particular relating to: historical background, insurable interest, policy formation, the doctrine of utmost good faith, premiums, policy interpretation, excluded losses, third party rights, losses, claims, aversion and minimisation of loss, insurers' contribution rights, and composite policies. Presenting a revised structure with the practitioner in mind, this new edition includes a new chapter on interpretation and rectification of insurance contracts.

This collection explores the theme of fragmentation within international economic law as the world emerges from the 2008 global financial crisis, the subsequent recession and the European sovereign debt crisis which began in early 2010. The post-crisis 'moment' itself forms a contemporary backdrop to the book's focus on fragmentation as it traces the evolution of the international economic system from the original Bretton Woods design in the aftermath of the Second World War to the present time. The volume covers issues concerning monetary cooperation, trade and finance, trade and its linkages, international investment law, intellectual property protection and climate change. By connecting a broad, cross-disciplinary survey of international economic law with contemporary debate over international norm and authority fragmentation, the book demonstrates that this has been essentially a fragmented and multi-focal system of international economic regulation.

ASEAN has undertaken the complex task of creating a single economic entity for Southeast Asia by 2015 in the form of the ASEAN Economic Community (AEC), but without regulators or supranational institutions, its implementation has been an inconsistent process. Through comparisons with the EU and NAFTA, this book illustrates the shortcomings of the current system, enabling readers to understand both the potential of regional economic development in ASEAN and its foundational and institutional deficiencies. The authors' analysis of trade in goods and services, investment, and dispute resolution in the AEC indicates that without strong regional institutions, strong dispute resolution or a set of norms, full and effective implementation of the AEC is unlikely to result. The book offers clear solutions for the ASEAN institutions to help the AEC reach its full potential. Written by two leading practitioners, this insightful book will interest policymakers, students and researchers.

From Treaty-Making to Treaty-Breaking is the first high-level analysis of ASEAN's external trade agreements with non-ASEAN states. It clearly sets out the intended, and unintended, consequences of ASEAN's prevailing method of treaty making, with suggested guidelines for the future. The book begins by asking whether ASEAN trade agreements follow worldwide trends in the substantive content of such agreements. It raises questions such as: to what extent is it possible to continue concluding trade agreements through individual member states?; what are the legal consequences - from negotiation and conclusion (treaty-making) through to possible breach of the agreements (treaty-breaking)?; should ASEAN resort to mixed treaty-making? This study does not seek to give a definitive answer to these questions, rather it opens up the topic to readers by suggesting different possible models for ASEAN trade agreements. This thought-provoking book will appeal to anyone interested in trade negotiations and trade agreements, particularly in Asia.

ASEAN economic cooperation and integration have come a long way since the organisation's early days, when cooperation was more political and diplomatic than economic in nature. ASEAN now constitutes the most ambitious organisation of regional cooperation and integration in the developing world. This book investigates the economics of various ASEAN and ASEAN-centric economic integration initiatives, focusing in particular on the ASEAN Economic Community (AEC). In addition to assessing the potential effects of the AEC on the economies of the ten ASEAN member states via changes in trade, foreign direct investment and economic structure, this book underscores the implementation challenges ASEAN faces as it completes the AEC project. It also considers the AEC in the context of the Regional Comprehensive Economic Partnership (RCEP). This comprehensive study is written for academic researchers and students, as well as for policy makers in ASEAN as they chart the future policy path of the region.

Labour law and social policy have long provided an arena within which key debates over the depth and pace of European integration have taken place. Increasingly, as the European Union's employment policy has matured, employment and economic policy discourses have come to displace discourses around social policy and social law, a displacement which has occurred in tandem with a shift from legislative harmonisation to the use of 'soft law' and governance by means of guidelines. This book charts the evolution of the European Employment Strategy and the new forms of governance to which it has given rise, in particular the 'open method of coordination'. It offers an interdisciplinary exploration of European social law and employment policy, scrutinizing the law and economics of labour market regulation in the European context and responding to the economic critique of traditional notions of social protection. Through a detailed examination of the legal and economic underpinnings of the European Employment Strategy, the author outlines the implications of this strategy for labour law, social protection and industrial relations within the EU. Using the open method of coordination in the European Employment Strategy as a case study, the book also provides a timely contribution to the growing literature on 'new governance' in the EU. This innovative form of governance has the potential to forge a middle course through the regulatory choices facing the EU: the choice over the appropriate level of regulation in the EU, whether national or supranational; that over the legitimate role for the state in regulating or deregulating the labour market; and ultimately, the choice between centralised harmonization and regulatory competition.

For centuries, international trade has been seen as essential to the wealth and power of nations. More recently we have started to understand its problematic role as an engine of distributive justice. In this compelling book Frank J. Garcia proposes a new way to evaluate, construct and manage international trade - one that is based on norms of economic justice, comparative advantage and national interest. Garcia examines three ways to conceptualize the problem of trade and global justice, drawn from Rawlsian liberalism, communitarianism and consent theory. These approaches illustrate specific issues of importance to the way global justice has been theorized, offering a pluralistic mode of arguing for global justice and highlighting the unique modes of discourse we employ when engaging with global justice and their implications for conceptualizing and arguing the problem. Garcia suggests a new direction for trade agreements built around truly consensual trade negotiations and the kind of international economic system they would structure.

This book is an ideal sourcebook for students and practitioners who are interested in international business transactions and want to gain familiarity with the law and practice of international trade law, policies and ethics.

It contains eleven chapters, which deal extensively with the United Nations Convention on Contracts for the International Sale of Goods, The UNIDROIT Principles of International Commercial Contracts, Incoterms 2000, Carriage of Goods by Sea, Land and Air, Letters of Credit law, the World Trade Organization, international intellectual property law, anti-dumping and countervailing laws and international commercial arbitration law.

Each chapter examines an important aspect of international trade and business by describing and analyzing the relevant law, policies and ethical issues, posing tutorial problems or providing sample examination questions and lists of references and incorporating extracts from relevant international documents and conventions.

The World Trade Organization (WTO) Agreement covers the vast majority of international commerce in goods and services. The Agreement covers not only measures that directly affect trade, such as import tariffs and import quotas, but potentially almost any type of internal measure with an impact on trade. Thus WTO legal texts are by necessity expressed in vague terms, and in need of continuous interpretation. The overarching aim of the project Legal and Economic Principles of World Trade Law, led by the American Law Institute, is to contribute to the analysis of WTO law in not only law but also economics. This volume reports work done thus far to identify improvements to the interpretation of the Agreement. It starts with two background studies, the first of which summarizes the study The Genesis of the GATT, published by Cambridge University Press in 2008, which highlights the negotiating history of what became the GATT 1947-1948; the second study, coauthored by Gene M. Grossman and Henrik Horn, is an introduction to the economics of trade agreements. These are followed by two main studies. The first, authored by Kyle Bagwell, Robert W. Staiger, and Alan O. Sykes, discusses legal and economic aspects of the GATT regulation of border policy instruments, such as import tariffs and import quotas. The second, written by Gene M. Grossman, Henrik Horn, and Petros C. Mavroidis, focuses on the core provision for the regulation of domestic policy instruments the National Treatment principles in Art. III GATT."

From the nation-building of Alexander Hamilton to the trade wars of Donald Trump, trade policy has been a key instrument of American power and wealth. The open trading system that the United States sponsored after the Second World War serves US interests by promoting cooperation and prosperity, but also allows the allies to become more independent and China to rise. The case studies in Trade and American Leadership examine how the value of preferential trade programs is undercut by the multilateral liberalization that the United States promoted for generations, and how trade sanctions tend either to be too economically costly to impose or too modest to matter. These problems are exacerbated by a domestic political system in which the gains from trade are unevenly distributed, power is fragmented, and strategies are easily undermined. Trade and American Leadership places special emphasis on today's challenges, and the rising danger of economic nationalism.