'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

Since its creation by the Treaty of Asuncion in 1991, the regional trade association of MERCOSUR has been plagued by financial crises in its member states. Yet it continues, albeit slowly, to meet its objectives. To its four full members (Brazil, Argentina, Paraguay, and Uruguay) it has already added Chile and Bolivia as associate members, and continues its negotiations with the Andean Community and even with Mexico. This book by a leading authority on the subject is the first full-length analysis of the viability of MERCOSUR as an effective engine of economic development. Drawing on vast reservoirs of expertise and insight, Professor Guira considers the phenomenon of MERCOSUR in all its real-world and theoretical contexts, from forces inherent in Latin American history to its role in a global trading regime dominated by the WTO, the IMF, the EU, and NAFTA. He provides in-depth commentary on the nexus between the economic crises of member states (particularly Brazil and Argentina) and the multiple and complex linkages that animate MERCOSUR s continuing and distinct identity. He finds that, despite the modest effect to date of MERCOSUR on the economic development of its member states, the laws and institutions that characterise the organisation are now sufficiently established to weather the confidence-building challenge that must be met and overcome if the major Latin American nations are to play a role in global commerce that matches their enormous economic significance. Every scholar, practitioner, official, and policymaker working anywhere in the fields of international trade law or international relations must read this book. In putting together the world trade puzzle, players oftenfind that the MERCOSUR piece is missing or incomplete. With the publication of this book, a major deficiency is fully remedied.

This book examines the interplay between cooperation on technical barriers to trade (TBT) in free trade agreements and the multilateral framework of the World Trade Organization. In recent years, TBT, especially differences in standards, have attracted increased interest and have been addressed as part of the WTO+ negotiated agenda in trade agreements. Because of a number of political and legal constraints, the process of further cooperation at the WTO have been stalled, which made free trade agreements a central pillar in setting the agenda of international trade governance. This leads us to rethinking the interrelation between the WTO and free trade agreements and to questioning the role of both fora in the future of trade. The book examines some TBT provisions in free trade agreements and highlights their positive and problematic aspects when it comes to the WTO-consistency and the ideas of open and inclusive trade. It also suggests that a more optimal way forward would be to increase parallel work on TBT cooperation at the WTO, a more inclusive forum that could address issues of global significance, such as environmental protection and regulation of digital goods. The book explores the potential for trade agreements to advance the WTO agenda, but notes that the organization would need to adapt its institutional structure and governance in order to do so. Drawing on the example of the EU and US so-called “new generation� trade agreements, the book provides a detailed analysis of the various methods used to navigate TBT cooperation, and offers insight into how these agreements can serve as inspiration for future multilateral disciplines. This book is a valuable resource for trade law academics, policymakers, and anyone interested in the intersection of technical barriers to trade, regional trade agreements, and the WTO.

The processes of legal and economic integration at a regional and global scale have created powerful legal and economic dilemmas. They challenge the paradigms of constitutionalism,including the State's monopoly of constitutionalism, the autonomy of national political communities and the traditional forms of participation and representation. The phenomena of globalisation and regional forms of governance have promoted the inter-dependence of national political communities and destroyed the artificial boundaries upon which national constitutional democracies are found and from which they derive their legitimacy. Furthermore, it is inevitable that the development of international trade and economic integration will raise claims for some form of global distributive justice to complement the wealth maximisation arising from free trade. This will come from the gradual development of global forms of political discourse and law-making, challenging State constitutionalism and requiring some of the instruments and theories of constitutionalism. The essays in this collection, written by leading scholars in international trade law, argue the pros and cons of greater regional and global regulation. They conclude that whatever the final framework for international trade, the critical decisions about institutional form and content will be decided in an emerging global political arena. They help to identify this political arena, who governs it, and according to which rules, and identify the different institutional alternatives in that global political arena.

This is the third revised edition of this text which was first published in 1989, and based on a General Course held by the author at The Hague Academy of International Law in 1986. It is designed to serve as a standard textbook on international economic law, suitable for reference and studies. This edition takes account of some of the new developments in international economic law, such as the ramifications of the Internet. The comprehensive analysis of all rules of public international law having direct influence on economic relations has been maintained and elaborated. Special attention is paid to the claims for a new international economic order, the extraterritorial reach of domestic legislation, the effects of nationalization, the protection of the environment, state immunity and economic welfare.

International Investment Treaties and Arbitration Across Asia brings together leading academics and practitioners to examine whether and how the Asian region has or may become a significant 'rule maker' in contemporary international investment law and dispute resolution. The editors introduce FDI trends and regulations, investment treaties and arbitration across Asia. Authors add country studies for the ten member states of the Association of Southeast Asian Nations as well as an overview of ASEAN treaties, or examine other potential 'middle powers' (Korea, Australia and New Zealand collectively) and the emerging 'big players' (China, Japan and India). Two early chapters present econometric studies of treaty impact on FDI flows, in aggregate as well as for Thailand, while two concluding chapters offer other normative and forward-looking perspectives.

To the contention that the advent of electronic commerce demands a near-complete jettisoning of existing laws affecting business transactions, the authors of the essays in this book answer: not so. Rather, the resolution to the challenge lies in the combination of existing legal elements from heretofore disparate disciplines, and the creation from these elements of a new field of legal principle and practice, a field that will nonetheless overlap with classical commercial law. Perhaps the most significant feature of this emerging body of law is that it is necessarily transnational, as e-commerce cannot be contained within national borders. Although there is a general consensus that "what holds off line, holds on line", there are circumstances that give rise to legal issues peculiar to the information technology environment. These essays deal with some of these issues and other relevant matters, including the following: the country-of-origin principle in EU law; variations in national implementations of the European Directive on electronic signatures; civil liability of Internet service providers; negligence, damage, defective products, culpable wrongdoing and other tort issues in an on-line context; defining the moment of effectiveness of an e-mail notice; "good faith and fair dealing" on-line; the Internet as a zone of "socially responsible spontaneity"; protection of databases - how much is too much?; international private law issues in business-to-consumer disputes; and redefining the separate realms of litigation, legal advice and rule-making as e-commerce grows in the years to come. This book elaborates and updates a staff exchange that took place in 2001 among legal scholars from the Universities of Oxford and Leiden. Its insights represent some of the best-informed thinking on the legal aspects of this all-pervasive feature of contemporary society.

This book aims to describe the mechanisms of the internal wholesale electricity market in terms of the legal tools and practices used by electricity producers, the most important market participants. In this regard, the focus is on Northwestern Europe. Because of the book's functional perspective, it is not limited to the external regulation of electricity markets at the EU level and also describes the business models and practices employed by electricity producers. Both the physical and financial marketplaces are examined and topics including electricity supply, balancing, transmission and derivatives are covered. The target for the completion of the EU's internal electricity market was 2014. The internal wholesale electricity market is very important not only for electricity producers, suppliers and major end consumers but also for network operators, marketplace operators, electricity technology firms, investment firms and market regulators.

This book is about law, but it is not a law book. It is aimed at all interested contemporaries, lawyers and non-lawyers alike. Richly seasoned with personal memories and anecdotes, it offers unique insights into how European courts actually work. It is generally assumed that independence is part and parcel of the role and function of a judge. Nevertheless, European judges sometimes face difficulties in this regard. Owing to their being nominated by a government, their limited term of appointment, and the possibility of being reappointed or not, their judicial independence can be jeopardized. Certain governments have a track record of choosing candidates who they believe they can keep on a leash. When this happens, private parties are at risk of losing out. The EFTA Court is under even more pressure, since the EEA/EFTA states Iceland, Liechtenstein and Norway essentially constitute a pond with one big fish (Norway) and two minnows. For quite some time now, certain Norwegian protagonists have sought to effectively transform the EEA into a bilateral agreement with the EU. This attitude has led to political implications that have affected the author himself. The independence of the EFTA Court is also endangered by the fact that it operates alongside a large sister court, the Court of Justice of the European Union. And yet the EFTA Court has established its own line of jurisprudence and its own judicial style. It has remained faithful to specific EFTA values, such as the belief in free trade and open markets, efficiency, and a modern view of mankind. During the first 24 years of its existence, it has even had an over-proportionate influence on ECJ case law. Since EEA Single Market law is economic law, the importance of economics, an often-overlooked aspect, is also addressed. In closing, the book explores Switzerland's complicated relationship with, and Britain's impending departure from, the EU. In this regard, it argues that the EFTA pillar should be expanded into a second European structure under British leadership and with Swiss participation.

This book explores questions of transnational private legal theory in the context of the external dimension of EU private law. The interaction between existing theories of transnational ordering and the external reach of European Regulatory Private Law is articulated through the examination of what are found to be the three major proxies of transnational private ordering: private standards, contracts and codes. Chapters survey the absence of jurisdictional restrictions in the transnational space and how the EU is arguably shaping transnational private governance to pursue regulatory aims. These regulatory endeavours span not only institutional structures and substantive rules but also the values that inform them. Leading contributors provide insights into a broad range of transnational governance considerations, from the standardization of the internet and contracts in energy exchanges to private food safety standards. The Role of the EU in Transnational Legal Ordering will be of interest to students and scholars working in the areas of EU law, regulatory law, international law, transnational governance, and private law. EU law practitioners and policy-makers will also find the analysis of key elements of EU regulation beneficial. Contributors include: C. Busch, M. Cantero Gamito, L. de Almeida, T. Juutilainen, A. Marcacci, M. Mataija, H.-W. Micklitz, M. Paz de la C. de los Mozos, K. Pijl, G. Spindler, R. Vallejo, R. van Gestel, P. van Lochem, P. Verbruggen, B. Warwas

This book explores how State capitalism affects and reshapes international investment law. It sheds new light on the various ways States actively influence business and commercial activity globally by using sovereign investors such as state-owned enterprises and sovereign wealth funds or pension funds. With a diverse group of contributors from a broad range of countries, the book offers a fresh and timely look into the fundamentals of State capitalism, focusing in particular on its actors and processes, the contextual elements that surround it, and the new political economy that comes with it. The book is essential reading for researchers, regulators, policy makers, and practitioners interested in the different ways State capitalism challenges and changes international investment law. As geopolitical considerations increasingly affect global economic activity, delving into the intricacies of State capitalism has never been more timely.

With the conclusion of the Uruguay Round Agreement on Agriculture in 1994, agriculture has for the first time been integrated into world trade rules and disciplines. WTO Members have made a commitment to continue the reform process initiated during the Uruguay Round by starting new WTO negotiations on agriculture by the year 2000. This book combines academic analysis with practical expertise to discuss, in an accessible and systematic way, some of the principal aspects of these agricultural negotiations, and aims to make recommendations for viable and successful negotiating positions in the new WTO talks on agricultural trade. Several expert articles outline the historical and political background of previous negotiations and policy developments in agricultural trade. Others provide an overview of the key issues for the new round of negotiations.

This textbook analyses from an economic perspective the phenomena of public law, the constitution, the democratic and political process, federalism, NGOs, administration and state decisions. It also examines selected fields of administrative law, including finance and tax law, public economic law and environmental law. Although the book uses examples from different legal orders, it maintains a focus on continental European law, as it aims to advance the law and economics approach in Europe.

This book looks at regulation, policy and implementation of framework agreements, supplier lists and other similar public procurement tools, with a strategic and pragmatic perspective. Whilst procurements of huge volumes and value are performed worldwide through such tools on a daily basis, and despite their complexity and diversity, this topic has rarely been studied in a systematic way. The book fills this major gap. It examines a series of public procurement systems or legal instruments selected to ensure wide coverage – the UNCITRAL Model Law on Public Procurement, the World Bank, the US federal procurement system, EU law, France, Romania, and the UK pre- and post-Brexit. By deconstructing over 20 ‘clusters’ of tools into their key features along a pattern for analysis, the book reconstructs a conceptual framework for purchasing uncertain or indefinite requirements through a transversal perspective across public procurement systems. In this way, the book provides valuable orientation to law and policy makers for improving or reforming this area, to procurement officers in interpreting existing regulation and identifying innovative practical solutions, and to lawyers and the judiciary for a balanced application of the regulation. The book delivers essential material for procurement of uncertain or indefinite requirements.

This book demonstrates how human rights obligations of the EU foreign constitution can be operationalized in the realm of international economic regulation. The content is divided into three major parts. The first outlines the legal foundations needed for the EU to become a shaper of international investment law, which include the general principles and objectives of EU external policies, the Charter of Fundamental Rights, international human rights and the international investment competences of the EU. The second part demonstrates the current international investment regime's incompatibility with human rights interests, while the third analyzes two mechanisms stemming from trade Law - ex-ante human rights impact assessments and civil society monitoring bodies - and explores whether they could mitigate the current inequalities in the protection of rights. The potential of these mechanisms, the book argues, lies in their capacity to ensure a comprehensive assessment of all interests at stake, and to empower traditionally marginalized rights-holders to make, shape and contest the international investment regime.

This book is a primer on economics of competition law by a Commissioner based on cases of the Competition Commission of India (CCI). It presents economic theories in lucid ways while providing an in depth economic analysis of the cases dealt by CCI and in the process, it blends the diversity of responses by including the orders upheld by majority and minority. In essence. It is a unique work that addresses the gap between competition law and economics.

This book is a unique compilation of comprehensive works covering the potentials, challenges, and realities of geographical indications from an Indian perspective. The book encompasses critical studies on legal, regulatory, and institutional frameworks and debates surrounding geographical indications. The concept of geographical indication has not received paramount importance in India compared to the other forms of intellectual property rights like patents and trademarks, while GI is becoming critical in national and international discourses. It aims at presenting both national and international situations and discussions, which will appeal to readers worldwide. This book in its first part elaborately deals with the genesis of the GI Act, and then it goes on to analyze both substantive as well as procedural aspects of the registration under the Indian GI Act and tries to identify the discrepancy and gaps in the laws. Also, a comparative perspective has been built by analyzing the GI laws and regulations of some developed countries with that of India. The challenges in existing regulation for quality control and enforcement of GI products in the Indian GI Act have been dealt comprehensively by the authors which are critical in achieving the stated objectives of the Act. The book also focuses on the role of geographical indication in the socio-economic development of rural India. The authors have illustrated how the GI can act as an effective mechanism for employment generation and sustainable growth opportunities in different sectors like agriculture, food, and handicraft. The interaction of GI with traditional knowledge and biodiversity and their impact on society is also extensively covered. The book contains real-life case studies by the authors from different states of India highlighting the success stories and missed opportunities of different GIs and the way forward where the GI can function as an effective tool for the overall development of a country and promote international trade. The book will provide law students, scholars from legal and IP disciplines, legal practitioners, producers, and policymakers a factual and multidimensional insight into the GI system in India. This will further promote research in this area, particularly from an Asian perspective and enhance the real-life application of GI to varied products.

Weapons of mass destruction (WMD) are not necessarily acquired as entire systems. They are often assembled from parts and materials, many of which are dual-use - i.e., of both commercial and military utility. Often, suppliers of these components do not ask who their customers are or inquire about the intended application. This has for a long time been the Achilles' heel of well-intentioned nonproliferation conventions. The answer lies in more stringent export controls of weapons-related technologies. In this eye-opening collection of essays, sponsored by the Center for International Trade and Security at the University of Georgia (USA), a group of outstanding experts in the nonproliferation field report on the efforts of five leading supplier countries - the United States, France, Russia, China, and India - to implement export controls on weapons and sensitive technologies used for producing WMD. The book is both reassuring and alarming in its very precise survey and analysis of export control regimes. At most national levels, regulation is rapidly making firms more accountable, and more industries are routinely implementing internal compliance programs. However, these advances are in a neck-to-neck race with intangible methods of transferring information, corporations with no national allegiance, and competition among international suppliers. Based on in-depth research - each of the contributors spent considerable time conducting interviews with government officials and other policy experts, observing policy making and implementation, and gathering empirical data - this detailed and thought-provoking book will be of great value to all concerned with security objectives for the twenty-first century.

The Asian-Pacific countries as well as India and Russia offer multinational companies all the benefits of booming economies in a world of recession. However, the investor must be aware of the tax regime under which he will operate. This survey presents the rates, definitions of taxable income and the incentives available in a complete, yet concise form. It goes on to review tax minimisation strategies and concludes with a comparison of the overall tax burdens for investors in each country derived from the Devereux/Griffith formulae - a methodology well known within the EU, but applied to this region for the first time.

This unique book brings together leading experts from diverse areas of public international law to offer a comprehensive overview of the approaches to evolutionary interpretation in different international legal regimes. It begins by asking what interpretation is, offering the views of expert authors on the question, its components and definitions. It then comments on situations that have called for evolutionary interpretation in different international legal regimes, including general international law, environmental law, human rights law, EU law, investment law, international trade law, and how domestic courts have, on occasions, interpreted treaties and other international legal instruments in an evolutionary manner. This timely, authoritative compendium offers an in-depth understanding of the processes at work in evolutionary interpretation as well as a prime selection of the current trends and future challenges.

This book is the final study report of the key project of the National Social Science Foundation of China, "China and the Reconstruction and Innovation of International Rules in the New Era of Global Value Chain". On the basis of a comprehensive analysis of the complex situation of international rule reconstruction and innovation in the new era of the global value chain, this book makes an in-depth and systematic analysis on six types of international rules, namely official export credit rules, international competition rules, cross-border e-commerce and digital trade rules, ISDS, multilateral agreement on investment and international regulatory cooperation. It also introduces the theories and practices of China's engagement in the new round of reconstruction and innovation of international rules.

Classical liberalism has typically sought to maintain as much room as possible for the exercise of personal initiative in the face of the encroachment of states. This book explores these questions of coercion and authority in the context of the size and scope of the state and argues that the state and its agents should be held to the same moral rules as are the individuals it rules over. The book considers how a distinct feature of the state is its police or coercive power, about which one may ask how the state acquires it and what if anything would justify its use. It considers the implication that there is nothing inherent about state agents that entitles one to behave in ways that we would not accept from a private actor, and how once that argument is made, the state's claim to authority is weakened. The author also discusses the extent to which democracy has been thought to provide any sort of justification for coercion or authority. This book will be of interest to academics and students of political philosophy, especially classical liberalism, and legal philosophy.

This book addresses the regulation of the State/Enterprise relationship in the framework of international economic context. It analyzes this relationship from the discrete perspectives of conflict, cooperation, and integration in contributions by authors representing a diverse range of legal cultures and political backgrounds. The topic is investigated following three approaches: * State versus Enterprise (the State which bans, restricts, or regulates the activities of Enterprises, both domestic and foreign);* Enterprise versus State (the Enterprises, main actors of commercial, industrial or financial initiatives, which may directly or indirectly affect the legal and economic structure of the State);* State as Enterprise and Enterprise as State (public Enterprises under political control that pursue geopolitical goals, and Enterprises that rely on the political, financial, and strategic support of the State for their business expansion). Furthermore, the volume includes a special focus on the relationship State/Enterprise in non-capitalist economies (China, Russia, and Cuba).

This book adopts an international perspective to examine how the online sale of insurance challenges the insurance regulation and the insurance contract, with a focus on insurance sales, consumer protection, cyber risks and privacy, as well as dispute resolution. Today insurers, policyholders, intermediaries and regulators interact in an increasingly online world with profound implications for what has up to now been a traditionally operating industry. While the growing threats to consumer and business data from cyber attacks constitute major sources of risk for insurers, at the same time cyber insurance has become the fastest growing commercial insurance product in many jurisdictions. Scholars and practitioners from Europe, the United States and Asia review these topics from the viewpoints of insurers, policyholders and insurance intermediaries. In some cases, existing insurance regulations appear readily adaptable to the online world, such as prohibitions on deceptive marketing of insurance products and unfair commercial practices, which can be applied to advertising through social media, such as Facebook and Twitter, as well as to traditional written material. In other areas, current regulatory and business practices are proving to be inadequate to the task and new ones are emerging. For example, the insurance industry and insurance supervisors are exploring how to review, utilize, profit from and regulate the explosive growth of data mining and predictive analytics ("big data"), which threaten long-standing privacy protection and insurance risk classification laws. This book's ambitious international scope matches its topics. The online insurance market is cross-territorial and cross-jurisdictional with insurers often operating internationally and as part of larger financial-services holding companies. The authors' exploration of these issues from the vantage points of some of the world's largest insurance markets - the U.S., Europe and Japan - provides a comparative framework, which is necessary for the understanding of online insurance.

Doing International Business? Here are the Tools! Power Tools for Negotiating International Deals is a nuts and bolts guide. This book is the handbook read before the negotiation. It is also to be used during the negotiation when a decision to stand firm or compromise must be made. Power Tools for Negotiating International Deals shows how international business works, where to stake high ground, what concessions to make, and what mistakes to avoid.Filled with checklists and case examples, these are the power tools needed for negotiating business deals in the global marketplace. When negotiating an international deal, there is often only one good opportunity to strike the bargain and make the deal. To do so, a businessperson needs tools to know what to ask for, what to counter with, and what to offer up as a reasonable compromise. That is how deals get done. Without knowing the terms that would make the best international deal, the deal may still get done - it just will not be the best that could have been negotiated.Power Tools for Negotiating International Deals explains the key issues that need to be negotiated in an international business deal, be it a product sale, agency/brokerage, consulting agreement, distributorship, license, joint venture or consortium. Some of the topics covered in this book:A* the basics of international business dealsA* negotiating international sales of goods and servicesA* negotiating international agency and consulting dealsA* negotiating international distribution dealsA* negotiating international license dealsA* negotiating international joint venture and consortium dealsJames M. Klotz is one of Canada's leading international business lawyers. In addition to cochairing the International Business Transactions group of one of Canada's largest law firms, he has written several books and treatises on international business law and negotiation. He has taught courses in international business law at Osgoode Hall Law School, Toronto, and in international risk assessment at the University of Toronto, School of Continuing Studies. When not flying around the world on deals, he lives and works in Toronto.