Foreign investments in the energy sector raise formidable legal questions, often requiring a delicate balance between private and public interests of the various stakeholders. Foreign Investment in the Energy Sector: Balancing Private and Public Interests opens with a discussion of the legal protection of foreign investment in the main segments of the energy sector (namely oil, gas, mining and hydroelectric industry), both in substantive and procedural terms. This second part of the book focuses on the Energy Charter Treaty, by far the most important international legal instrument in the energy sector, and its future after the decision of the Russian Federation not to ratify it. In its third part, the book examines four critical areas that are often negatively concerned by economic activities by multinational in the energy sector, namely compliance with safety and labour standards, protection of the environment, respect of indigenous peoples rights, and protection of public health. Foreign Investment in the Energy Sector: Balancing Private and Public Interests, a comprehensive collection of essays from experts and practitioners, offers an important new resource to the field.

The present work examines the economics and legal doctrine of private equity. After a consideration of private equity's origins, the book will explore the evolution of private equity in the United States and Europe. The reference economic model then will be reconstructed, with particular attention to financial flows to and from private equity firms and funds. This reconstruction will be instrumental for the subsequent analysis of remunerative policies and practices of private equity firms and the illustration of recommendations to improve them, especially following the subprime mortgage crisis of 2008. The book concludes with critical points for operators, legislators, and regulatory authorities in the light of the results of the economic analysis of private equity and of comparative regulatory analysis.

The unfair trade practice of dumping has been regulated for many years. Dumping distorts competition by selling exports at exceedingly low prices in foreign markets. Over the years, anti-dumping measures designed to counter dumping through the imposition of duties have become the most effective and popular way employed to protect domestic industries under threat.
The 1980s, however, ushered in a counter measure: circumvention. As a means of avoiding anti-dumping duties, circumvention threatens the effectiveness of the anti-dumping system by undermining the protection provided for domestic industries. In response, anti-circumvention measures have been designed and implemented to combat those activities. This is the first book to offer a detailed analysis of this significant issue in anti-dumping practice.
Among the issues and topics addressed:
- What is the definition of 'circumvention' in anti-dumping law? What are the characteristics and types of circumvention? Should circumvention in anti-dumping practice be distinguished as an acceptable or unacceptable transaction? If so, what is the line between them?
- What are anti-circumvention measures in major jurisdictions? Are these anti-circumvention measures compatible with the current WTO rules? Can these anti-circumvention measures be seen as an abuse of trade protectionism? In domestic anti-circumvention legislation, how can one keep a balance between adopting anti-dumping measures effectively and protecting the interests of all participants in the game through anti-circumvention measures?
- What are the different arguments of the parties who are involved in an anti-circumvention investigation? What are the factsbehind those arguments?
- Should developing countries amend anti-circumvention provisions to their anti-dumping legislation for the purpose of protection as some developed countries did?
- What is the relationship between anti-circumvention measures and foreign direct investment?
- What steps should be taken against the abuse of anti-circumvention measures? What anti-circumvention measures should be designed in the context of the international legal framework so as not to conflict with the principles of the WTO? And how should they be implemented?

Against the backdrop of enormous technological strides, this book argues that the air transport industry must be constantly vigilant in its efforts to employ a legal regime that is applicable to the aeronautical and human aspects of the carriage by air of persons and goods. In this regard, safety and security are of the utmost importance, both in terms of safe air navigation and the preservation of human life. Although the International Civil Aviation Organization (ICAO) addresses legal issues through its Legal Committee, many emerging issues that urgently require attention lie outside the Committee's purview. This book analyzes in detail the items being considered by ICAO's Legal Committee, considers the legal nature of ICAO, and discusses whether or not ICAO's scope should be extended. Since the limited issues currently addressed by ICAO do not reflect the rapidly changing realities of air transport, the book also covers a broad range of key issues outside the parameters set by ICAO, such as: the need to teach air law to a new generation of aviation professionals; combating cyber-crime and cyber-terrorism; the regulation of artificial intelligence; traveller identification; interference with air navigation; human trafficking; unruly passengers; climate change; air carrier liability for passenger death or injury; Remotely Piloted Aircraft Systems (drones); and the cabin crew and their legal implications.

Volume 10 of the EYIEL focusses on the relationship between transnational labour law and international economic law on the occasion of the 100th anniversary of the International Labour Organisation (ILO). As one of the oldest UN Agencies, the ILO has achieved considerable progress with respect to labour rights and conditions. The contributions to EYIEL Volume 10 assess these achievements in light of current and future challenges. The ILO's core instruments and legal documents are analysed and similarly the impact labour standards have on trade and investment agreements. In its regional section, EYIEL 10 addresses recent developments in the US and the EU, including the US' trade policy strategy towards China as well as the reform of the NAFTA. In its part on institutions, EYIEL 10 focusses inter alia on the role of the rule of law in relation to current practices of the International Monetary Fund and of the WTO's Appellate Body as an international court. Furthermore, it provides an overview of current cases before the WTO. Finally, the volume entails a section with review essays on recently published books in the field of international economic law and international investment law.

The perceived impact of WTO law on the domestic regulatory autonomy of WTO Members is increasingly becoming the subject of controversy and debate. This book brings together in an integrated analytical framework the main WTO parameters defining the interface between the WTO and domestic legal orders, and examines how WTO adjudicators, i.e. panels and the Appellate Body, have construed those rules. A critical analysis identifies the flaws or weaknesses of these quasi-judicial solutions and their potential consequences for Members' regulatory autonomy. In an attempt to identify a more proper balance between WTO law and regulatory autonomy, it develops an innovative interpretation of the National Treatment obligations in GATT and GATS, drawing upon compelling arguments from legal, logic and economic theory.

This greatly revised edition of an influential 1999 book consolidates its authoritative advocacy of the New Lex Mercatoria (NLM). Since the publication of the first edition, self-regulation and private governance in international business have gained world-wide recognition. Three dynamic commercial law initiatives in particular demonstrate that, in spite of the long-lasting dispute about the nature and dogmatic underpinnings of NLM, legal theory and international practice have accepted that transnational business law is open to the 'codification' of its contents. The UNIDROIT Principles of International Commercial Contracts, the Principles of European Contract Law, and (most recently and dramatically) the TransLex Principles at www.trans-lex.org all draw their legal conclusions from observing the real-life phenomena surrounding regional and global integration of markets and foreign direct investment. This new edition presents an advanced elaboration of the author's 'Creeping Codification' thesis based on the TransLex Principles, an Internet-based method using an ongoing, spontaneous, and dynamic codification process which is never completed. The TransLex Principles contain black-letter texts of 128 principles and rules of the NLM with comprehensive, constantly updated comparative law references from domestic statutes, court decisions, doctrine, arbitral awards, and uniform laws. An annex to this book contains a synopsis of the wealth of materials available on the TransLex web site as well as a rare personal account of one of the fathersA"of the NLM, Philippe Kahn. International legal practitioners and academics alike have long complained about the inadequate legal framework for international trade and commerce. This book, with its far-reaching theoretical and methodological analysis of the doctrine of an autonomous transnational economic law, clearly opens the way to an independent and workable third legal system alongside domestic law and public international law. It offers international practitioners (contract negotiators, arbitrators, attorneys and other representatives of the parties in international arbitration proceedings) with a powerful and reliable instrument to apply transnational commercial law in daily legal practice.

The first volume in the Silk Road Studies in International Economic Law Series, China and International Investment Law: Twenty Years of ICSID Membership examines cutting-edge issues of international investment law and arbitration in interaction with China, the second largest economy of the world. With particular attention to ongoing major negotiations of bilateral and regional investment treaties, including the TPP, TTIP and China's BIT negotiations with the EU and USA, the collection is timely, thorough, and incisive. All readers with an interest in the latest developments in international investment law in general, and the Chinese foreign investment regime in particular, will find an indispensable new resource in this collection of essays from esteemed experts in the field. The volume originated from the "China and ICSID" International Workshop and Roundtable on International Investment Law and Arbitration, organized to commemorate the 20th anniversary of China's accession to the ICSID Convention.

A New Global Economic Order: New Challenges to International Trade Law examines the dislocating effects of the policies implemented by the Trump Administration on the global economic order and brings together leading scholars and practitioners of international economic law come together to defend multilateralism against unilateralism and populism.

This book provides a broad understanding of whether law plays a role in influencing patterns of sustainable consumption and, if so, how. Bringing together legal scholars from the Global South and the Global North, it examines these questions in the context of national, transnational and international law, within single and plural legal systems, and across a range of sector-specific issue areas. The chapters identify how traditional legal disciplines (e.g. constitutional law, consumer law, public procurement, international public law), sector-related regulation (e.g. energy, water, waste), and legal rules in specific areas (e.g. eco-labelling and packing) engage with the concept of sustainable consumption. A number of the contributions describe this relationship by isolating a national legal system, while others approach it from the vantage point of legal pluralism, exploring the conflicts and convergences of rules between multiple international treaties (or guidelines) and those between the rules of international and transnational law (or both) vis-a-vis national legal systems. While sustainable consumption is recognised as an important field of interdisciplinary research linking virtually all social science disciplines, legal scholarship, in contrast, has neglected the importance of the field of sustainable consumption to the law. This book fills the gap.

The book reflects on the issues concerning, on the one hand, the difficulty in feeding an ever- increasing world population and, on the other hand, the need to build new productive systems able to protect the planet from overexploitation. The concept of "food diversity" is a synthesis of diversities: biodiversity of ecological sources of food supply; socio-territorial diversity; and cultural diversity of food traditions. In keeping with this transdisciplinary perspective, the book collects a large number of contributions that examine, firstly the relationships between agrobiodiversity, rural sustainable systems and food diversity; and secondly, the issues concerning typicality (food specialties/food identities), rural development and territorial communities. Lastly, it explores legal questions concerning the regulations aiming to protect both the food diversity and the right to food, in the light of the political, economic and social implications related to the problem of feeding the world population, while at the same time respecting local communities' rights, especially in the developing countries. The book collects the works of legal scholars, agroecologists, historians and sociologists from around the globe.

In the last two decades, multinational companies (MNCs) and global union federations (GUFs) have started to negotiate so-called global framework agreements (GFAs) which define minimum standards for labor conditions across their locations. This book focuses on the question why companies conclude GFAs, and identifies four groups of incentives: reduction and privatization of conflicts; public relations; promotion of equal competitive conditions; exogenous requirements and avoidance of public regulation. Based on an in-depth analysis of incentives considered to play a dominant role in the decision of companies to conclude GFAs, the book attempts to predict under which conditions GFAs can be expected to proliferate in the future.

Much has been written on the human rights relevance and impacts of the policies and activities of the World Bank and IMF --or International Financial Institutions (IFIs). However while many of the human rights-based critiques of the Bank and Fund purport to link broadly defined reforms with obligations under international human rights law,rarely has this been carried out through a rigorous and in-depth application of international legal rules governing the proper interpretation of the institutions' mandates, and rarely have the policy consequences and practical possibilities for human rights integration been explored in any detail. These are the principal gaps that the present book aims to fill, by reference to a sample of the IFIs' most important and controversial contemporary activities.

From modest beginnings in the early 1990's, a reform movement in the regulation of public procurement has mushroomed into a global imperative. Two fundamental values of international free trade policy--value for money and the deterrence of corruption--have brought intense scrutiny to bear on public procurement practices in nearly every country. Now international standards (notably those of the WTO and the EU) must be met if a trading nation is to take its place in the global markets. This collection of essays offers fifteen distinct views on the current status and trends in public procurement and its various aspects. From general discussion of setup, overcoming obstacles, ensuring transparency, and compliance with international rules to specific issues raised in economies as diverse as Kosovo, China, and the United States, "Public Procurement: The Continuing Revolution provides a great wealth of insight and information. Although the emphasis throughout is on legal issues, the contributors include not only lawyers but also economists and specialists in purchasing practice. In addition, this is the first book to note the relatively recent trend, in developed countries, toward a less prescriptive, more flexible approach to regulation in which a degree of transparency is sacrificed. The question of how this trend will affect international procurement regimes is perhaps the most viral and interesting aspect of current theory and practice in the field. "Public Procurement: The Continuing Revolution is of inestimable value not only to public procurement specialists, whatever their profession, but to a much wider audience who will recognise the decisive influence of this important economicactivity on the entire area embracing trade and even international relations. Most of these essays were originally presented as papers at an international conference hosted by the Public Procurement Research Group at the University of Nottingham in September 2001.

This book integrates important milestone cases with new analyses to provide comprehensive coverage of environmental law and economics. It covers important international topics, including interactions of global environmental features and public/private health, economics of the institutions for optimal environmental management, extension of the Polluter Pays Principle to the global arena (including international trade), improved approach to the usage of cost-benefit analysis methods, economic or environmental decision-making under risk aversion and uncertainty, integration of operations in world trade and finance with the ecology and economics of the environment, objective treatment of methods of compliance, and dispute settlement procedures in the international environmental disputes arena.

This book analyzes how today's system of international trade law and international economic relations has evolved over the last six decades. Focusing on the major innovations that came with the inception of the World Trade Organization (WTO) with its various agreements in 1994, it also provides in-depth commentary on the intense debate over important matters that remain unsettled. Topics covered include the WTO dispute settlement mechanism; the General Agreement on Trade in Services (OATS); the Agreement on Trade-Related Investment Measures (TRIMS); intellectual property rights - the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS); areas still covered by the General Agreement on Tariffs and Trade (GATT) 1947; the Most Favoured Nation (MFN) concept; special provisions relating to agriculture and textiles; sanitary and phytosanitary measures; technical barriers to trade; pre-shipment inspection; and import licensing procedures. The book would be an excellent resource for scholars as well as practitioners working in the field of international arbitration and trade laws.

This book examines the intersection of WTO trade liberalisation rules and domestic health protection, a subject that is of considerable interest to those concerned that the WTO impinges on national regulatory autonomy. In analysing the tension between health protection and trade liberalisation, the book focuses on the way in which this tension is (or is not) resolved through the dispute resolution process. It offers a detailed analysis of the relevant WTO rules and case law, identifying particular concerns relating to the ability of WTO Members to take protective action in circumstances of scientific uncertainty and the role of social and cultural factors in the making of health-related regulations. The nature of scientific evidence and the extent to which the scientific process internalises uncertainty is further explored, drawing on documentation relating to the theory and conduct of scientific risk assessment. Despite the popularity of the precautionary principle in some quarters, it is suggested that it may not be advisable for the WTO to adopt that principle. Rather, further attention should be paid to the role that the standard of review might play in easing the tensions that arise when a sovereign state's health regulations are reviewed by the WTO. The origins of the WTO's 'objective assessment' standard of review are explained, but the standard itself is criticised. Options for developing the standard of review are considered, with a 'reasonable regulator' standard based on the Asbestos case proposed. The book takes a comparative approach, drawing on ECJ cases reviewing Member State and Community health measures as well as US judicial review and commerce clause cases.

This book explores the transnational legal infrastructure for dispute resolution in transnational securities transactions. It discusses the role of law and dispute resolution in securities transactions, the types of disputes arising from them, and the institutional and legal aspects of dispute resolution, both generally and regarding aggregate litigation. It illustrates different dispute resolution systems and aggregate litigation methods, and examines the legal issues of dispute resolution arising from transnational securities transactions. In addition, the book proposes two systems of dispute resolution for transnational securities transactions depending on the type of dispute: collective redress through arbitration and a network of alternative dispute resolution systems.

This book provides a detailed examination of the issue of conformity of goods and documents under the United Nations Convention on Contracts for the International Sale of Goods 1980 (CISG). This issue lies at the heart of sales law and is one of the most frequently litigated. The book explores: the Convention's requirements as to quality, quantity, description and packaging of the goods (conformity); the requirements flowing from the need for the goods to be free from rights or claims of third parties; and the questions of what documents the seller must deliver to the buyer and what constitutes a 'good' document under the CISG. The book engages extensively with a substantial body of cases decided under the CISG and academic commentary. It systematises the Convention's experience to date with a view to turning it into an integrated, comprehensive and distinctive CISG legal regime on conformity of goods and documents. The analysis is comparative and draws on the experience of some major domestic legal systems, such as English and US law. The focus is both analytical and practical. The book will be of interest to legal practitioners, academic lawyers and students with an interest in international and comparative sales, commercial and contract law.

In the World Trade Organization regime, government procurement is largely excluded from the multilateral agreements. The "plurilateral" WTO Agreement on Government Procurement, with its challenging accession procedures and limited number of signatories, cannot be said to succeed in its efforts to liberalize this area of trade activity - more than 10 per cent of gross domestic product in most countries. This study investigates the special sensitivities of government procurement that have left major trade barriers intact despite the WTO mandate that has proven so effective in other areas. Professor Arrowsmith examines the following crucial factors in depth: why and how procurement practices create barriers to trade; the institutional structure for dealing with government procurement in the GATT/WTO system; the impact of relevant WTO law on national legal systems; the types of contracts and entities covered in the Agreement on Government Procurement; how the National Treatment principle and the Most Favored Nation obligation affect government procurement; rules of WTO contract award procedure and the controversy over their interpretation and revision; the free trade versus social and environmental issues question in the context of government procurement; and the monitoring and enforcement of WTO procurement rules. Throughout the presentation the author focuses on specific issues to illuminate the overall pattern of her legal analysis. For example, practical questions stemming from such activities as multi-phase tendering and electronic procurement are raised for special scrutiny. The legal literature of the WTO and its jurisprudence are frequently brought into Professor Arrowsmith's arguments.

Each year a growing number of complex and distinctive cases are filed in diverse forums which specialize in international investment arbitration. Until now, however, no single manual has guided practitioners through the many complexities involved in international investment arbitration proceedings - from whether and how to initiate arbitral proceedings to the enforcement of the award and available post-award remedies. Litigating International Investment Disputes: A Practitioner's Guide fills this lacuna by serving as a comprehensive resource for those who are new to international investment arbitration, as well as for the seasoned practitioners. The diverse group of contributors are highly experienced experts and practitioners, who have acted as counsel and arbitrators, and served in institutions which routinely administer international investment arbitration proceedings.

The TRIPS Agreement (Agreement on Trade-Related Aspects of Intellectual Property Rights), signed on April 15, 1994, introduced intellectual property protection into the World Trade Organization's multilateral trading system for the first time, and it remains the most comprehensive international agreement on intellectual property to date. A Neofederalist Vision of TRIPS by Graeme B. Dinwoodie and Rochelle C. Dreyfuss examines its interpretation, its impact on the creative environment, and its effect on national and international lawmaking. It propounds a vision of TRIPS as creating a neofederalist regime, one that will ensure the resilience of the international intellectual property system in time of rapid change. In this vision, WTO members retain considerable flexibility to tailor intellectual property law to their national priorities and to experiment with changes necessary to meet new technological and social challenges, but agree to operate within an international framework. This framework, while less powerful than the central administration of a federal government, comprises a series of substantive and procedural commitments that promote the coordination of both the present intellectual property system as well as future international intellectual property lawmaking. Part I demonstrates the centrality of state autonomy throughout the history of international negotiations over intellectual property. Part II, which looks at the present, analyzes the decisions of the WTO in intellectual property cases. It concludes that the WTO has been inattentive to the benefits of promoting cultural diversity, the values inherent in intellectual property, the rich fabric of its law and lore, the necessary balance between producers and users of knowledge goods, and the relationship between the law and the technological environment in which it must operate. Looking to the future, Part III develops a framework for integrating the increasingly fragmented international system and proposes the recognition of an international intellectual property acquis, a set of longstanding principles that have informed, and should continue to inform intellectual property lawmaking. The acquis would include both express and latent components of the international regime, put access-regarding guarantees such as user rights on a par with proprietary interests and enshrine the fundamental importance of national autonomy in the international system.

The obligations of international trade law hinge upon the question of what constitutes 'like products'. Trade disputes will often involve an examination of whether the products in question are in competition with one another. The most common term used for this test is to ask whether they are 'like products' - that is to ask whether products are sufficiently similar for consumers to see them as substitutable - and thus whether they are subject to the rules of the WTO and GATT. This book seeks to develop consistent principles and an effective definition for this central issue of world trade law.

The rapid development of the Internet has led to a growing potential for electronic trade in digital content like movies, music and software. As a result, there is a need for a global trade framework applicable to such digitally-delivered content products. Yet, digital trade is currently not explicitly recognised by the trade rules and obligations of the World Trade Organization (WTO). This study provides a complete analysis of the related challenges in the ongoing WTO Doha Negotiations to remedy this state of affairs. It elaborates on the required measures in the multilateral negotiations to achieve market access for digital content and examines the obstacles that lie on the path to reach consensus between the United States and the European Communities. Negotiation parameters analysed include the current US and EC regulatory approach to audiovisual and information society services and the evolution of their applicable trade policy jurisdiction. Finally, this examination takes stock of how the Doha Negotiations and parallel US-driven preferential trade agreement have so far contributed to securing free trade in digital content. As new technologies are an increasingly prominent source of trade dispute, this book is an assessment of how WTO Members can maintain the relevance of the multilateral trade framework in a changing technological and economic environment. "This important work highlights the missed opportunity in on-going global trade talks -- the failure to pursue a free trade framework for digitally delivered content. If not corrected, one can readily imagine the rise of discriminatory barriers to digital trade of the type that have dogged global trade flows for years, and a failed recognition by the WTO of the reality of modern commerce. The WTO should, as the author argues, put a "spotlight" on electronic trade, and move forward in a comprehensive fashion." Ambassador Charlene Barshefsky, Former United States Trade Representative "Wunsch-Vincent provides a comprehensive analysis of the challenges to establish a liberal trade regime for trade in digital products. This book will become an important point-of-reference for anybody interested in e-commerce and the WTO." Carlos A. Primo Braga, Senior Adviser, International Trade Department, The World Bank

With the WTO TRIPS-Agreement, intellectual property issues have become an integral part of the world trading system. The Agreement probably represents the most significant and controversial development in world trade law. The Agreement is comprehensive in scope and contains standards for protection of a number of intellectual property rights as well as rules on the enforcement of such rights. Furthermore it closely links to the well-established traditional international system of the protection of intellectual property rights - the World Intellectual Property Rights Organization and related agreements, in particular the Paris and Berne Convention and the Madrid Agreement. This commentary covers the entire TRIPS-Agreement. It adopts a comparative perspective in highlighting related and similar provisions and developments in other international and regional instruments, such as the ones mentioned above and, for instance the European Patent Convention. The volume is based on a close cooperation between the Intellectual Property Law Center of the University of Dusseldorf and the Goettingen Institute for International Law and European Law, which aims at bringing together expertise in intellectual property law and and general international law and trade law. It is designed to meet the needs both of the WTO and the intellectual property community.