This book is a survey of the rules and regulations relating to state aid in the European Union and their role in the overall competition policy of the EU. It examines the implications and provisions of articles 92 and 93 and covers the substantive law as well as the procedural questions. The rules on state aid have been adopted in the EEA Agreement and the association agreements between the EU and the Countries of Central and Eastern Europe and have been incorporated in the WTO Agreement on subsidies and equalization measures, all despite severe criticism. This work aims to provide a useful introduction to practitioners and academics who may have limited experience in dealing with matters of state aid.

This is the first publication of AIJA's Antitrust Sub-Commission of the International Business Law Standing Commission. The book is the result of the reports from 20 different jurisdictions for the working session organized by the Antitrust Sub-Commission during the Annual Congress of AIJA in Sydney in September 1998. The reports were based upon a questionnaire prepared by the General Reporter and Editor and generally reflect legislation up until January 1999. The purpose of this book is to discuss the critical issues in applying antitrust laws to the media sector, having in mind three main issues, namely deregulation and convergence in the media industry worldwide, the effect of antitrust laws on the new media environment, and the balance between sector-specific regulation and antitrust rules.

Drafted in plain language, the International Trade Terms (Intraterms) are a set of standard terms for the sale of goods. They are divided into five chapters dealing with contracts in general, international sale of goods, transportation of sold goods, abbreviated terms, and resolution of disputes. In

The essays in this third volume of "Developments in European Company Law" are concerned with conflicts of interest and duty in company law. The first part provides a legal analysis of the duties of company directors, of their accountability and of the trustee's perspective. A second part provides a socio-legal analysis and a third part an economic analysis. The essays provide important contributions to law reform and scholarly debate of these pressing issues of company law. The contributors include leading judges with an interest in the field and academics from the UK and Australia.

There is an on-going - and often heated - debate in developing countries on whether the WTO requirements for trade liberalization serve the interests of these nations. Accordingly, the importance of the instruments used to regulate trade, such as antidumping laws, are exceedingly important. This timely work aims to examine the use of antidumping laws as 'temporary adjustment' safety valves. That is, domestic industries suddenly exposed to international competition require measures to help them cope with the new market conditions. The book is divided into six chapters: the introductory chapter initially examines the definition of dumping and antidumping. It then evaluates antidumping regulation both at the national and WTO level. The second chapter reviews current WTO antidumping law. The third and fourth chapters look at the antidumping experience of two developing countries: Egypt and India. The fifth chapter examines how current competition law deals with the practice of dumping. Accordingly, the price discrimination and predatory pricing law of both major competition law jurisdictions, the US and EU, are examined. This chapter aims to answer the question of whether competition law in its current form can replace antidumping law. The work's final chapter looks at economies of scale as barriers to effective competition.

Disputes arising from foreign investment activities are on the increase, and with them a growing awareness among practitioners of a greater variety of settlement methods than most legal analyses have dealt with heretofore. With the experience gained in recent years from a broad spectrum of successful negotiation, arbitration, and litigation techniques, it is possible to derive a comprehensive, critical survey of the principal methods of settling foreign investment disputes. This book provides such a survey. The subject is treated systematically, dealing first with the internal balances within modern foreign investment contracts, the complexities that arise due to state participation or interference in these contracts, and the stances that are taken when disputes arise. It goes on to examine, in turn, the main issues involved in negotiation, arbitration, and judicial settlement as the methods of settling foreign investment disputes, discussing the controversial themes in each of these methods in detail. Recognizing that the focus of attention is shifting to the misconduct of multinational corporations, the last chapter contains a discussion of the role of domestic courts.

The fight between North and South over intellectual property (IP) reached new heights in the 1990s. In one corner, large multinational companies and developed countries sought to protect their investments. Opposing them, developing countries argued for the time and scope to pursue development strategies unshackled by rules forged to bolster the competitiveness of richer countries. The result was the WTO's deeply contested Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Widely resented by developing countries, TRIPS nonetheless permits them some hard-won flexibility. Puzzling, however, is why some developing countries have used that flexibility and others have not. Even more curious is that many of the poorest countries have made least use of the room for manouevre, despite securing some extra concessions. For developing countries, TRIPS did not end the pro-IP offensive. At the urging of industry lobbyists, powerful countries backtracked on the flexibilities in TRIPS and pursued even stronger global IP rules. To prevent precedents for weaker IP standards in poorer countries, they issued threats to market access, aid, investment, and political alliances. Further, they used new trade deals and, more subtly, capacity building (assisted by the World Intellectual Property Organization, among others) to leverage faster compliance and higher standards than TRIPS requires. Meanwhile, 'pro-development' advocates from civil society, other UN agencies, and developing countries worked to counter 'compliance-plus' pressures and defend the use of TRIPS flexibilities, sometimes with success. Within developing countries, most governments had little experience of IP laws and deferred TRIPS implementation to IP offices cut-off from trade politics and national policymaking, making them more vulnerable to the TRIPS-plus agenda. In many of the poorest African countries, regional IP arrangements magnified this effect. For scholars of international political economy and law, this book is the first detailed exploration of the links between global IP politics and the implementation of IP reforms. It exposes how power politics occur not just within global trade talks but afterwards when countries implement agreements. The Implementation Game will be of interest to all those engaged in debates on the global governance of trade and IP

This incisive book provides a comprehensive overview of the WTO dispute settlement practice from 1995 up until the present day, illustrating the need for it to be resurrected from its current state of crisis. By inquiring into the current set-up of WTO adjudication system, the book explores to what extent its original intent has been followed in practice. Its empirical analysis of decades of data regarding the number, duration, and subject matter of dispute adjudications, as well as the frequency of implemented or non-implemented settlements, illuminates the effectiveness of the system and highlights the issues that have led to the WTO's present predicament. Petros C. Mavroidis employs these findings to build a case for the urgent reform of the WTO dispute settlement system by virtue of its accomplishments. He then concludes with a proposal for a reinvigorated "Dispute Settlement Understanding 2.0". The WTO Dispute Settlement System will prove an essential read for students and scholars of WTO law, as well as lawyers, political scientists and policy-oriented economists interested in the WTO dispute settlement system. Its accessible evaluation of the rationale and practice of key provisions of the adjudication regime will also be of benefit to practicing attorneys.

The fourth volume of this Yearbook provides essays, articles, comments and analyses of developments throughout the previous year. The new essay section of this volume is contributed by Shangquan Gao, Senior Professor in the State Council of PRC who examines the negative influence of the Asian financial crisis on China. Professor Eva Holz, Deputy Governor at Uruguayan Central Bank, Dr Michael Gruson, Senior Banking Partner at Shearman & Sterling, and Professor Geoffrey Wood of City University are some of the contributors of major articles in the edition. One of the salient features of the volume is that it focuses on new developments in post-financial crisis restructuring measures taken by various countries, such as PRC, Brazil and Japan. Complementary to this issue, globalization, international financial stability, and international capital flows are also discussed comprehensively. The period covered by the volume has witnessed major financial and economic law reform projects in various areas of the world. The volume offers comprehensive analysis of these reforms including the Gramm-Leach-Bliley Act of 1999 in the US and its influence on the global financial sector, progress in collateral law reform in Central and Eastern Europe, the development of securities law and the Internet in the UK, commercialization of China's land use right, reform of Hong Kong property tax system, and legal changes in Japanese asset securitisation and investment. Some issues are re-explored in this volume from new and different perspectives. The discussion of the integration of insurance and other financial services in Taiwan, of the Lender of Last Resort, of the solutions to the non-performing loan problems in China, of capital adequacy under the Basle new capital adequacy framework, and sovereign debt restructuring in Latin America will offer the readers new insights into these issues. This volume should appeal to anyone with an interest in international financial and economic law throughout the world. Its broad geographic scope and the expertise of the contributors offer an indispensable chance for the readers to keep abreast with developments in a rapidly changing area of the law.

The 2005 Special Issue of the "Comparative Law Yearbook of International Business" addresses issues relating to security in immovables. Each Chapter contains an overview of the security in immovables laws of a particular country. The laws vary widely among the countries; the word immovable (or real property in Common Law jurisdictions) even has different definitions in different countries. Crossborder transactions involving immovables are integral to international business dealings. This publication provides a general overview of the methods by which immovables are secured in various countries, and each chapter contains details such as the priority granted creditors and openness of the land registers. Each chapter contains a country-specific explanation of the method by which one obtains a mortgage, lien, or similar security, and an exploration of the possible problems that might arise during Such a process. In addition, special attention is given to the obstacles facing non-nationals interested in buying immovables. The book evidences the varied attitudes at governments towards the purchase of immovables by non-nationals. In some countries, such as The Philippines, non-nationals are prohibited from buying land. Other countries, such as the Slovak Republic, allow foreign acquisition of nearly any immovable, only forbidding purchase of items that no private citizen can own, such as the country's rivers. This publication reflects recent developments in security in immovables, especially in Eastern Europe. The chapter on immovables in Ukraine is based on the country's new property laws, passed in 2004. The chapters on the Czech Republic, the Slovak Republic and Hungary all reflect the changes brought by accession to the European Union. The acquisition of property in a foreign country is an integral facet of international business and practitioners will find this publication's in-depth instructions for the purchase of security in immovables useful as it pertains to individual countries. In addition to showing practitioners how transactions work for individual countries, readers will be able to compare diverse legal regimes to find the one most favorable for their particular business transactions.

In its ten years of existence, the World Trade Organization (WTO) dispute settlement system has continued to differentiate itself in many ways from more conventional international judicial proceedings such as those before the International Court of Justice (ICJ) or regional integration courts. The regular participation of third parties, the emphasis at all levels of the ordinary meaning of the text of WTO rules, and the raft of proposed amendments to the Dispute Settlement Understanding (DSU) all characterize WTO jurisprudence. In twenty-six incisive contributions, this book covers both the legislative and (quasi) judicial activities encompassed by the WTO dispute settlement system. Essays concerned with rules emphasize proposed improvements and clarifications in such areas as special and differential treatment of less-developed countries, surveillance of implementation, compensation, and suspension of concessions. Other contributions discuss such jurisprudential and practical issues as discrimination, trade-related environmental measures, subsides and countervailing measures, and trade-related intellectual property rights. The authors refer frequently to the panel, Appellate Body and arbitration reports, a chronological list of which appears as an annex. The contributors include WTO arbitrators, members of the WTO Appellate Body, WTO panelists, and academics from a broad spectrum of countries engaged as legal advisers by the WTO, by governments, or by non-governmental organizations. More than a mere snapshot of the current status of the WTO dispute settlement system, this outstanding work represents a comprehensive analysis that brings a fast-moving and crucially significant body ofinternational law into sharp focus.

There are many indications that the 20th century will be the "Asian century" with several countries there approaching rapid and sustained economic development to be fuelled by neighbouring investor countries. This book provides a manual for investors interested in setting up joint ventures in the Far East and presents the legal nuts and bolts of that process with respect to Japan, South Korea, Taiwan, China, Indonesia, the Philippines and Thailand. A final item argues for alternatives to traditional dispute resolution methods, and should assist drafters of such contracts. Matters addressed systematically are: the selection of a joint venture vehicle, control of a joint venture company, tax incentives, acquisition of real property, government authorizations, legal procedures for termination and legal status of dispute resolution methods. This book presents the work of the International Bar Associations's Committee on Business Organizationa, convened in Hong Kong in 1991.

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.

In the field of international tax law, only a handful of scholars have had what it takes to actually affect policy. In recent decades, Sven-Olof Lodin is clearly among that distinct group. The influence of his work in the academic and business worlds has echoed far beyond his native Sweden (where he is honoured as one of the principal architects of the major tax reform of 1990) to the global context, where his great contribution has been signally recognized by his election in 1998 as the first Nordic president of the International Fiscal Association. He was a founding member of the Nordic Tax Research Council, which has done so much to ensure co-operation in tax matters between the Nordic countries. As a delegate of the Federation of Swedish Industries, he has participated in working groups at the European level and presented models of corporate taxation that are visible in EU tax policy. His colleagues and friends respect him not only for his achievements but also for the strong of justice that characterizes his radical proposals for reorientation of the tax system. In this festschrift, 25 tax law scholars from all over the world confront some of the problems that have preoccupied Lodin - cross-border income flows, tax treaties versus national codes, EC law versus national law, VAT, e-commerce income, and much more.

International Trade Law Canada and the United States signed the Automotive Products Trade Agreement (Auto Pact) in 1965, thus resolving a competitive crisis in Canada's auto industry and extending that industry's vitality for another 35 years - until a decision of the World Trade Organization (WTO) in February 2000 determined that the Pact violated international trading rules. Following an unsuccessful appeal by Canada to the WTO's Appellate Body, the pact formally came to an end in February 2001. For policymakers and scholars concerned with international trade, the story of the Pact presents a fascinating case in its own right. The great value of this remarkable book, however, is its elucidation of the main issue underlying the Pact and its forced ending: the relationship between international trade rules on the one hand and investment measures intended to encourage local economic activity on the other. In this connection the Canadian auto industry - centered in Windsor, Ontario, directly across the river from Detroit, the heart of the industry in the U.S. - offers an intensely concentrated sample of the triple nexus of investment, labour and trade that lies at the core of economic development worldwide. Sixteen expert authors, both practitioners and academics, here open perspectives on this nexus that are of profound significance for the future of international trade. These encompass such matters as the following: the vulnerabilities of a local community dependent on trade and open borders; labour union tensions engendered by trade rule "levelling" that takes little or no account of national or local economic realities; implications for developing countries of the WTO finding that a production-to-sales ratio is a prohibited export subsidy; the impact of Mexico's role under NAFTA on the Canadian auto industry; national and local regulation of government subsidies intended to attract investment; ongoing multinational efforts to create a multilateral regime to protect and regulate foreign direct investment; and the persistent failure of the WTO to reach a consensus on labour standards despite the clear provisions of major international law instruments. All these issues and more are brought into sharp focus by the history of the Auto Pact and the implications of its demise. For this reason, this collection of insightful essays will be of incomparable value to professionals in every area of international trade. The Auto Pact: Investment, Labour and the WTO was produced with the support of the Canadian-American Research Centre for Law and Policy at the Faculty of Law, University of Windsor.

According to the WTO, over a fifth of world trade consists of transactions in services. The General Agreement on Trade in Services (GATS) was created to extend the multilateral trading system to services, in the same way the General Agreement on Tariffs and Trade (GATT) provides such a system for trade in goods. Given its reach, the treaty's significance continues to grow. This academically rigorous yet highly accessible book guides the reader through an ocean of literature and interpretative possibilities embodied in GATS. In doing so, it provides a road map of the various interpretative possibilities and dilemmas posed by the treaty. The work advances a legal analysis of GATS, based on its historical and institutional roots, while at the same time taking into account its objectives and prospects, as well as the balance of interests involved. In total, this timely book presents a thorough legal analysis of GATS that will serve as a comprehensive yet highly useful guide to the agreement.

This "Liber Amicorum" celebrates the 60th birthday of Thomas Bar and Robert Karrer, who set up their international law practice more than 28 years ago. Contributions in the book are from practitioners and scholars in the field of international law. The "Liber Amicorum comprises 16 articles on topics ranging from business law to arbitration and from a global perspective.

Often, the success of court actions depends upon the effectiveness of provisional remedies, conservatory measures or summary judgments taken before or in lieu of the main proceedings. A good decision, obtained after years of effort, is of no use if it cannot be enforced because the debtor's assets have disappeared. This text provides a guide through the web of preliminary actions that can be taken in order to ensure the successful seizing of assets. This practical guide answers questions such as: what is a Mareva Injunction and how can it be used effectively?; what is a refere, in France, Belgium and several other countries, and how can it save the plaintiff years of litigation?; and how can assets be seized in Hong Kong on the basis of a German judgment concerning an Australian living in Turkey? Within each country, each topic is clarified using a comprehensive example, which allows the reader to see the theory in action. "Summary Proceedings" covers the following countries: Australia, Austria, Belgium, Brazil, Cameroon, Canada, Finland, France, Germany, Great Britain, Greece, The Netherlands, Hong Kong, Ireland, Israel, Italy, Korea, Luxembourg, Portugal, Sweden, Switzerland, Tunisia, Turkey and the USA.

Is a State free to adopt measures to protect the public health of its citizens? If so, what are the limits, if any, to such regulatory powers? This book addresses these questions by focusing on the clash between the regulatory autonomy of the state and international investment governance. As a wide variety of state regulations allegedly aimed at protecting public health may interfere with foreign investments, a tension exists between the public health policies of the host state and investment treaty provisions. Under most investment treaties, States have waived their sovereign immunity, and have agreed to give arbitrators a comprehensive jurisdiction over what are essentially regulatory disputes. Some scholars and practitioners have expressed concern regarding the magnitude of decision-making power allocated to investment treaty tribunals. This book contributes to the current understanding of international investment law and arbitration, addressing the fundamental question of whether public health has and/or should have any relevance in contemporary international investment law and policy. With a focus on the 'clash of cultures' between international investment law and public health, the author critically analyses the emerging case law of investment treaty arbitration and considers the theoretical interplay between public health and investor rights in international investment law. The book also explores the interplay between investment law and public health in practice, focusing on specific sectors such as pharmaceutical patents, tobacco regulation and environmental health. It then goes on to analyze the available means for promoting consideration of public health in international investment law and suggests new methods and approaches to better reconcile public health and investor rights.

This new edition of International Trade Law Statutes and Conventions presents all the key legislation for International Trade Law in one student-friendly volume. Developed in response to feedback from lecturers and students, this book is: Up-to-date with the law: this book provides a fully current and comprehensive collection of legislation Tailored Content: content has been curated to align with international trade law courses Exam Friendly: conforming to regulations, this is an un-annotated text that is suitable for exam use Easy to Use Format: a clear and attractive text design, detailed table of contents and multiple indices provides ease of reference and navigation With easily accessible coverage of course-relevant material, International Trade Law Statutes and Conventions is ideal for course and exam use, as well as for reference. This book is a perfect companion resource to student learning and exam success.

This introductory textbook explores the key legal principles and institutions that underpin the global economy. Featuring discussion of the economic rationale and social impact of the various legal regimes, Professor David Collins explores the four main pillars in international economic law: international trade, international investment, monetary relations, and development. This concise textbook offers a comprehensive and accessible overview of the international legal frameworks and organizations that govern the economic relations among and between states and multinational enterprises. Collins highlights the leading cases of international tribunals and the most pressing debates, drawing attention to the role of law in balancing the goal of economic liberalization with important public interest values and the tension between sovereignty and commitment to international rules. This textbook outlines the historic rationales and contemporary roles of prominent international organizations, such as WTO, IMF and the World Bank, exploring the ways in which the global economy of the twenty-first century has been cultivated by a distinct and dynamic discipline within international law. Key features include: Further reading lists for each topic, pointing students towards useful sources for more in-depth study Provocative and challenging discussion questions to further critical thinking either in or outside of the classroom Diagrams aiding learning by presenting essential concepts in a clear, visual format. Foundations of International Economic Law is an essential guide for undergraduate and graduate students of international economic law.

On the 25th anniversary of the establishment of the Hong Kong Special Administrative Region of the People's Republic of China, this book presents the first monographic study of the Hong Kong Basic Law as an economic document. The Basic Law codifies what Gonzalo Villalta Puig and Eric C Ip call free market constitutionalism, the logic of Hong Kong's economic liberty as the freest market economy in the world. This book, which is the outcome of several years of study with the financial support of the General Research Fund of Hong Kong's Research Grants Council, evaluates the public choice rationale of the Basic Law and its projection on the Hong Kong economy, with a focus on the policy development of economic liberty both internally and externally. In the academic tradition of James M Buchanan's constitutional political economy, the book opens with a conceptualisation of free market constitutionalism in Hong Kong. It studies the origins of this concept in the 19th-century classically liberal common law and how it developed into a Hayekian laissez-faire convention under British colonial rule, was codified into the Basic Law and is interpreted and applied by the branches of the Government of the Region. The book closes with remarks on the future of Hong Kong's free market constitutionalism in face of recent challenges as the year 2047 approaches and the 50 years of 'unchanged' capitalist system under the Basic Law come to an end. This book will appeal to students, scholars and practitioners of law, economics, political science and public administration. It will especially appeal to those with an interest in Hong Kong law, international economic law or comparative constitutional law.

The fairness of institutions of global economic governance ranks among the most pressing issues of our time. Most approaches to understanding the complex structure of treaties and intergovernmental organizations such as the WTO tend to uncritically accept an economic focus, highlighting gains from trade and the merits of progressive trade and investment liberalization. While the economic arguments are compelling, other ways of thinking about the roles of these institutions have received less attention. The Research Handbook fills this gap by offering a substantial interdisciplinary examination of the normative and policy underpinnings of the international economic order.The book includes specially commissioned chapters based on theories of justice, human rights, and critical legal studies, as well as on economics and the internal structure of international economic law itself, all written by leading scholars in their respective fields. The contributors offer an interdisciplinary approach to understanding the relationship between international economic law and policy and the rights and welfare of peoples across the globe. The end result is an essential point of reference for developing a comprehensive toolkit for evaluating the institutions of global economic governance. Containing extensive and significant interdisciplinary coverage of key areas of research on international economic law and policy, this Research Handbook will appeal to political scientists, philosophers, legal scholars, economists and international relations theorists. Contributors: G. Brock, B.S. Chimni, L.V. Ciko, P. Clements, C.M. Correa, F.J. Garcia, B. He, C.L. Lim, J. Linarelli, S.M. Lundan, A. Maneschi, H. Murphy, E.-U. Petersmann

The Domestic Politics of International Trade considers the issues surrounding intellectual property rights in international trade negotiations in order to examine the challenges posed to domestic policy-makers by the increasingly broad nature of Free Trade Agreements (FTAs). Throughout the book the author demonstrates the importance of domestic politics in understanding the nature and outcome of international negotiations, particularly as they relate to international economic diplomacy. The book looks in detail at the intellectual property negotiations which formed part of the US-Peru and US-Colombia Free Trade Agreements and analyses the extent to which public health authorities and other parties affected by the increased levels of intellectual property protection were integrated into the negotiation process. The book then juxtaposes these findings with an analysis of the domestic origins of US negotiation objectives in the field of intellectual property, paying particular attention to the role of the private sector in the development of these objectives. Based on a substantial amount of empirical research, including approximately 100 interviews with negotiators, capital based policy-makers, private sector representatives, and civil society organisations in Lima, Bogota and Washington, DC, this book offers a rare account of different stakeholders' perceptions of the FTA negotiation process. Ultimately, the book succeeds in integrating the study of domestic politics with that of international negotiations. This book will be of particular interest to academics as well as practitioners and students in the fields of international law, economic law, intellectual property, political economy, international relations, comparative politics and government.

This work on the law of subsidies has been long-awaited by many actors in international trade. With its introduction of the concept of "attenuation" of entitlement, Marc Benitah's analysis alters the understanding of the international economic law of subsidies and its future invocation and jurisprudence. The issue of subsidies is a predominant theme in international economic law, and a consistent approach to the legal treatment of subsidies is urgently needed. In Professor Benitah's view, the answer lies in the recognition that entitlements granted to a party seeking to defend itself against the "adverse effects" of subsidies must be "attenuated" in order to avoid undesirable economic and social consequences. In the various techniques of attenuation - thoroughly described and analyzed in this book - may be found the unifying thread on which a logical, coherent law of subsidies may be strung.