As we move further into the 21st century, it is incumbent upon lawyers and law students to understand and manage the complexities of sustainable development. International Development Law: Rule of Law, Human Rights, and Global Finance offers a coherent and systematic overview of the many issues and underlying trends that affect 'international development law' and the underlying legal architecture between developing countries and advanced nations. Professor Sarkar describes how international development works, its shortcomings, its theoretical and practical foundations, along with the prescriptions for the future. The text is structured into two basic parts: the first part deals with the theoretical and philosophic foundations of the subject, and the second part sets forth issues relating to the international financial architecture, namely, international borrowing practices, privatization, and emerging economies. International Development Law provides the reader with new perspectives on the origins of global poverty, identifies legal impediments to sustainable economic growth, and provides a better understanding of the challenges faced by the international community in resolving global policy issues.

Professor Fischer presents a comprehensive overview of global trade at the start of a new century, from a national, regional, and international viewpoint. He looks closely at the four dominant and competing economic systems--the United States, the European Union, Japan, and China--and argues that the traditional we-win/you-lose national trade paradigm has been replaced by one that is more collaborative, one that is leaning toward de facto world governance. He compares foreigners' attitudes toward trade and markets with our own, using four economic models that typify world trade today. He examines the interface between national, regional, and international trading systems and between business and government, then at the prospect of global trade management in different trade sectors under the GATT/WTO and other organizations. The result is a provocative discussion of global trade today.

Professor Fischer makes it clear that the United States needs allies. Though its influence in the world trade arena will continue, America's hegemony has ended. The European Union is America's most obvious ally, but it has many problems and ambitions of its own. The North American Free Trade Agreement has solidified the North American market but it may isolate and lose South America, while Japan, China, Russia, and others are left to develop alliances of their own. All these factors raise important global questions, among them: Can American capitalism prevail? Should the United States proceed unilaterally, as it has so often? Or are regional and multinational arrangements preferable? If there is further globalization, as seems inevitable, and if American influence is on the wane, what group or organization will lead? To explore these questions and provide the beginnings of answers, Professor Fischer uses his four competing economic systems and handicaps the process country by country, sector by sector, with particular attention to transatlantic relations.

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 volume examines the property transformations in post-communist Central Eastern Europe (CEE) and focuses on the role of restitution and privatisation in such transformations. It argues that the theorisation of 'restitution' in post-communist CEE is incomplete in the transitional justice scholarship and in the literature on correction of historical wrongs. The book also argues that, for a more complete theorisation of (post-communist) restitution, the transformations of property in post-communist societies ought to be studied in a more holistic way. The main legal vehicles used for such transformations, privatisation and restitution, should not be studied separately and in abstract, but in their reciprocal relationship, and in connection to the dimension of justice which each could achieve. Finally, the book integrates 'privatisation' in a theory of post-communist transformation of property.

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

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.

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 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.

'Governance' describes the legal framework for international managers and supervisory board members in 23 countries. This comprises legal duties in terms of decision-making, corporate crisis, accounting, mergers and acquisitions, as well as equity and debt raisings.

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.

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.

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.

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 unique work examines the highly topical national and international legal issues of economic cooperation between North and South Korea under the current divided situation. In recent years, the relationship between the two Koreas has been generating more concern than in earlier times. This new interest has been followed by two epoch-making developments over the past decade: the conclusion of the Basic Agreement of 1991 and the Declaration of the North-South Summit of 2000. These events have caused remarkable changes in political, as well as economic, relations between the north and the south.
This book reviews the current legal regime and the setting up of a positive legal framework for inter-Korean economic cooperation, beginning to be regulated by international law. This research provides two ultimate outcomes. One is to resolve the legal problems for transnational economic cooperation relating to North and South Korea; the other is to develop a juridical model of south-north cooperation as a new world economic framework for the 21st century.
Three interrelated areas are involved in this work. The first part describes the external environmental factors regarding inter-Korean economic cooperation from an international legal perspective. The second part deals with the legal framework of inter-Korean economic cooperation, examining concrete issues arising from practical economic exchanges and cooperation between the two Koreas. The last part discusses the legal foundations for inter-Korean economic integration beyond economic cooperation.
This book clarifies the significance of the legal environment as an indispensable servant for the parts of a divided country to recovertheir relationship, offering both a normative and practical framework.

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.

'In the galaxy of issues that developing countries are faced with in their international economic relations, this publication manages to focus on some critical areas of particular concern to developing countries. Moreover, the issues focussed on have a contemporary relevance touching as they do on financial reform, aid and IMF conditionality, international trade and investment, multinational corporations, competition, corruption, the environment and intellectual property issues. This is a comprehensive appraisal of development related problems in international economic relations written by practitioners and academics in the field.' - Asif Qureshi, University of Manchester, UK International Economic Law, Globalization and Developing Countries explores the impact of globalization on the international legal system, with a special focus on the implications for developing countries. The onset of the current process of globalization has brought about momentous changes to the rules and processes of international law. This comprehensive book examines a number of these changes, including the radical expansion of international economic law, the increase in the power of international economic organizations, and the new informal approaches to law-making. The greater reliance on judicial and arbitral mechanisms, and the proliferation of international human rights instruments, many of which have a direct bearing on international economic relations, are also discussed. The contributors to this book are all prominent experts in the fields of international law and international political economy, drawn from both developing and developed countries. This insightful book will appeal to scholars and advanced students with an interest in international law, development studies, international political economy and international governance. It will also be an indispensable tool for practitioners - including members of leading international NGOs, international lawyers, political scientists and international development specialists. Contributors: Y. Akyuz, D. Bradlow, E.R. Carrasco, P. Cullet, K.E. Davis, J. Faundez, M.E. Footer, J. Harrison, F. Macmillan, K. McMahon, P. Muchlinski, T. Novitz, P. Roffe, D. Salter, C. Tan, V.P.B. Yu III

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.

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.

The major themes of financial regulation in the U.S., the EEC, and Japan are discussed in four interwoven, but independent, essays. The central focus is the protection of the financial system by insuring prudential rules against systemic risks, particularly through promoting capital adequacy by international and national agreement and with due consideration to the distinction between the banking and securities business. The work concludes with the assertion that international harmonization of regulation is necessary for the long-run efficiency of financial markets.

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.

This book focuses on the influence of food safety and quality requirements on international trade in food. Drawing on the case of Benin and other fishery products exporting countries in West and East Africa, the book explores the consequences of EU requirements on market access and food safety regulation in exporting developing countries. Moreover, it examines the processes through which UEMOA Member States intend to overcome their food safety challenges thanks to regional cooperation. In this regard, the book dwells on the conditions and mechanisms of regulatory convergence within the UEMOA.In addition to exploring the differences in approaches to food safety regulation (proactive or reactive approaches) between the EU and most West African developing countries, the book further analyses the case of Benin shrimp exports to the EU in the light of the rules of the World Trade Organization (WTO). Essentially, the book assesses whether WTO rules provide sufficient leverage to enable weaker countries to press for reforms in other WTO Members' food safety laws so as to avoid protectionism and unnecessary obstacles to trade.

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

This book places international trade law within an economic,political and sociological context, contending that globalisation is characterised by both homogeneity and diversity. However, while implying changes within contracting parties, globalisation only results in a 'thin' homogeneity. Furthermore, globalisation is the result of the interaction, negotiations and policies between states. From this perspective, the book attempts to explain trade policy as resulting from domestic factors. Thus, if globalisation is characterised by diversity, how do such differences affect the trade policy of states in an era where nearly everything is subject to commerce? The book focuses on the US and the EC, analysing different institutional and substantive aspects of unfair trade instruments, such as anti-dumping and countervailing measures and market access instruments. Domestically, it focuses on both constitutional and socio-economic constraints. The book considers political action prescribed by formal constitutions in a wider socio-economic context, rejecting the a-historical and structurally blind normative idea of free trade.

This book is the first book-length analysis of investor accountability under general and customary international law, international human rights law, international environmental law, international humanitarian law, as well as international investment law. International investment law is currently facing growing criticisms for its failure to address corruption, abuse, environmental damage, and other forms of investor misconduct. Reform initiatives range from the rejection of international law as a governing regime for investors, to the dramatic overhaul of investment treaties that supposedly enable investor overprotection, to the creation of a multilateral international instrument that would enable the litigation of claims against errant businesses before an international tribunal. Whether these initiatives succeed in disciplining investors remains to be seen. What these initiatives undeniably show however, is that change is warranted to counteract this lopsided investors' international law. Each chapter in the book addresses a different and underexplored dimension of investor accountability, thus offering a novel and consolidated study of international law. The book will be of immense assistance to legal practitioners, academics and policy makers involved in the design, drafting, application and reform of various international instruments addressing investor accountability.

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.