The enormous economic power of the People's Republic of China makes it one of the most important actors in the international system. Since China's accession to the World Trade Organization in 2001, all fields of international economic law have been impacted by greater Chinese participation. Now, just over one decade later, the question remains as to whether China's unique characteristics make its engagement fundamentally different from that of other players. In this volume, well-known scholars from outside China consider the country's approach to international economic law. In addition to the usual foci of trade and investment, the authors also consider monetary law, finance, competition law, and intellectual property. What emerges is a rare portrait of China's strategy across the full spectrum of international economic activity.

The book analyzes the most relevant developments in the relation between contracts and technology, from automatically concluded contracts to today's revolutionary "smart contracts" developed through blockchain, which are beginning to and will increasingly disrupt many economic and social relations. First of all, the author offers a broad analysis of the peculiarities and evolution of the relation between contracts and technology. The main features and elements of electronic contracts are then examined in depth to highlight the specific rules applicable to them in the international comparative legal framework. In turn, the book provides a detailed explanation of the technology, economic and social dynamics, and legal issues concerning blockchain and smart contracts. The analysis focuses on the question of the legal nature of smart contracts, the issues posed by their development and the first legal solutions adopted in some countries. The comparative approach pursued makes it possible to focus attention on the first solutions adopted until now in various systems, with particular regard to the circulation of models and ideas and to the specificities of their local variations, in terms of e.g. applicable law and jurisdiction. In reviewing the characteristics of distributed ledger technologies, and in particular of the blockchain technology on which smart contracts are based, above all the peculiarities of the latter are taken into consideration, especially automatic execution and resistance to tampering, which simultaneously present significant opportunities and complex legal issues. A comprehensive framework is then provided to reconcile smart contracts with comparative contract law, in order to define the scope and specificities of their binding force, legal effectiveness and regulation in various legal systems. Lastly, with specific reference to the elements, pathologies and contractual remedies for smart contracts, the book examines the peculiarities of their application and the main issues that emerge in comparative contract law in order to promote their harmonized use, in keeping with the transnational nature of such a revolutionary tool.

This work consists of a selection of key papers presented at the first Anglo-Japanese Comparative Law Conference, held at Jesus College, Cambridge in September 1996. The conference was organized under the auspices of the Institute of Advanced Legal Studies, University of London; the University of Tsukuba, Japan; and Murdoch University in Australia. The conference brought together a number of leading business lawyers from around the world, who discussed the impact of globalization on commercial law. If the internalization of trade and business has produced problems for lawyers, the impact of globalization, particularly in such areas as the capital markets, has proved to be even more problematic. The implications for all those who operate in the commercial and financial sectors, and for those who advise them, of developments in the nature and character of the markets are increasingly significant. The publication should be of interest to academics, those involved in trans-national business, and legal practitioners.

This book analyses the adequacy of Mongolia's legal system for foreign investment protection by conducting a multi-level assessment of international investment treaties, domestic legislation of the host State, and investor-State contracts from an international comparative perspective. The investigation distinguishes between three legal dimensions, each of which offers both substantive legal guarantees for the protection of investments in the host State and provisions for the settlement of investment disputes by arbitration. In the first dimension of Public International Law (PIL), Mongolia is bound by international investment treaties, which offer investors an international law setting. In the second dimension, a special domestic investment law defines the domestic framework for the establishment, promotion and protection of investments, but also for the conclusion of investor-State contracts. These contracts in turn open a third legal dimension, which represents a cross-section through the PIL and domestic-law dimensions of investment protection. Following the development of a multi-level system with legal dimensions that are not isolated but rather interrelated and mutually reinforcing, the book examines whether Mongolia's international investment treaties and domestic investment law reflect globally shared international and domestic standards of treatment and protection of foreign investments. Lastly, the author inquires whether the domestic laws applicable to investor-State contracts in Mongolia allow investors and the Mongolian Government to agree on protective terms according to the (not uncontroversial) standards of international contract practice.

This book argues that the European integration process (Europeanisation) is pushing the member states and candidate countries toward a greater convergence with the EU's competition acquis. Through the transposition of the Directive 2014/104/EU, the member states have harmonised substantive and procedural rules, which is beneficial to individuals and enterprises because it provides a minimum protection across all member states. In addition, it is commonly agreed in academia that the prospect of EU membership brings positive domestic changes in the candidate countries. At the moment, Albania is waiting to open negotiations for the chapters of the EU acquis. Firstly, this book addresses the evolution of private enforcement at the European level by examining the objectives, modalities, and actors that contributed to the development of private enforcement. Secondly, it analyses the Directive 2014/104/EU and how the three selected EU member states have transposed the directive into their domestic legal system considering the discretion margin left by Article 288 TFEU and a minimum harmonisation level defined in the directive. Thirdly, it provides a historical overview of private enforcement in Albania and shows how the Albanian Competition Authority has addressed the transposition of the Directive 2014/104/EU.

Eurasian Economic Integration has arrived at just the right time. The Asia-Europe economic region is undergoing major changes. With the strengthening of the Chinese economy and the crisis with the euro, the economic balance is shifting. Meanwhile, questions about the future of the economies in the post-Soviet region are arising. The new order now being attempted under Russia's leadership could take on considerably more significance. Kataryna Wolczuk and Rilka Dragneva have brought together a first-class team of experts who are investigating these developments. As a result, we now have a study describing the Eurasian structures currently taking shape and their consequences for the countries involved, the WTO and neighbouring countries in the East and West. This precise and timely study upholds high standards of scholarship and offers political actors an excellent analysis, which will enable them to adapt European policy to the processes playing out in Eurasia.' - Henning Schroeder, Stiftung Wissenschaft und Politik, Berlin, Institute for East-European Studies, Free University Berlin, Germany'This book spectacularly delivers on what it promises, providing a comprehensive, clearly structured and theoretically informed study of the latest round of integration efforts in post-Soviet Eurasia. Bringing together an impressive range of contributors, each of whom is a notable expert in their field, this will undoubtedly become a classic path-breaking study of regionalism in a part of the world that is unjustly neglected.' - Richard Sakwa, University of Kent, UK In this well-researched and detailed book, the editors provide an extensive and critical analysis of post-Soviet regional integration. After almost two decades of unfulfilled integration promises, a new - improved and functioning - regime emerged in the post-Soviet space: the Eurasian Customs Union between Russia, Belarus and Kazakhstan (ECU). The contributors seek to explain this puzzling and politically significant development by examining the ECU's origins, institutional architecture, key driving forces and emerging implications. Their investigation reveals that the ECU is an ambitious and fast moving project in deep economic integration, yet its legal design is complex and member states are driven by a precarious balance of diverse motives. Nevertheless, as the contributions to the volume indicate, the emergence of the ECU already carries important external implications, especially for the EU s strategy in the post-Soviet space. Being the first comprehensive and systematic study of the new Eurasian economic integration regime, this book will appeal to academics and students of regional integration, international relations and international law, Russian studies, Post-Soviet politics, as well as Central Asian studies. Contributors: R. Connolly, J. Cooper, L. Delcour, R. Dragneva, M. Frear, H. Haukkala, N. Kassenova, S. Malle, K. Wolczuk

This book addresses topical questions concerning the legal framework of trade in services, and assesses how these issues are dealt with in GATS and in selected preferential trade agreements. In addition, the chapters discuss whether the differences and similarities (if any) are evidence of greater coherence or greater divergence. The book combines the individual analyses to provide a more comprehensive picture of the current law on services trade liberalisation.A quarter of a century after the conclusion of the General Agreement on Trade and Services (GATS), international law on trade in services is still in a state of flux: on the one hand, countries increasingly conclude bilateral and regional trade agreements with sections on trade in services that aim at a further liberalisation of services trade. On the other, the GATS structure remains the dominant model and serves as the basis for many preferential trade agreements. In addition, new aspects such as electronic commerce, data protection and taxation are now emerging, while issues that had already manifested in the mid-1990s such as financial services regulation, labour mobility, and telecommunications continue to be problematic. Usually, the debates focus on the question of whether preferential trade agreements serve as a stepping-stone or stumbling block for trade liberalisation at the multilateral level. However, it can be assumed that rules on trade in services in preferential trade agreements will coexist with the global GATS regime for the foreseeable future. This raises the question of whether we're currently witnessing a drive towards greater coherence or more divergence in agreements on trade in services.

The 2007 - 2010 global financial crisis re-opened the debate on the reform of the international monetary and financial system. This well-argued book demonstrates the strategic role of international economic law (IEL) in ensuring international monetary stability and global financial stability. After discussing the current allocation of powers among IEL institutions, Annamaria Viterbo focuses on monetary measures: exchange restrictions, capital controls and exchange rate manipulations. These three fundamental topics are then examined through the lens of a multi-layered methodology, adopting perspectives from international monetary law, trade law and investment law. The author evaluates how the horizontal sectors in which IEL is traditionally divided interact and how conflicts between norms are avoided or solved. Particular attention is also devoted to the outcomes of trade and investment disputes that deal with monetary measures. International Economic Law and Monetary Measures will appeal to international trade law and international financial law scholars as well as law and business students. Legal practitioners and officials working in the field of international economic law will find it a useful reference, as will legal counsel in banks and financial institutions, international investors and multinational corporations. Contents: Introduction 1. International Monetary Stability and Global Financial Stability as Global Public Goods and the Role of International Economic Law 2. The Bretton Woods Institutions and their Role in the Provision of Global Public Goods: Focusing on International Monetary Stability 3. The Global Financial Architecture: Towards a Strengthened Institutional Framework for Global Financial Stability? 4. Exchange Restrictions and Capital Controls under the IMF Legal Framework 5. Exchange Restrictions and Capital Controls under the WTO Legal Framework 6. Exchange Restrictions and Capital Controls in International Investment Law 7. Exchange Rate Manipulation in International Economic Law Index

In this important new book, Giandomenico Majone examines the crucial but often overlooked distinction between the general aim of European integration and the specific method of integration employed in designing an (ill-considered) monetary union. Written with the author's customary insight and precision, this highly topical and provocative book reviews the Union's leaders' tradition of pushing through ambitious projects without considering the serious hurdles that lie in the way of their success. Regional and European integration topics are discussed, including credibility of commitments, delegation of powers, bargaining and influence activities, adverse selection and moral hazard. The author also offers a deeper examination of the specific crisis of monetary integration, arguing that it might be more effectively achieved with inter-jurisdictional competition and suggesting how integration should be managed in the globalized world.

This book presents a new framework for the 'trade and environment' debate and discusses the ways in which the EU and the WTO address this topic: positive, negative and non-integration. It analyses areas like food safety and renewable energy from the perspectives of legal and political science, and economics, and includes contributions focusing on various approaches, such as harmonisation, regulatory cooperation and judicialisation. In the 21st century, especially in our current times, where free trade and economic integration are increasingly being called into question, it is even more vital to find convincing normative answers and ways to address the very complex relationship between trade and environmental policies. Debunking some of the myths concerning positive and negative integration and the relationship between the two, this book is a valuable contribution to the debate on globalisation.

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO Members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the only authorized paginated reports in English. As such, they are an essential addition to the library of every practising and academic trade lawyer, and will be widely consulted by students taking courses in international economic or trade law. The WTO authorized printed DSR volumes commenced publication with DSR, 1996: I. Publication of the Cambridge printed edition follows the WTO website publication of all new reports, which will continue in the three working languages of English, French and Spanish. Once a report has been released on the WTO website it will be published in the next Cambridge printed volume

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO Members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the only authorized paginated reports in English. As such, they are an essential addition to the library of every practising and academic trade lawyer, and will be widely consulted by students taking courses in international economic or trade law. The WTO authorized printed DSR volumes commenced publication with DSR, 1996: I. Publication of the Cambridge printed edition follows the WTO website publication of all new reports, which will continue in the three working languages of English, French and Spanish. Once a report has been released on the WTO website it will be published in the next Cambridge printed volume

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the WTO authorized and paginated reports in English. An essential addition to the library of all practising and academic trade lawyers and needed by students worldwide taking courses in international economic or trade law. DSR 2012: IV reports on United States - Measures Concerning the Importation, Marketing and Sale of Tuna and Tuna Products (WT/DS381).

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the WTO authorized and paginated reports in English. An essential addition to the library of all practising and academic trade lawyers and needed by students worldwide taking courses in international economic or trade law. DSR 2012: VI reports on United States - Certain Country of Origin Labelling (COOL) Requirements (WT/DS384, WT/DS386).

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO Members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the only authorized paginated reports in English. As such, they are an essential addition to the library of every practising and academic trade lawyer, and will be widely consulted by students taking courses in international economic or trade law. The WTO authorized printed DSR volumes commenced publication with DSR, 1996: I. Publication of the Cambridge printed edition follows the WTO website publication of all new reports, which will continue in the three working languages of English, French and Spanish. Once a report has been released on the WTO website it will be published in the next Cambridge printed volume

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO Members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the only authorized paginated reports in English. As such, they are an essential addition to the library of every practising and academic trade lawyer, and will be widely consulted by students taking courses in international economic or trade law. The WTO authorized printed DSR volumes commenced publication with DSR, 1996: I. Publication of the Cambridge printed edition follows the WTO website publication of all new reports, which will continue in the three working languages of English, French and Spanish. Once a report has been released on the WTO website it will be published in the next Cambridge printed volume

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO Members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the only authorized paginated reports in English. As such, they are an essential addition to the library of every practising and academic trade lawyer, and will be widely consulted by students taking courses in international economic or trade law. The WTO authorized printed DSR volumes commenced publication with DSR, 1996: I. Publication of the Cambridge printed edition follows the WTO website publication of all new reports, which will continue in the three working languages of English, French and Spanish. Once a report has been released on the WTO website it will be published in the next Cambridge printed volume

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO Members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the only authorized paginated reports in English. As such, they are an essential addition to the library of every practising and academic trade lawyer, and will be widely consulted by students taking courses in international economic or trade law. The WTO authorized printed DSR volumes commenced publication with DSR, 1996: I. Publication of the Cambridge printed edition follows the WTO website publication of all new reports, which will continue in the three working languages of English, French and Spanish. Once a report has been released on the WTO website it will be published in the next Cambridge printed volume

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO Members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the only authorized paginated reports in English. As such, they are an essential addition to the library of every practising and academic trade lawyer, and will be widely consulted by students taking courses in international economic or trade law. The WTO authorized printed DSR volumes commenced publication with DSR, 1996: I. Publication of the Cambridge printed edition follows the WTO website publication of all new reports, which will continue in the three working languages of English, French and Spanish. Once a report has been released on the WTO website it will be published in the next Cambridge printed volume

The Dispute Settlement Reports of the World Trade Organization (WTO) include Panel and Appellate Body reports, as well as arbitration awards, in disputes concerning the rights and obligations of WTO Members under the provisions of the Marrakesh Agreement Establishing the World Trade Organization. These are the only authorized paginated reports in English. As such, they are an essential addition to the library of every practising and academic trade lawyer, and will be widely consulted by students taking courses in international economic or trade law. The WTO authorized printed DSR volumes commenced publication with DSR, 1996: I. Publication of the Cambridge printed edition follows the WTO website publication of all new reports, which will continue in the three working languages of English, French and Spanish. Once a report has been released on the WTO website it will be published in the next Cambridge printed volume

This book investigates patterns of fragmentation and coherence in the international regulatory architecture of public procurement. In the context of the major international instruments of procurement regulation, the book studies the achievement of social and labour policies, the most controversial and problematic instrumental uses of public procurement practices. This work offers an innovative comparative approach, discussing the ways in which the different international instruments-namely the EU Procurement Directives, the WTO Agreement on Government Procurement, the UNCITRAL Model Law and the World Bank's Procurement Framework-are able to implement labour and social purposes and, at the same time, ensure a regulatory balance with the principles of efficiency and non-discrimination. Scholarly, rigorous and timely, this will be important reading for international trade lawyers and procurement practitioners.

This book analyzes the issue of European fiscal State aid in order to provide insights into the related evolution prospects and legal problems. State aid has assumed a central position in the field of taxation, becoming the most important instrument of European legal integration, especially in the area of direct taxes. This is the result of major regulatory and interpretative development, which has altered the initial European and national balances in the face of globalization and the problems of the new economy. In this context, the scope and objectives of State aid have progressively broadened, encompassing a significant level of both positive and negative integration of European national tax systems.

“It stands alone in its field not only due to its comprehensive coverage, but also its original methodology. Although it appears to be a weighty tome, in fact, in light of its scope, it is very concise. While providing a wealth of intensely practical information, its heart is highly conceptual and very ambitious... likely to become a classic text in its field.” (American Journal of Comparative Law) Volume 3 of this new edition deals with the transnationalisation of contract law. It compares common law and civil law concepts, noting the origin of the one in commercial law and of the other in consumer law, and identifies the different attitudes to protection, risk management, and risk distribution. The volume also explores future directions in international commerce and finance, as well as the potential, effects, and challenges of e-commerce, the blockchain, and the emergence of the smart contract. The complete set in this magisterial work is made up of 6 volumes. Used independently, each volume allows the reader to delve into a particular topic. Alternatively, all volumes can be read together for a comprehensive overview of transnational comparative commercial, financial and trade law.

This book offers a multidisciplinary account of the 'rule of law' as a central pillar of the classical liberal tradition. The authors analyze the original meaning of this expression as first introduced by British jurist A. V. Dicey, before examining its subsequent elaboration by Leoni, Fuller, Hayek and Oakeshott. Addressing the main philosophical and legal aspects of the rule of law, this volume will appeal to all those engaged in law, political theory, philosophy, economics, business ethics, and public policy.