Early modern, long-distance trade was fraught with risk and uncertainty, driving merchants to seek means (that is, institutions) to reduce them. In the traditional historiography on Spanish colonial trade, the role of risk is largely ignored. Instead, the guild merchants are depicted as anti-competitive monopolists who manipulated markets and exploited colonial consumers. Jeremy Baskes argues that much of the commercial behavior interpreted by modern historians as predatory was instead designed to reduce the uncertainty and risk of Atlantic world trade.
This book discusses topics from the development and use of maritime insurance in eighteenth- century Spain to the commercial strategies of Spanish merchants; the traditionally misunderstood effects of the 1778 promulgation of "comercio libre," and the financial chaos and bankruptcies that ensued; the economic rationale for the Spanish flotillas; and the impact of war and privateering on commerce and business decisions. By elevating risk to the center of focus, this multifaceted study makes a number of revisionist contributions to the late colonial economic history of the Spanish empire.

Exploring the contentious relationship between trade and labour, this book looks at the impact of the EU's 'new generation' free trade agreements on workers. Drawing upon extensive original research, including over 200 interviews with key actors across the EU and its trading partners, it considers the effectiveness of the trade-labour linkage in an era of global value chains. The EU believes trade can work for all, claiming that labour provisions in its free trade agreements ensure that economic growth and high labour standards go hand-in-hand. Yet whether these actually make a difference to workers is strongly contested. This book explains why labour provisions have been profoundly limited in the EU's agreements with the CARIFORUM group, South Korea and Moldova. It also shows how the provisions were mismatched with the most pressing workplace concerns in the key export industries of sugar, automobiles and clothing, and how these concerns were exacerbated by the agreements' commercial provisions. This pioneering approach to studying the trade-labour linkage provides insights into key debates on the role of civil society in trade governance, the relationship between public and private labour regulation, and the progressive possibilities for trade policy in the twenty-first century. This book will appeal to research scholars, post-graduate students, trade policy practitioners, policy researchers allied to labour movements, and informed activists.

China Japan and South Korea's international relations are shaped by the fact that all three countries are significant importers of resources. This book brings together work on specific aspects of the politics of resources for each of these countries, regionally and internationally. There are some similarities in the approaches taken by all these three. For example, their development assistance shares a focus on infrastructure building and reluctance to purposefully influence domestic politics. However, there are also significant differences due in large part to the individual nature of the states as international actors. China has significant domestic supplies of resources while Japan and Korea are net importers. China's size also marks it out as different, as does its state socialist history and continuing authoritarian state. One of the key issues to understanding contemporary resource politics in Northeast Asia is that Western dominance of the world order is currently declining. In some cases Northeast Asian approaches to resources are seen as being mercantilist. In other cases Northeast Asian powers are seen as replacing Western powers in exploiting resource-rich developing countries. This book gives readers an informed view of this very important issue in contemporary international relations. This book was published as a special issue of Asian Studies Review.

Globalization or international development is more vital than ever for business survival, let alone growth. This book equips readers to optimize genuine export opportunities. It addresses the fears and risks associated with exporting and reassures readers that international growth is available to any business that conducts in-depth research, adopts the right attitude, and develops a comprehensive strategy. Readers are challenged to consider seven key business considerations facing them when seeking success in export markets: product and service adaptation, comprehensive communication, portable protected branding, high-performance tradeshows, optimized go-to-market channels, fit-for-purpose internal organization, and controlled effective cashflow. This concise book serves time-starved small to medium enterprise (SME) entrepreneurs, owners, and directors in any industry anywhere in the world who seek international or global development and those studying or teaching international business.

This book analyses the fast spread of free trade agreements (FTAs) across the globe, their content and their economic impact. In the wake of Brexit and the new protectionism of President Trump, Melchior offers a timely assessment of key issues relating to FTAs. Dividing the world into seven major regions, he analyses world trade, the globalisation of FTAs and their role within and between the regions. Using a new world trade model, he then presents new evidence on the impact of trade agreements, the value of trade, the impact of China's growth and the West's industrial decline, and the role of reciprocity in trade policy. Covering rich and poor countries, commodity exporters and all of the world's regions, he offers new and original insights about a number of pertinent issues facing today's world.

This volume contains a collection of studies examining trade-related issues negotiated in regional trade agreements (RTAs) and how RTAs are related to the WTO's rules. While previous work has focused on subsets of RTAs, these studies are based on what is probably the largest dataset used to date, and highlight key issues that have been negotiated in all RTAs notified to the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO). New rules within RTAs are compared to rules agreed upon by WTO members. The extent of their divergences and the potential implications for parties to RTAs, as well as for WTO members that are not parties to RTAs, are examined. This volume makes an important contribution to the current debate on the role of the WTO in regulating international trade and how WTO rules relate to new rules being developed by RTAs.

Offering a study of regionalism in Africa and investigating the ways in which law can be used to address the issues raised by regional processes on the continent, this book examines the African Economic Community, considering that it has been entrusted to coordinate and to harmonize policies between various Regional Economic Communities (RECs) across the continent, thereby influencing the continent's approach towards regional integration. It seeks to identify how law can be used to strengthen the African RECs while ensuring that they achieve their goal of promoting regional development across the continent. Drawing upon economic and political theories, and using a critical doctrinal analysis of legal texts and norms, the book uncovers the legal and economic underpinnings of the model of regional integration followed by the regional schemes operating under the banner of the AEC, aiming to contribute to the search for effective methods to ensure the success of these various initiatives. Proposing the concept of "Regional Developmentalism Through Law" as the most suitable conceptual framework to support the effective establishment of an African Economic Community, this book will be of interest to researchers, academics and policy makers interested in the correlation between law, regional integration and development in Africa.

This book is a political-economic analysis of China's transformation to become a global aviation power. It aims to identify the driving forces that have shaped China's ever-evolving international air transport policy direction and goals in the past four decades and further determines how and to what extent these driving forces have shaped China's considerations and strategies when executing its policy goals through bilateral air services negotiations. The findings reveal that China's international air transport policymaking has remained in the domain of the country's aviation regulator, which has enjoyed an exclusivity to exercise its power on the air transport sector. The book argues that China's international air transport policy direction is in alignment with the country's overall strategic mission and its goal is set to support the country's endeavour to realise the "China dream." It concludes that factors at all levels interact with each other with a far-reaching impact on the country's policy direction and goal setting; however, these factors are constrained by time and circumstances. The book is a must-read for a wide array of audiences, including, but not limited to, scholars and industry professionals who have an interest in China's political economy, policymaking, international trade, government behaviour, corporate political activities, air transport, aviation liberalisation, and bilateral negotiations.

This book provides a detailed analysis of the legal framework in which the energy trade between the European Union and the Russian Federation has been conducted. Using case studies of eight member states, it critically examines the EU's ability and the duty of its Member States to conduct their external energy trade in accordance with the principle of solidarity. Providing a comprehensive analysis of the principle of solidarity as provided in the acquis communautaire of the EU, the book critically analyses the legal framework pertaining to EU-Russia energy trade to ascertain whether, and to what extent, it satisfies the requirements of the rule of law.

This book examines Sino-Middle Eastern relations on a bilateral level since World War II. It highlights the depth of China's involvement in the region with each country on a five dimensional approach: energy security, trade relations, political relations, arms sales/security cooperation, and cultural relations. Regarding each of these criteria, the Middle East holds a strategic significance to China's national security, vital interests, territorial integrity, sovereignty, regime survival, and economic prosperity. China has been an integral part of the political developments on the Middle Eastern political scene. It has supported the region's quest for independence and national liberation, exchanged diplomatic recognition with the region and established political partnerships with the Middle East. Trade relations are an essential element of China's involvement in the Middle East. Their bilateral trade volume exceeds $220 billion annually, and is steadily heading toward $500 billion by the end of 2015. The Middle East supplies fifty-four percent of China's energy needs, and is expected to provide seventy percent of China's imports by 2020. Energy security has become the core of Sino-Middle Eastern relations and the main goal of its increasing involvement in the region. China has also become a main source of arms sales to the region. The Middle East influenced Chinese culture and language immensely, simultaneously, influenced by Chinese culture, traditions and customs. Apparently, the peoples of the Middle East are enthusiastic about China's role in the region. However, the American so called "pivoting out" and China's imminent "pivoting in" brings tremendous levels of anxiety in the region. A similar situation occurred a century ago, when the people of the region, the social and political movements in the Middle East, and the governments of the region, solicited and welcomed the American involvement in the region, something they deeply resent and regret. China seems to be going through the same path, and the people of the region have begun to scrutinize its presence. If Beijing continues its inconsistent policy in the region, its injudicious support to autocracies, it will defiantly mobilize popular resentment against its involvement in the Middle East. Therefore, its presence might not endure in comparison to the American, British, or French presence in the Middle East.

This book is a political-economic analysis of China's transformation to become a global aviation power. It aims to identify the driving forces that have shaped China's ever-evolving international air transport policy direction and goals in the past four decades and further determines how and to what extent these driving forces have shaped China's considerations and strategies when executing its policy goals through bilateral air services negotiations. The findings reveal that China's international air transport policymaking has remained in the domain of the country's aviation regulator, which has enjoyed an exclusivity to exercise its power on the air transport sector. The book argues that China's international air transport policy direction is in alignment with the country's overall strategic mission and its goal is set to support the country's endeavour to realise the "China dream." It concludes that factors at all levels interact with each other with a far-reaching impact on the country's policy direction and goal setting; however, these factors are constrained by time and circumstances. The book is a must-read for a wide array of audiences, including, but not limited to, scholars and industry professionals who have an interest in China's political economy, policymaking, international trade, government behaviour, corporate political activities, air transport, aviation liberalisation, and bilateral negotiations.

This book offers a critical examination of the jurisprudence of the World Trade Organization (WTO) as an emancipatory international social contract on trade. The book suggests that the WTO is an international organization built and operating on member states' attribution of authority through consent with legislative, administrative, and adjudicative functions - three functions in one triune personality. With a solid constitutional continuity building on GATT experiences, the WTO has successfully made governments accountable to foreign individuals in various capacities either as traders of goods, providers of services, or holders of intellectual property rights within the global marketplace. With a triune personality, the WTO operates within the reign of state primacy - the force - ultimately for the benefits of individuals - the ends - in the global marketplace, and gains a soul of its own in the institutional evolution - the means - of the global trading regime. Although the tripartite dynamics between states, international institutions, and individuals in the global marketplace are unprecedentedly complex, the WTO's ends of benefiting individuals in the global marketplace has no end. Beyond the critical analysis of WTO's decision-making by consensus, the book critically examines GATT's "common intention" treaty interpretation, Antidumping's NME methodology, TRIPS' public health concerns, and IP-competition trade policy dynamics. A unified WTO jurisprudence looking at the WTO as an international social contract on trade is therefore proposed to allow a fresh look at the force, the means, and the ends of the constitutional evolution of the global trading regime.

This edited volume explores the question of the lawfulness under international law of economic activities in occupied territories from the perspectives of international law, EU law, and business and human rights. Providing a multi-level overview of relevant practices, policies and cases, the book is divided in three parts, each dealing with how different legal fields have come to grips with the challenges brought about by the question of the lawfulness under international law of economic activities in occupied territories. The first part includes contributions pertaining to the international law dimension of the question. It contains chapters on the conjunction between jus in bello, jus ad bellum and international human rights law in the context of exploitation of natural resources in territories under belligerent occupation; on third party obligations flowing from the application of occupation law in relation to natural resources exploitation; and on State practice with regards to trading with occupied territories. The second part focuses on EU law and contains contributions that assess the EU's approach to occupied territories and the extent to which this approach comports with the EU's obligations under international law; contributions providing an in-depth assessment of the case-law of the CJEU on occupied territories; as well as contributions pertaining to the political considerations that may influence the legal framing of questions pertaining to occupied territories. The final part focuses on the business and human rights perspective, with chapters on investment arbitration as a means for holding the occupant accountable for its conduct towards foreign investments and investors; on the role and impact of the soft law framework governing corporate activity (such as the UN Guiding Principles) on business involvement with occupied territories; as well as a final case study on the dispute involving Israeli football activity in settlements located in the OPT and the legal responsibility of FIFA in this regard. The book will appeal to academics, practitioners and policy-makers alike.

In less than 100 years, international organizations have evolved from curiosities into keystones of international law. What began long ago as an unremarkable effort to coordinate a limited number of technical issues has grown into a global, multilevel, blended governing project with diverse competences in most fields of human endeavor and interests. Law graduates who enter the field of international law, as well as political science, international relations, and diplomacy, are increasingly expected to have a strong knowledge of the law of international organizations. Beyond knowledge, graduates are also expected to be able to solve new emerging legal problems confronting organizations. This book introduces students to the law of international organizations through the careful study of the most recent cases and other materials from the International Court of Justice, United Nations Security Council and General Assembly, World Trade Organization, international criminal tribunals, European Union, European Court of Human Rights, International Labour Organization, various domestic courts and arbitral panels, and other bodies. In doing so, it undertakes a critical examination of legal rights and duties, exposing the fundamental questions that arise when addressing a range of issues within an organization. In order to provide the best foundation, the textbook focuses on several key topics: the law of treaties, creation of organizations, membership, powers of organizations, legal effects of their acts, organs, immunities, and responsibility. This book is best suited for students who are studying international organizations and who have already had one or more courses on international and/or European law.

In less than 100 years, international organizations have evolved from curiosities into keystones of international law. What began long ago as an unremarkable effort to coordinate a limited number of technical issues has grown into a global, multilevel, blended governing project with diverse competences in most fields of human endeavor and interests. Law graduates who enter the field of international law, as well as political science, international relations, and diplomacy, are increasingly expected to have a strong knowledge of the law of international organizations. Beyond knowledge, graduates are also expected to be able to solve new emerging legal problems confronting organizations. This book introduces students to the law of international organizations through the careful study of the most recent cases and other materials from the International Court of Justice, United Nations Security Council and General Assembly, World Trade Organization, international criminal tribunals, European Union, European Court of Human Rights, International Labour Organization, various domestic courts and arbitral panels, and other bodies. In doing so, it undertakes a critical examination of legal rights and duties, exposing the fundamental questions that arise when addressing a range of issues within an organization. In order to provide the best foundation, the textbook focuses on several key topics: the law of treaties, creation of organizations, membership, powers of organizations, legal effects of their acts, organs, immunities, and responsibility. This book is best suited for students who are studying international organizations and who have already had one or more courses on international and/or European law.

This insightful book collects empirical analyses and case studies to clarify issues and draw policy recommendations for facilitating greater regional trade through increased cooperation. Asia s rapid development has been heavily dependent on markets external to the region. However, given the unlikely timely recovery of the United States or Europe there is an urgent need to develop domestic and regional markets. While greater integration has long been a regional goal, its importance has never been more pressing. To facilitate trade and promote growth and regional integration, and to counteract declining markets in other regions, Asian countries have announced large expenditures for developing infrastructure. Thus, a look at how investment in regional infrastructure promotes and supports interregional trade growth has never been timelier. While the focus is on informing policy-making in Asia, the findings also have relevance for other regions. The detailed studies in this book will be of particular interest to academic economists, policy-makers, and the broader development community. Contributors: N. Banik, D.H. Brooks, J. Gilbert, L. Shantong, S. Stone, A. Strutt, T.S. Yean, H. Wang

The retail sector is an integral part of a national economy. From the political economy perspective, all consumer goods have surplus values locked up in them; the surplus values are not realized until the consumer goods are purchased by consumers through various distribution channels. As such, retailing is the essential link between production and consumption. The success of a retail business depends on two general factors: the location of the retail outlet, and management of the business. Both factors are equally important. If the business is located in the wrong place with the wrong customer base, it will not generate expected sales. Similarly, if the business is poorly managed and operated, it will not perform well even if the location is right. Influenced by both traditional and new location theories, Retail Geography is conceptualized and organized using the retail planning process as the framework. The technical and methodological chapters help guide the reader with detailed descriptions of the techniques and are supported with practical examples to reflect the latest software development. Retail Geography provides a state-of-the-art summary and will act as a core textbook for undergraduate and graduate students of economic geography interested in specializing in retail and business geography. The practical examples also make it a valuable handbook for practitioners in the field, as well as students of retail management and commercial real estate management.

The retail sector is an integral part of a national economy. From the political economy perspective, all consumer goods have surplus values locked up in them; the surplus values are not realized until the consumer goods are purchased by consumers through various distribution channels. As such, retailing is the essential link between production and consumption. The success of a retail business depends on two general factors: the location of the retail outlet, and management of the business. Both factors are equally important. If the business is located in the wrong place with the wrong customer base, it will not generate expected sales. Similarly, if the business is poorly managed and operated, it will not perform well even if the location is right. Influenced by both traditional and new location theories, Retail Geography is conceptualized and organized using the retail planning process as the framework. The technical and methodological chapters help guide the reader with detailed descriptions of the techniques and are supported with practical examples to reflect the latest software development. Retail Geography provides a state-of-the-art summary and will act as a core textbook for undergraduate and graduate students of economic geography interested in specializing in retail and business geography. The practical examples also make it a valuable handbook for practitioners in the field, as well as students of retail management and commercial real estate management.

This is a story about governance in Mexico after the labor and environmental accordsOCocalled side agreementsOCothat accompanied the NAFTA treaty went into effect. These side agreements required member states to uphold and enforce their labor and environmental laws; though never codified, it was widely accepted that Mexico, in particular, had a problem with law enforcement.
"Side Effects" explores how differences in institutional design (of the side agreements) and domestic capacity (between the labor and environment sectors) influenced norm socialization in Mexico. It argues that the acceptance of rule-of-law norms in environmental governance can be attributed to participating institutions' independence from national control, their willingness to give citizens access, and the professionalization and technical capacity of domestic bureaucrats and civil society actors. Changes in labor governance have been hampered by union confederations, longstanding corruption, and a closed opportunity structure. Going beyond a simple accounting exercise of resources devoted to enforcing the law, this book comes to grips with how best to strengthen local capacity and promote pro-norm behaviorOCoadvances essential to the task of development and democratization.

Central American countries have long defined health as a human right. But in recent years regional trade agreements have ushered in aggressive intellectual property reforms, undermining this conception. Questions of IP and health provisions are pivotal to both human rights advocacy and "free" trade policy, and as this book chronicles, complex political battles have developed across the region.
Looking at events in Costa Rica, El Salvador, and Guatemala, Angelina Godoy argues that human rights advocates need to approach intellectual property law as more than simply a roster of regulations. IP represents the cutting edge of a global tendency to value all things in market terms: Life forms--from plants to human genetic sequences--are rendered commodities, and substances necessary to sustain life--medicines--are restricted to insure corporate profits. If we argue only over the terms of IP protection without confronting the underlying logic governing our trade agreements, then human rights advocates will lose even when they win.

This book provides a special interest theory of protection, developing a full general equilibrium theory that explains the distribution of income with goods markets, factor markets, lobbies, political parties, and voters all pursuing their self interest. This probabilistic voting model shows how well-organized groups can use seemingly irrational government policies to exploit poorly organized groups. Given rational predatory behaviour between these groups, protection or any other redistributive policy that improves the chances of election of a party increases political efficiency. This can create an economic black hole, conditions under which an entire economy can disappear into lobbying. Paradoxically, the tariff rates accompanying an economic black hole are very low. The economic waste is confined to lobbying costs. The book contains both theoretical and empirical work explaining protection in the United States (1900-88) and levels of protection in about sixty foreign countries in the 1980s.

In the aftermath of the Napoleonic Wars Britain found itself faced with a stagnant economy. Economist David Ricardo believed that the full re-integration of Britain into the world market would allow for both capital accumulation and population growth, and used arguments that anticipate ideas entertained in modern contributions to the theory of economic growth and development. However, several of these arguments have not yet been translated into the language of modern classical economics. Ricardo's Theory of Growth and Accumulation seeks to overcome this striking lacuna. The latest entry in the Graz Schumpeter lecture series, this text explores and elaborates Ricardo's arguments and the models utilized by those who subsequently followed in support of his work. The Ricardian system is first examined through a one-sector economy, following Kaldor's model, and a two-sector economy, following Pasinetti's model. These building blocks are developed through the exploration of a small open economy, which allows an analysis of the impact of international trade in exceedingly simple circumstances. This discussion expands further by considering the world economy. More sophisticated variants of the two-sector model are presented, in which commodity prices are endogenously determined by the trading interplay amongst several countries. A final analysis makes Ricardo's case by introducing accumulation in the world economy. This book is of interest to students and scholars of Ricardo, classical economics, and - more broadly - growth theory, the theory of international economics, and globalization. The author was keen to render the analytical parts compelling to the historian and the historical parts compelling to the theorist.

Technology offsets, a nonconventional international trade-financing tool, is used by governments (buyers) to obtain industrial and technological benefits from companies (sellers) as part of international procurement. Offsets deals involve billions of dollars and this practice exists in around 80 countries around the world. Though offsets is a popular practice in defence, it is increasingly gaining popularity in civil sectors. Offsets is often tainted by controversy and receives bad press. What then makes offsets popular? Governments claim that offsets delivers technology and knowledge transfer, skills in high technology sectors and employment, and offsets expands export opportunities through participation in OEM supply chains. For companies, offsets is mainly employed as a tool to obtain a competitive edge and win sales in international business. In the past, there have been mixed results of case studies on the impact of offsets successes and failures. Considering the mismanagement of globalisation, unfair trade agreements and current political and economic discontent, there is a stronger need for governments and companies to use vehicles such as offsets to create a relationship of trust and commitment for sustainable development. This book fills the gap in offsets and focuses on how to manage offsets more effectively by addressing issues of strategy, policy and implementation, technology management, governance and risk. Technology Offsets in International Defence Procurement is designed for those studying international procurement, international trade, international business, technology management, defence policy and industrial policy. This book will also be of interest to practitioners and policy makers in both government and industry.

Reflecting Professor Holzman's important work, this book deals with major issues relating to both East-West and intra-bloc trade. Professor Holzman explores the transition in Soviet bloc economies over the past fifteen years from balanced hard-currency trade to large deficits with the West and the consequent development of a huge hard-currency debt. He compares the causes and treatments of deficits in planned economies with those in market economies and explores the dramatic differences in foreign trade behavior exhibited by Eastern and Western nations and the difficulties that arise when these conflicting systems interact in world markets. He also assesses the impact of Western economic warfare on the Soviet Union and makes recommendations for future U.S. trade policy. The author next turns to the issue of intra-bloc trade. In its early years the USSR economically exploited the smaller East European nations, but many argue that the Soviet Union now subsidizes trade with its partners in the Council for Mutual Economic Assistance in exchange for political, military, and ideological support-an argument that Professor Holzman strongly challenges. He also contends that CMEA, when viewed as a preferential trade group or customs union, has been markedly unsuccessful. On another level, Professor Holzman assesses the causes and possible cures for the serious, chronic problems related to currency inconvertibility, rigid bilateralism, and inability to use exchange rates as tools of economic adjustment. In an international economy growing ever more interdependent, the issues raised in these previously uncollected essays will continue to gain in importance as East and West meet in trade.

This is a story about governance in Mexico after the labor and environmental accords--called "side agreements"--that accompanied the NAFTA treaty went into effect. These side agreements required member states to uphold and enforce their labor and environmental laws; though never codified, it was widely accepted that Mexico, in particular, had a problem with law enforcement.
"Side Effects" explores how differences in institutional design (of the side agreements) and domestic capacity (between the labor and environment sectors) influenced norm socialization in Mexico. It argues that the acceptance of rule-of-law norms in environmental governance can be attributed to participating institutions' independence from national control, their willingness to give citizens access, and the professionalization and technical capacity of domestic bureaucrats and civil society actors. Changes in labor governance have been hampered by union confederations, longstanding corruption, and a closed opportunity structure. Going beyond a simple accounting exercise of resources devoted to enforcing the law, this book comes to grips with how best to strengthen local capacity and promote pro-norm behavior--advances essential to the task of development and democratization.