{"title":"The International Commercial Dispute Prevention and Settlement Organization: A Global Laboratory of Dispute Resolution with an Asian Flavor","authors":"Guiguo Wang, Rajesh Sharma","doi":"10.1017/aju.2020.82","DOIUrl":"https://doi.org/10.1017/aju.2020.82","url":null,"abstract":"The Second Belt and Road Forum for International Cooperation announced the establishment of the International Commercial Dispute Prevention and Settlement Organization (ICDPASO) in 2019. The ICDPASO was coordinated by the China Council for the Promotion of International Trade and the China Chamber of International Commerce, together with industrial and commercial organizations and legal service agencies from over thirty countries and regions including the European Union, Italy, Singapore, Russia, Belgium, Mexico, Malaysia, Poland, Bulgaria, and Myanmar. It was launched on 15 October 2020. As its title indicates, ICDPASO's mandate to provide dispute resolution services is not confined to the Belt and Road Initiative (BRI) countries but includes resolving any disputes that the parties entrust to its jurisdiction. The ICDPASO aims to serve as a “legal hub” to resolve commercial and investment disputes effectively, efficiently, and practically. Unlike other multilateral dispute resolution forums, it is intended to provide an Asian-centric multilateral dispute resolution forum. This essay, the first on the subject of the ICDPASO, discusses how the ICDPASO can serve as a global laboratory for experimenting and innovating in dispute resolution with the potential to impact the landscape of international law, in particular its innovative use of mediation, good offices, and appeal processes to prevent and resolve disputes arising from the BRI. As BRI projects aim to establish infrastructure and digital connectivity within BRI countries and regions for trade and development, this essay argues that the dispute resolution process under the ICDPASO should take into account the overall development of a country or region. The essay concludes that the ICDPASO will be a game changer by introducing an Asian way of resolving disputes.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117134152","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Transnational Torts against Private Corporations: A Functional Theory for the Application of Customary International Law Post-Nevsun","authors":"Hassan Ahmad","doi":"10.2139/ssrn.3759432","DOIUrl":"https://doi.org/10.2139/ssrn.3759432","url":null,"abstract":"After the Supreme Court of Canada’s decision in Nevsun Resources Ltd. v. Araya, Canadian courts can, in theory, apply customary international law (CIL) to private corporate actors for the purposes of a transnational tort claim pursuant to allegations related to human rights and/or environmental harms. The Court found a tort claim grounded in CIL to be symbolically different than existing causes of action as it is of a public nature that tends to shock the conscience of humanity. To respect CIL’s distinct status, I argue Canadian courts should assert jurisdiction over a related tort claim in limited circumstances when a corporate defendant has behaved abroad like a state actor by discharging what were traditionally regarded as public functions vis-à-vis host state populations. <br><br>Pursuant to what I term a ‘functional approach’, a corporate CIL tort would only be available in two discrete instances. In the first, a court would assess whether the corporation has become what Butler calls a ‘semi-state’ by displacing a failed or fragile host state government in the provision of, for instance, food, shelter, infrastructure, healthcare, and public security. In the second, a CIL tort would be available when an investor-state arrangement specifically concerns the provision of public goods and/or services to a host state population such as utilities, infrastructure, transportation, or immigration control. Applying a functional approach in this manner would avoid a dissonance post-Nevsun between CIL’s heightened status and the availability of a related tort on every occasion a corporate actor invests and subsequently commits harm abroad. It would also more closely align with U.S. jurisprudence as well as CIL’s historical understanding by international organizations and tribunals.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"207 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115917742","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"General exceptions under the GATS - A Legal Commentary on Article XIV GATS","authors":"Panos Delimatsis, Léo Gargne","doi":"10.2139/ssrn.3757464","DOIUrl":"https://doi.org/10.2139/ssrn.3757464","url":null,"abstract":"The general and specific obligations undertaken under the General Agreement on Trade in Services (GATS) by Members in relation to non-discrimination and market access and a level playing field in services, may under certain circumstances, considerably restrict the pursuit of equally legitimate, non-economic policy goals and competing public interests and values, such as public health, public order, safety, public morals or the environment. WTO law seeks to establish a proper balance between these different policy goals, notably through general exceptions applicable to all provisions and existing commitments under an agreement. Art. XIV GATS follows the model of Art. XX GATT 1994, and given that the case law relating to Art. XIV GATS is still in its infant stage, WTO adjudicating bodies have recourse to precedents developed under Art. XX GATT 1994, albeit taking into account the different structure and flexibility of the GATS and commitments made by Members. Nonetheless, the experience in case law is still limited and it is difficult to anticipate future needs or developments in appropriately shaping and construing Art. XIV GATS. Any such effort to interpret Art. XIV should bear in mind that it is arguably only when Members’ regulatory concerns are accommodated that they will be willing to engage in enhanced commitments to liberalize trade. Both the requirement of necessity or proportionality and the function of the chapeau protect Members from excessive and abusive recourse to exemptions for purely protectionist or rent-seeking reasons of a particular domestic service industry.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133469407","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Operating Profitableness in Projects with Multiply IRR Values. Reconstruction of Sense","authors":"A. Zhevnyak","doi":"10.2139/ssrn.3742358","DOIUrl":"https://doi.org/10.2139/ssrn.3742358","url":null,"abstract":"For the investment project, a family of replacement credits is built, in each of which one of the IRR values is taken as the interest rate. In all such replacement credits, the areas of operating profitableness of the investor and the recipient are defined as the intervals of the change in the discount rate, where the discounted amounts of interest payments are positive or negative, respectively. In these areas, which have IRR values as their internal or boundary point, the operational profitablenesses of project participants take constant values equal to the corresponding IRR value. For all non-negative values of the discount rate, the operating profitableness of the investor and the recipient have the form of unequivocal piecewise constant functions. Real returns of project participants with multiple IRR values in all intervals of the change in the discount rate between IRR values coincide with their operating profitableness. And only in the edge interval, at discount rates higher than the maximum IRR, the real returns of the participants are determined by the principle of conservation the project’s own profitableness.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124059938","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Defective Fundamentals of Pakistan's Foreign Exchange Law - Need to Switch from Controls to Liberalization in Order to Achieve Prosperity in the Era of Digital Trade","authors":"Faisal Daudpota","doi":"10.2139/ssrn.3699163","DOIUrl":"https://doi.org/10.2139/ssrn.3699163","url":null,"abstract":"Pakistan currently has a foreign exchange controls regime in the shape of Foreign Exchange Regulation Act, 1947 (FERA’47). In my humble view, FERA’47 is faulty and needs to be replaced with a new law for effective liberalization of forex market in Pakistan.<br><br>The basic object of FERA’47, as a legacy legislation of WWII, was to restrict outflow of foreign exchange. However, in current times, with rapid developments in the field of trade, commerce and communication and with modern technology the world itself has become a global village and no country can prosper in isolation of others. Presently there is an ongoing fierce competition among various developed countries to attract foreign investment for the purpose of development. In such a situation the importance of creating a liberal environment to encourage inflow of foreign currency cannot be under stated. <br><br>This article has been structured in seven parts as below. The first serves as the introduction to subject matter of this article; the second part provides a brief historical background leading to enactment of FERA’47; the third part identifies the current nature of FERA’47 as an offence creating penal statute that is not compatible to current global digital trade; the fourth part notes the dilemma as to halfhearted liberalization measures during the period of 1990s and 2000s; the fifth part brings home the point that liberalization is the need of the hour; the sixth part highlights the essential recommendations for forex liberalization; and the final seventh part serves as the conclusion to this article.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128191564","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Enforcing Consumer and Capital Markets Law in the United States","authors":"A. Schmitz","doi":"10.1017/9781839700521.015","DOIUrl":"https://doi.org/10.1017/9781839700521.015","url":null,"abstract":"Consumers with similar claims in the United States (US) often join forces to pursue remedies using class actions. This allows them to obtain remedies with little cost and effort and serves a ‘private attorney general’ function by bringing light to purchase problems and deceptive practices that may otherwise be ignored. This is especially true in small dollar claims, where the cost to individually litigate is disproportionate to the eventual judgment. However, some have criticised class actions in the US for forcing settlements and padding the pockets of lawyers, while leaving consumers with minimal pay-outs. This chapter will provide an overview of how enforcement and class actions operate in the US, using the Volkswagen (VW) diesel emissions case as an example. This chapter is part of a book that provides a comparative study of consumer and capital markets law. The book includes country reports from all over the world, all looking at how consumers and shareholders in various countries asserted claims evolving from the Dieselgate scandal.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121521778","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Highway Across the Atlantic? Trade and Welfare Effects of the EU-Mercosur Agreement","authors":"Jacopo Timini, F. Viani","doi":"10.2139/ssrn.3659242","DOIUrl":"https://doi.org/10.2139/ssrn.3659242","url":null,"abstract":"In this paper we analyze the EU-Mercosur agreement and predict its effects on trade and welfare using a general equilibrium structural gravity model. First, we estimate the increase in trade flows generated by trade agreements that are similar to the EU-Mercosur one, in a partial equilibrium setting. In a second step, the estimated increase in trade is mapped into reductions in bilateral trade costs and imputed to EU-Mercosur country pairs to compute the general equilibrium effects of the agreement in terms of trade creation, trade diversion, and welfare effects. Our results indicate that the EU-Mercosur agreement is likely to have a positive impact on trade and welfare of both regional blocs, although with substantial heterogeneity both between and within the two areas.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125079847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Langford, M. Potestà, G. Kaufmann-Kohler, D. Behn
{"title":"UNCITRAL and Investment Arbitration Reform: Matching Concerns and Solutions","authors":"M. Langford, M. Potestà, G. Kaufmann-Kohler, D. Behn","doi":"10.1163/22119000-12340171","DOIUrl":"https://doi.org/10.1163/22119000-12340171","url":null,"abstract":"\u0000The ongoing ‘legitimacy crisis’ in investor-State dispute settlement (ISDS) has triggered a comprehensive attempt at multilateral reform. In 2017, Working Group III at the United Nations Commission on International Trade Law (UNCITRAL) was entrusted with a broad, open-ended and problem-driven mandate. The reform process aims to tackle particular concerns with ISDS: excessive costs and lengthy proceedings, inconsistent and incorrect decisions, and a lack of arbitral diversity and independence. The exclusion of substantive treaty reform has met critique but states are considering a wide range of procedural options from incremental reform to a multilateral court, appellate mechanism, and ISDS alternatives. In this article, we introduce the reform process and the seven articles that follow in this Special Issue of the Journal on World and Investment and Trade. In these contributions, ISDS Academic Forum members analyse the basis for each concern and the potential contribution of leading reform models.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"34 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114107503","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Digital Trade in a Post-Pandemic Data-Driven Economy","authors":"Dan Ciuriak","doi":"10.2139/ssrn.3617251","DOIUrl":"https://doi.org/10.2139/ssrn.3617251","url":null,"abstract":"The pandemic is impacting at a time of major transformational change in the global economy driven by the digital transformation, a decoupling between the United States and China, and the rise of populism. The massive economic shock of the pandemic is not only accelerating changes that were “in the works” but is also deflecting the evolution of the economy in new and unexpected directions by changing market evaluation of supply chain risks and raising national concerns about the robustness of domestic capacities for emergency response. Whether V-shaped, W-shaped, or Nike swoosh-shaped, the important issue is not so much when (and if) the global economy regains the heights of the pre-pandemic era, but where the recovery takes the global economy in terms of how and where work is done. A substantial part of the fixed capital stock will have to be written down or written off, including the backbone economic infrastructure; comparative advantage of nations will be reshaped by national investment strategies (which may include an accelerated adoption of green economy strategies to address climate change); and business strategies will evolve to take advantage of accelerated technological development and to respond to changing patterns of demand. These developments will naturally have major implications for the direction and structure of trade, both as regards traditional goods and services and the rapidly growing forms of digital and digitally enabled trade. The accelerated expansion of the latter forms also heighten the needs for trade governance reforms.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117053031","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Vrijheid en bescherming van kwetsbare personen in het internationaal privaatrecht. (Freedom and Protection of Vulnerable Parties in Private International Law)","authors":"Veerle Van Den Eeckhout","doi":"10.2139/ssrn.3592517","DOIUrl":"https://doi.org/10.2139/ssrn.3592517","url":null,"abstract":"Dutch Abstract: In deze bijdrage worden enkele beschouwingen vanuit internationaal privaatrechtelijk perspectief geformuleerd omtrent “vrijheid” en vrijheidsbeperking. Gefocust wordt op de algemene dynamiek van voortschrijdende Europeanisatie van het ipr, met bijzondere aandacht voor diverse actuele thema’s, met name inzake arbeidsovereenkomsten, consumentenovereenkomsten en aansprakelijkheid van multinationals voor schending van mensenrechten cq milieuverontreiniging. Zowel directe als indirecte verschijningsvormen van vrijheid cq partijautonomie worden blootgelegd, daarbij de verhouding tussen vrijheid en bescherming van kwetsbare partijen in het ipr explorerend.English Abstract: In this contribution, a number of considerations are formulated from a Private International Law perspective about “freedom” as well as about restriction of freedom. The focus is on the general dynamics of the ongoing Europeanisation of PIL, particularly with attention to various topical issues, namely regarding employment contracts, consumer contracts, and non-contractual liability of multinationals for human rights violations and environmental pollution. Both direct and indirect manifestations of freedom cq party autonomy are exposed, exploring thereby the relationship between “freedom” and “protection of vulnerable parties” in Private International Law.","PeriodicalId":378416,"journal":{"name":"International Economic Law eJournal","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131525505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}