{"title":"Book Review","authors":"R. Anuradha","doi":"10.1093/jiel/jgad012","DOIUrl":"https://doi.org/10.1093/jiel/jgad012","url":null,"abstract":"","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2023-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47421584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Correction to: From Bananas to Large Civil Aircraft: An On-Going Quest for Value-Added in the Computation of Countermeasures at the WTO","authors":"","doi":"10.1093/jiel/jgad014","DOIUrl":"https://doi.org/10.1093/jiel/jgad014","url":null,"abstract":"","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2023-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43068741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article responds to the growing risk of Investor–State Dispute Settlement (ISDS) claims arising from states’ measures to mitigate climate change, such as fossil fuel phase-outs. It proposes a carve-out that would cover measures that are adopted in good faith and have a reasonable causal nexus with reducing and stabilizing greenhouse gas emissions (e.g. measures ‘related to’ this aim). Depending on states’ preferences, the carve-out could be designed as a treaty-wide exclusion from international investment agreements (IIAs) or as a carve-out that only removes such measures from ISDS procedures. Importantly, we propose a process to govern the application of the carve-out that prevents this issue being determined by ISDS tribunals. We argue that questions concerning the carve-out’s application to specific investor claims should initially be subject to joint determination by the treaty parties’ environmental authorities. Where these authorities cannot agree, we propose that this issue should be referred to a State–State tribunal that includes members with climate-related expertise. This article advances the specific debate about a climate carve-out for IIAs and wider debates about strategies for protecting regulatory space under IIAs through its detailed examination of carve-outs, drawing on examples from a range of subject areas.
{"title":"A Climate Change Carve-Out for Investment Treaties","authors":"Joshua Paine, Elizabeth Sheargold","doi":"10.1093/jiel/jgad011","DOIUrl":"https://doi.org/10.1093/jiel/jgad011","url":null,"abstract":"\u0000 This article responds to the growing risk of Investor–State Dispute Settlement (ISDS) claims arising from states’ measures to mitigate climate change, such as fossil fuel phase-outs. It proposes a carve-out that would cover measures that are adopted in good faith and have a reasonable causal nexus with reducing and stabilizing greenhouse gas emissions (e.g. measures ‘related to’ this aim). Depending on states’ preferences, the carve-out could be designed as a treaty-wide exclusion from international investment agreements (IIAs) or as a carve-out that only removes such measures from ISDS procedures. Importantly, we propose a process to govern the application of the carve-out that prevents this issue being determined by ISDS tribunals. We argue that questions concerning the carve-out’s application to specific investor claims should initially be subject to joint determination by the treaty parties’ environmental authorities. Where these authorities cannot agree, we propose that this issue should be referred to a State–State tribunal that includes members with climate-related expertise. This article advances the specific debate about a climate carve-out for IIAs and wider debates about strategies for protecting regulatory space under IIAs through its detailed examination of carve-outs, drawing on examples from a range of subject areas.","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2023-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48409502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In the last few years, many states around the world have faced a series of shocks to their economies—from the seizing up of global supply chains to the weaponization of trade and finance—that have catapulted concerns about how to strike a balance between risk, reward, and resilience into the center of public discussions and policy-making. This Article provides a new Risk, Reward, and Resilience Framework, which synthesizes and integrates insights from diverse disciplines and domains. I set out the drivers of each element, how they are connected, and resulting policy choices. To illustrate its practical application, I apply Risk, Reward, and Resilience Framework to two case studies involving economic interdependence: the COVID-19 supply chain shock and China’s economic coercion of Australia. In doing so, I provide policymakers with a new mental model for thinking about and working through complex policy challenges.
{"title":"Risk, Reward, and Resilience Framework: Integrative Policy Making in a Complex World","authors":"Anthea Roberts","doi":"10.1093/jiel/jgad009","DOIUrl":"https://doi.org/10.1093/jiel/jgad009","url":null,"abstract":"\u0000 In the last few years, many states around the world have faced a series of shocks to their economies—from the seizing up of global supply chains to the weaponization of trade and finance—that have catapulted concerns about how to strike a balance between risk, reward, and resilience into the center of public discussions and policy-making. This Article provides a new Risk, Reward, and Resilience Framework, which synthesizes and integrates insights from diverse disciplines and domains. I set out the drivers of each element, how they are connected, and resulting policy choices. To illustrate its practical application, I apply Risk, Reward, and Resilience Framework to two case studies involving economic interdependence: the COVID-19 supply chain shock and China’s economic coercion of Australia. In doing so, I provide policymakers with a new mental model for thinking about and working through complex policy challenges.","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2023-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43238704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Bernard M Hoekman, Petros C Mavroidis, Sunayana Sasmal
ABSTRACT By prohibiting subsidies that support illegal, unregulated, or unreported fishing activities and contribute to the unsustainable depletion of marine resources, the 2022 Agreement on Fisheries Subsidies (AFS) is the first World Trade Organization (WTO) treaty to recognize that a specific trade policy instrument can have adverse consequences for the global commons. We assess the AFS as such and through the lens of the broader challenge confronting WTO members in determining how to address subsidy spillovers and adapt trade policy rules to protect the global commons. While the AFS is a step forward for the WTO, definitions of what constitutes a subsidy and the approach taken to ensure transparency are those that have been part of the WTO since 1995 and have become the cause for contestation and calls for reform. We suggest ways in which birth defects can be addressed while implementing and expanding the coverage of the agreement.
{"title":"Managing Externalities in the WTO: The Agreement On Fisheries Subsidies","authors":"Bernard M Hoekman, Petros C Mavroidis, Sunayana Sasmal","doi":"10.1093/jiel/jgad008","DOIUrl":"https://doi.org/10.1093/jiel/jgad008","url":null,"abstract":"ABSTRACT By prohibiting subsidies that support illegal, unregulated, or unreported fishing activities and contribute to the unsustainable depletion of marine resources, the 2022 Agreement on Fisheries Subsidies (AFS) is the first World Trade Organization (WTO) treaty to recognize that a specific trade policy instrument can have adverse consequences for the global commons. We assess the AFS as such and through the lens of the broader challenge confronting WTO members in determining how to address subsidy spillovers and adapt trade policy rules to protect the global commons. While the AFS is a step forward for the WTO, definitions of what constitutes a subsidy and the approach taken to ensure transparency are those that have been part of the WTO since 1995 and have become the cause for contestation and calls for reform. We suggest ways in which birth defects can be addressed while implementing and expanding the coverage of the agreement.","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135080361","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Blockchain is a potent buzzword and a potentially transformative technology. Diverse businesses are looking to leverage this technology to reap its alleged benefits of increased efficiency, reduced costs, enhanced transparency, and improved traceability. Yet, significant confusion persists about the structure, utility, and applicability of blockchain technology. A clear understanding of what blockchain is and how it works is especially important for lawyers advising clients on the applications that use, or purport to use, it. This article aims to assist lawyers and regulators by providing conceptual clarity about what blockchain is, how it works, and its main use cases. These use cases include smart contracts, cryptoassets, and some central bank digital currencies. These applications may transform business practices, or even entire monetary and payment systems, so conceptual clarity among lawyers will only become more vital.
{"title":"Blockchain and its Applications: A Conceptual Legal Primer","authors":"Ross P. Buckley, Anton N Didenko, Mia Trzecinski","doi":"10.1093/jiel/jgad010","DOIUrl":"https://doi.org/10.1093/jiel/jgad010","url":null,"abstract":"\u0000 Blockchain is a potent buzzword and a potentially transformative technology. Diverse businesses are looking to leverage this technology to reap its alleged benefits of increased efficiency, reduced costs, enhanced transparency, and improved traceability. Yet, significant confusion persists about the structure, utility, and applicability of blockchain technology. A clear understanding of what blockchain is and how it works is especially important for lawyers advising clients on the applications that use, or purport to use, it. This article aims to assist lawyers and regulators by providing conceptual clarity about what blockchain is, how it works, and its main use cases. These use cases include smart contracts, cryptoassets, and some central bank digital currencies. These applications may transform business practices, or even entire monetary and payment systems, so conceptual clarity among lawyers will only become more vital.","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2023-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41421382","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ABSTRACT Cross-border supply chains and international trade enabled the manufacturing and delivery of billions of vaccine doses to inoculate the world against the Coronavirus disease (COVID-19). At the same time, the pandemic revealed how the World Trade Organization (WTO) must change to become more useful in the face of a public health emergency. This paper describes the market failures—especially on the supply side—justifying the domestic subsidies and contracting arrangements used to accelerate vaccine research and development and to increase the scale of vaccine production to save lives, livelihoods, and economic activity during a pandemic. It highlights the trade-offs associated with the US subsidies and the priority-rated contracts written for vaccines through the Defense Production Act under Operation Warp Speed. This case study reveals a rich environment in which cross-border supply chains exacerbate input shortages in ways that constrain vaccine production, highlighting the need for the WTO to embrace new forms of international policy coordination for pandemic preparedness and response. As part of a pandemic treaty, the paper proposes a plurilateral agreement on vaccine supply chain resilience that would include novel and enforceable disciplines for export restrictions, provisions to trigger coordinated subsidies across countries to jointly scale up vaccine output and input production capacity, and market surveillance initiatives on supply chain transparency.
跨境供应链和国际贸易使数十亿剂疫苗的生产和交付成为可能，为全世界接种了新型冠状病毒病(COVID-19)。与此同时，这次大流行表明，世界贸易组织(WTO)必须做出改变，才能在面对突发公共卫生事件时发挥更大作用。本文描述了市场失灵——尤其是供给方面的失灵——为国内补贴和合同安排提供了理由，这些补贴和合同安排用于加速疫苗研发和扩大疫苗生产规模，以在大流行期间拯救生命、生计和经济活动。它强调了与美国补贴和根据“曲速行动”(Operation Warp Speed)通过《国防生产法案》(Defense Production Act)为疫苗制定的优先级合同相关的权衡。这一案例研究揭示了一个丰富的环境，在这个环境中，跨境供应链加剧了投入短缺，从而限制了疫苗的生产，这突出表明，世贸组织有必要为大流行的防范和应对采取新的国际政策协调形式。作为大流行条约的一部分，该文件提出了一项关于疫苗供应链弹性的诸边协议，其中将包括新的和可执行的出口限制纪律，启动各国协调补贴的条款，以共同扩大疫苗产出和投入物的生产能力，以及关于供应链透明度的市场监测举措。
{"title":"The WTO and Vaccine Supply Chain Resilience during a Pandemic","authors":"Chad P Bown","doi":"10.1093/jiel/jgad007","DOIUrl":"https://doi.org/10.1093/jiel/jgad007","url":null,"abstract":"ABSTRACT Cross-border supply chains and international trade enabled the manufacturing and delivery of billions of vaccine doses to inoculate the world against the Coronavirus disease (COVID-19). At the same time, the pandemic revealed how the World Trade Organization (WTO) must change to become more useful in the face of a public health emergency. This paper describes the market failures—especially on the supply side—justifying the domestic subsidies and contracting arrangements used to accelerate vaccine research and development and to increase the scale of vaccine production to save lives, livelihoods, and economic activity during a pandemic. It highlights the trade-offs associated with the US subsidies and the priority-rated contracts written for vaccines through the Defense Production Act under Operation Warp Speed. This case study reveals a rich environment in which cross-border supply chains exacerbate input shortages in ways that constrain vaccine production, highlighting the need for the WTO to embrace new forms of international policy coordination for pandemic preparedness and response. As part of a pandemic treaty, the paper proposes a plurilateral agreement on vaccine supply chain resilience that would include novel and enforceable disciplines for export restrictions, provisions to trigger coordinated subsidies across countries to jointly scale up vaccine output and input production capacity, and market surveillance initiatives on supply chain transparency.","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135473738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
ABSTRACT International organizations are essential actors in the international legal system and play key roles in all aspects of international law, from its creation to its enforcement and implementation. As their work becomes progressively more significant and specialized, international organizations have also embarked on many new initiatives and have adopted new working methods. An interesting example of this development is the effort of United Nations Commission on International Trade Law (UNCITRAL) Working Group III (WGIII) to reform Investor–State Dispute Settlement (ISDS), a unique international dispute settlement mechanism that permits a foreign investor to bring a claim against a State on issues related to international investment law. At a time of declining international codification, UNCITRAL WGIII’s plan to reform ISDS stands out as remarkably ambitious. It is also responsive to identified vacuums and needs and is likely to lead, at least partially, to a degree of reform of ISDS. In this short contribution, I first introduce the codification of international economic law issues as distinct from other kinds of codification. I then introduce UNCITRAL and explore the work of UNCITRAL WGIII more specifically. In particular, I explain and assess the ISDS reform process as an example of an ongoing transformation of the work of international organizations and a new initiative on which they embarked using a specific methodology of selecting issues, developing draft texts, and serving as a place for drafting negotiations.
{"title":"The Transformation of International Organizations—Specialization, New Initiatives, and Working Methods—Some Observations on the Work of UNCITRAL Working Group III","authors":"Chiara Giorgetti","doi":"10.1093/jiel/jgad004","DOIUrl":"https://doi.org/10.1093/jiel/jgad004","url":null,"abstract":"ABSTRACT International organizations are essential actors in the international legal system and play key roles in all aspects of international law, from its creation to its enforcement and implementation. As their work becomes progressively more significant and specialized, international organizations have also embarked on many new initiatives and have adopted new working methods. An interesting example of this development is the effort of United Nations Commission on International Trade Law (UNCITRAL) Working Group III (WGIII) to reform Investor–State Dispute Settlement (ISDS), a unique international dispute settlement mechanism that permits a foreign investor to bring a claim against a State on issues related to international investment law. At a time of declining international codification, UNCITRAL WGIII’s plan to reform ISDS stands out as remarkably ambitious. It is also responsive to identified vacuums and needs and is likely to lead, at least partially, to a degree of reform of ISDS. In this short contribution, I first introduce the codification of international economic law issues as distinct from other kinds of codification. I then introduce UNCITRAL and explore the work of UNCITRAL WGIII more specifically. In particular, I explain and assess the ISDS reform process as an example of an ongoing transformation of the work of international organizations and a new initiative on which they embarked using a specific methodology of selecting issues, developing draft texts, and serving as a place for drafting negotiations.","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135638018","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Preserving the Crown Jewel","authors":"Stratos Pahis","doi":"10.1093/jiel/jgad006","DOIUrl":"https://doi.org/10.1093/jiel/jgad006","url":null,"abstract":"","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":3.1,"publicationDate":"2023-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42826743","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Journal Article Excellence in Reviewing Award: Journal of International Economic Law Get access Journal of International Economic Law, Volume 26, Issue 1, March 2023, Page 2, https://doi.org/10.1093/jiel/jgad003 Published: 30 January 2023 Article history Received: 09 January 2023 Accepted: 10 January 2023 Corrected and typeset: 30 January 2023 Published: 30 January 2023
期刊论文评审优秀奖:Journal of International Economic Law获取《国际经济法杂志》2023年3月第26卷第1期第2页https://doi.org/10.1093/jiel/jgad003出版时间:2023年1月30日文章历史收稿时间:2023年1月9日接收时间:2023年1月10日校排版时间:2023年1月30日出版时间:2023年1月30日
{"title":"Excellence in Reviewing Award","authors":"","doi":"10.1093/jiel/jgad003","DOIUrl":"https://doi.org/10.1093/jiel/jgad003","url":null,"abstract":"Journal Article Excellence in Reviewing Award: Journal of International Economic Law Get access Journal of International Economic Law, Volume 26, Issue 1, March 2023, Page 2, https://doi.org/10.1093/jiel/jgad003 Published: 30 January 2023 Article history Received: 09 January 2023 Accepted: 10 January 2023 Corrected and typeset: 30 January 2023 Published: 30 January 2023","PeriodicalId":46864,"journal":{"name":"Journal of International Economic Law","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135491277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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