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Week 5
Political* Legal & Regulatory Considerations
Week 5 - Index:
http://news.bbc.co.uk/1/hi/in_depth/business/2004/world_trade
"WTO-plus"
obligations and their implications for the World Trade
Organization legal system -
Julia Ya Qin. Journal
of World Trade. New York: Jun
2003. Vol. 37, Iss. 3; pg. 483 |
| Abstract (Article Summary) |
| This article focuses on one set of the special provisions of the China Protocol: those that prescribe obligations exceeding the existing requirements of the WTO agreements. Such obligations are also known as the WTO-plus obligations. Prior to the accession of China, very few WTO-plus obligations existed for the several WTO acceding Members, and their impact on the WTO legal regime was negligible. Due to the China Protocol, the situation has now changed. The WTO-plus obligations undertaken by China are extensive: they cover areas ranging from the administration of China's trade regime (transparency, judicial review, sub-national governments, and transitional review), to the Chinese economic system (market economy commitments), to new WTO disciplines on investment (investment measures and national treatment of foreign investors). Section I introduces the background and analytical framework for the WTO-plus obligations of China. Section II identifies seven categories of such obligations in reference to existing WTO rules. Section III discusses the positive and negative implications of such obligations for the WTO legal system, as well as the unspoken rationale behind their creation. Section IV provides the conclusions of the study and makes several recommendations regarding reform of the WTO accession process. |
|
International trade
-
Arvind Panagariya. Foreign
Policy. Washington: Nov/Dec
2003. , Iss. 139; pg. 20 |
| Why have disagreements between rich and poor nations stalled the global trading system? Because vapid debates over "fair trade" obscure some inconvenient facts: First, notwithstanding their demands for equity, poor countries are more protectionist than advanced economies. Second, if rich nations cut their self-defeating agricultural subsidies, their own publics would benefit, but consumers in many poor countries would not. Finally, despite criticisms to the contrary, the WTO can help promote economic development in low-income countries-but only if rich nations let the global body do its job. |
|
Our Credo: Free Trade and
Competition -
Robert B. Zoellick. Wall
Street Journal. (Eastern edition).New York, N.Y.: Jul
10, 2003. pg. A10 |
| Abstract (Article Summary) |
| It is critical for the U.S. -- along with the
European Union -- to propel the Doha trade and development agenda. That is
why America has challenged our WTO partners to view this negotiation as a
once-in-a- generation opportunity. We have proposed the elimination of all
tariffs on manufactured goods by 2015. In agriculture, the U.S. has called
for eliminating export subsidies, cutting $100 billion from domestic
subsidies that distort production and trade, and slashing tariffs to no
higher than 25% -- with the U.S. average dropping to 5%. The U.S. has also
pressed to open services markets, which the World Bank estimates could add
$900 billion a year to developing economies alone So what should the U.S. do if other nations choose protectionism over free trade? Under the WTO's procedures, one nation can block progress. It would be a grave mistake to permit any one country to veto America's drive for global free trade. Our strategy is based on a concept that any economics professor should appreciate: competition. If some countries hide behind the false security of protectionism, the U.S. will work with those that believe true economic strength is achieved through openness. The strategy is simple: The U.S. is spurring a competition in liberalization. In the wake of the disastrous protectionism of the 1930s, Secretary of State Cordell Hull employed this logic to cut tariffs and build momentum for global trade rules by negotiating 32 bilateral agreements. |
Postings on week 5 readings- due Feb. 8th @12noon
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