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Complete samenvatting Foundations of International Economic Law $9.74   Add to cart

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Complete samenvatting Foundations of International Economic Law

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My complete summary for the master course Foundations of international economic law of the master's degree in International trade and investment law at the uva. I got an 8 with this.

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  • March 28, 2022
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  • 2021/2022
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By: caitlinverhoeven • 2 year ago

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FOUNDATIONS OF INTERNATIONAL ECONOMIC LAW
INTERNATIONAL ECONOMIC LAW
- International
o Treaty of Westphalia- the birth of international law (disputed but whatever)
o Sovereignty and respecting other sovereigns
- Economic
o Smith: everyone acts for their own interest (not the kindness of their hearts)
o Each can maximize their activity (transborder production: more efficiency but less legal security)
o Keynes: economic goods = natural
- Law
o Hart: Legal system = primary rules + secondary rules
 Primary rules: rules governing conduct; Secondary rules: Rules of recognition (what are rules?); Rules of
change (how to change the rules?); Rules of adjudication (how to solve disagreements?)

INTERNATIONAL ECONOMIC LAW
- Complex architecture of rules governing international economic relations and transboundary economic conduct by States,
international organizations, and private actors.
- Regulation of cross-border transactions in goods, services, and capital, monetary relations and the international protection of
intellectual property.
- Core areas of international economic law: international trade law, law of regional economic integration, and other bi- or multilateral
trade agreements, international investment law and international monetary law.
- Actors of international economic law are: states, state-owned enterprises, and international organizations. Alongside international
organizations, new forms of inter-State cooperation have emerged as a response to the ever-increasing economic globalization

Dutch East - Birth of global trade & investment system
India
Company
After - 1920/30ies: no rules on international trade (between WWI and WWII)
World - unstable political and economic situation led most countries to adopt massive trade restrictions in order to
War II protect domestic production and employment
Bretton - Set of unified rules and policies provided framework to create fixed international currency exchange
Woods rates.
- World Bank + IMF + International Trade Organization
o Havana Charter (1947-1948): resistance in US Congress, fear that ITO would undermine broad
congressional powers in regulating foreign commerce. US congress never ratified
GATT - came into being in 1947: remained in force until the foundation of the WTO in 1995
1947 - conceived as interim agreement (originally thought to be designed as part of the ITO)
- function: conceived as an instrument to bring about progressive liberalisation
- Dealt only with trade (border barriers, unconditional MFN)
- GATT problems
o Problems lowering of trade barriers: ‘New protectionism’: anti-dumping, subsidies, voluntary export re-
strictions; Fragmentation of rules, ‘forum shopping’
o Regional trade agreements (EU, NAFTA, MERCOSUR)
o New multilateral system, stronger rules (‘blocking’)
o Institutionally weak: consensus decision-making
United - system of Collective Security
Nations - from co-existence to co-operation in reconstruction and development
 weak mandate in economic and trade-related matters

WTO LAW EXISTS NEXT TO OTHER AGREEMENTS (NOT SUPERIOR )
- In case of conflict of norms- no longer intra-trade difficulty but rather the conflict between external and internal legitimacy
- If agreement is found to violate WTO law- it doesn’t make the agreement void, then states can decide what they want to do
with it (to alter it or whatever)  All WTO does is assess issue from WTO perspective, no way to enforce certain things

Membership - Composition: states (developed, developing and least-developed countries), EU (each MS is also
WTO member separation of competences), separate customs territories possessing full
autonomy in trade relations, such as Hong Kong.

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