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favours openness to trade at an early stage of development, while an autocrat complying with the preferences of capitalists … chooses to shelter the economy from trade. The trade regime interacts with economic institutions, and with policies on capital … economy attractive to foreign investors. Allowing for trade and foreign capital inflows are thus complementary policies that …
Persistent link: https://www.econbiz.de/10011734484
Decisions by arbitral tribunals in investment treaty cases do not have formal precedential status. Yet certain issues recur, and prior decisions at the least provide guidance to later tribunals. The content of the most frequently invoked substantive treaty provisions - the obligations to accord...
Persistent link: https://www.econbiz.de/10012722319
This paper surveys existing measures of economic openness understood as the degree to which non-domestic actors can or do participate in a domestic economy. We introduce a typology of openness indicators, which distinguishes between "real" and "financial" openness as well as between "de facto"...
Persistent link: https://www.econbiz.de/10011889295
Acquiring assets on a worldwide scale is strategically important for any country's fruitful implementation of plans for manifold growth and development. It is essential for energy security and sufficiency. With the widespread scarcity of oil sources in the non-OPEC countries acquisition of oil...
Persistent link: https://www.econbiz.de/10013112610
commodities are nondescript: potato chips are no worse than computer chips when it comes to trade and growth …
Persistent link: https://www.econbiz.de/10014157619
Keynesian era second globalization were driven by gains from trade, and those gains increased industrialized country real wages …. Trade theory does not explain the third globalization; capital's share has increased at the expense of labor's; and there …
Persistent link: https://www.econbiz.de/10011924811
While the renegotiation of the North American Free Trade Agreement has received far more attention, a lesser-known U ….S. trade deal has also been reworked. In April of 2017, President Trump proclaimed his displeasure with the Korea-U.S. Free … Trade Agreement (commonly referred to as “KORUS”), stating, “It was a Hillary Clinton disaster, a deal that should’ve never …
Persistent link: https://www.econbiz.de/10014102809
trade rests upon errors, or, if you prefer, upon half-truths.”1 Ever since Adam Smith successfully replaced mercantilist … orthodoxy with free trade doctrine in his celebrated book The Wealth of Nations, free trade critics have repeatedly challenged … the doctrine, offering half-truths to bolster their case. In each instance, free trade advocates have successfully exposed …
Persistent link: https://www.econbiz.de/10012846238
The panel and the Appellate Body have recently examined one of the national tobacco control measures (US – Measures Affecting the Productions and Sale of Clove Cigarettes). The dispute, which emerged between the United States and Indonesia, concerned the US ban on the use of certain flavouring...
Persistent link: https://www.econbiz.de/10013103940
The backlash against the expansive interpretation of key disciplines of international investment law by arbitral tribunals has prompted a host of strategies, implemented mostly by developing countries, aimed at walking away from the system. These range from denouncing the ICSID Convention and...
Persistent link: https://www.econbiz.de/10013103998