LW384 International Economic Law Assignment Example Maynooth University Ireland

The globalized economy is an integral part of our lives, affecting everything from trade to finance. We all depend on this system for goods and services that are available worldwide because it connects people (as producers, consumers, investors, and employees) across borders through their various transactions with each other; both the benefits as well as harms come along their way too! This module will help you understand the international legal frameworks and institutions that underpin, support, or govern this global economy. You will learn how it works in political, economic, and historical contexts as well as an introduction to procedures for conducting business around the globe without incurring any legal risks!

The World Trade Organization (WTO) is an international organization that regulates trade between countries; it is the only entity with global competence in this field. WTO oversees agreements on how nations should conduct business, including trading of goods and services, as well as intellectual property rights like patents, trademarks, copyright, etc. The trade regime has come under attack in recent years, from both cosmopolitans and nationalists. But why? We will explore the reasons for this challenge to find out if there are any weaknesses that can be exploited or fixed with targeted reforms. We will explore how international economic law balances the need for stability, predictability, and consistency in a globalized economy with respect for state autonomy.

Topics Covered In International Economic Law (LW384) assignment example Ireland

This section of the assignment sample highlights some areas that might be relevant to you. Topics discussed in this course include:

• The history and theory of trade liberalization;
• The WTO’s organizational structure, negotiation, and dispute settlement mechanisms;
• Core disciplines on border measures and discrimination;
• Balancing trade liberalization and legitimate regulatory purposes including public health, labor rights, and environmental protection;
• The relationship between trade, law, and economic development;
• WTO rules on subsidies, anti-dumping, and safeguards;
• Regulating trade in services and intellectual property;
• The relationship between multilateral and regional trade regimes.

Learning Outcomes of International Economic Law (LW384)

On successful completion of the module, students should be able to:

Explain and critically assess the history, structure, and operation of the WTO and its substantive and procedural rules

The World Trade Organization was founded in 1995 to promote “open, transparent and nondiscriminatory trade” around the world. It works with 164 countries that are part of its membership by creating fair rules for all member nations through negotiations on various topics including tariffs (taxes), quotas or subsidies; foreign investment protection agreements between governments – which regulate what kind of companies can do within their borders when it comes to buying another company’s assets like plants or machinery, etc.; anti-dumping investigations into whether certain imported products have been priced below cost-value so as not allow them to compete fairly against locally made items at market price levels.

The WTO ensures that all members play by the same rules. Those who break the rules are held accountable and sometimes face economic sanctions if they do not comply with WTO’s decisions.

To achieve its goals, each member submits any trade disputes with another member nation to an impartial panel of judges at the Dispute Settlement Body (DSB). The judges then review the facts of each case and apply relevant rules (WTO Agreements, national treatment agreements, market access commitments, terms of international treaties between member nations, etc.).

Explain how WTO rules and institutions fit within their political, economic, and historical context, with particular reference to the functions they play and the trade-offs they express

The WTO is an international organization that was created to regulate trade between countries. Its goal is to promote open, transparent, and nondiscriminatory trade around the world. The WTO operates on different levels like gathering market information; assessing the impact of membership rules; developing new rules; settling disputes if some member states do not comply with WTO’s decisions; interacting with other international organizations and institutions, etc. In order for the WTO to work properly, it requires all member states to have a common goal or vision of what it is trying to achieve as well as mutual trust among those in power in each nation.

The organization functions through a representative system that is based on consensus between its member countries. All decisions taken at the WTO are made through negotiations which are meant to lead to an agreement among the majority of its members.

• The World Trade Organization is sometimes compared to a court because it deals with resolving trade disputes between member states. But unlike courts, the WTO is not involved in enforcing its rules (it only has moral authority) and does not punish violators. The WTO can only impose economic sanctions (e.g., increasing tariffs on imported goods) against countries that do not follow the rules; it cannot lay criminal penalties or force nations to pay fines.
• Many agreements at the WTO are also decided by consensus when two-thirds of its participants agree to implement them in their markets.
• The WTO recognizes that developing countries need time before they are ready to open their markets. That is why most trade agreements set a timetable for liberalization that automatically gets extended if there is no agreement among the members. Developing countries also have special rights to protect “sensitive products” from international competition, which are mostly agricultural goods.
• As an international organization, the WTO provides a platform for its members to discuss, negotiate and collaborate on shared economic problems. Like any other international body it has achieved some success over time but not without creating significant trade-offs along the way. For example, most member states have agreed that transparency is important so they publish most official documents online. However, not all members have agreed to keep their negotiations private and they continue to conduct them in secret.
• And finally, we need to point out that most WTO agreements are based on the idea of reciprocity. If trade restrictions are reduced or eliminated for one country, they must be removed or reduced for others as well.

Analyze specific cases (real or hypothetical) by applying relevant WTO rules, and advise on the implications of those rules and associated remedies in particular circumstances

In some cases, the trade rules leave a lot of room for interpretation. In those cases, experts from different countries and legal backgrounds need to work together on how to interpret these rules in a way that is not against their own country’s interest but at the same time does not violate any agreements.

For example: If a new technology significantly improves productivity in a certain industry, this would allow the country to produce more products at a lower cost. But since there is no special provision for developing countries to protect some industries from such changes, developed trade partners argue that the new production method should be banned because it would put some of their companies out of business.

The WTO allows exceptions to its rules if it is in the “general interest of members.” However, experts disagree on what kind of situations fall under that category.

Specific examples include: – The Trans-Pacific Partnership (TPP) sought to establish an international tribunal that would arbitrate disputes between member states and private corporations. But many developing countries felt like this could be biased against them and would undermine their ability to regulate foreign investment. The United States eventually withdrew from the TPP so this provision never became a reality. But critics of independent trade tribunals worry that a similar tribunal could be established at the WTO in the future.

Explain the practical significance of WTO disciplines for several specific issues including environmental protection and economic development

WTO agreements require all members to abide by their environmental laws. For example, if one country decides to ban the cosmetics industry until better cosmetics testing methods are developed, other countries cannot force them to change their policies because they can’t claim that this is against trade rules.

However, the way different countries interpret their responsibilities under these agreements may vary. Some may not consider environmental protection as a priority, especially if it does not affect the bottom line of their companies.

When trade rules and national laws come into conflict, WTO agreements allow member states to take protective measures (also referred to as “trade remedies”) such as anti-dumping or countervailing duties against exports from another country. While such measures are allowed if the volume of exports causes “serious injury” to a domestic industry, it is often challenging for member states to prove that this is the case. And if one country complains about these trade remedies in another jurisdiction, there needs to be evidence that this measure was developed in an unbiased and consistent way.

Use both clear and eloquent written language and clear and confident oral presentation to communicate analysis and advocacy points

The WTO deals with a wide array of issues – some very technical, some more straightforward. While the rules are also complicated, there is usually an easy way to explain them to people who do not know about trade agreements. All cases require the ability to simplify complex topics so they can be explained in understandable terms and advocate for specific points of view.

Businesses can also find it challenging to properly evaluate the impact of new initiatives. This is why problems that seem straightforward at first sight may turn out to be more complex than they appear. For example, many businesses are concerned about the potential economic impact of Brexit on their companies because they need access to European markets. However, since there are different kinds of agreements with different countries, simply leaving the European Union is not enough to prevent them from doing business there. This means that firms need to pay close attention to how Brexit will impact each type of agreement they have with the United Kingdom and its trading partners.

Use a variety of legal and non-legal secondary literature and other media to support analysis and advocacy points

Businesses need to be able to read and understand what is happening at the WTO. If they are not familiar with the rules themselves, they will have problems understanding counterarguments. This is why it is essential for businesses to keep up-to-date with international trade news so they can anticipate how legal issues might impact their companies. Even if they do not have to deal with national or international trade issues, businesses can benefit from reading about the current situation at the WTO. For example, some governments may try to develop new policies that will affect their industries.

Businesses also need to keep an eye on political changes around the world – especially if they are planning on expanding globally. Knowing what is happening at the WTO helps businesses make better business decisions. Although the WTO is not responsible for drafting laws, it provides information on what different members are doing to implement their regulations. For example, if a country enacts controversial policies (such as increased import tariffs or anti-dumping penalties) that may affect a particular industry, this will show up in the WTO’s records.

Furthermore, many countries have national trade associations that help their members build connections and stay up-to-date on what is going on locally. Attending events hosted by industry groups helps businesses learn about upcoming legal changes early. Meeting others working in similar industries can also lead to sharing research and ideas for possible business strategies.

The WTO is an international organization with many branch offices around the world. Members maintain permanent missions to communicate regularly with headquarters in Geneva and try to develop consensus.

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