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FOUNDATIONS OF INTERNATIONAL ECONOMIC LAW
Transcript of FOUNDATIONS OF INTERNATIONAL ECONOMIC LAW
ECONOMIC LAW STATE'S ECONOMIC SOVEREIGNTY INTERNAL
SOVEREIGNTY a State has a permanent sovereignty over its natural resources (land, wildlife, natural resources) and over the non-natural resources or economic activities within its territorial jurisdiction, including the human resources (labor, cultural wealth, services).
a State has the inalienable right to choose and conduct its own economic system, i.e. it has the right of economic self-determination and governance
a State has the right of non-interference in its economic affairs trough the threat of use force all States are equal under International Law, all states enjoy the same level of protection under it;
all States enjoy the same capacity to acquire rights and assume obligations;
all States have an equal capacity to bring international claim and have equal standing in procedures for conflict resolution;
all States are entitled to respect and consideration before the law as States;
where there is differential treatment must be justified on relevant and objective criteria. An internal sovereignty erosion? International instruments:
"bloc" The International community charges the American’s acts as illegal and it’s asking to the US government to declare the end of this embargo. EXTRATERRITORIAL JURISDICTION
IN THE ECONOMIC SPHERE economic and legislative jurisdiction and their objectives;
extraterritorial jurisdiction and its problems;
example of extraterritorial rule. Case 2: THE US EMBARGO
AGAINST CUBA 1996
Helms-Burton Act 1962
Total Embargo 1963
Cuban Assets Control Regulation INTERNATIONAL ECONOMIC LAW (IEL) Case 1: JAPAN TAXES ON
ALCOHOLIC BEVERAGES 21 June 1995 Vodka was tax higher
based on the higher volume
of alcohol than shochu. Violation of article III,2
of the GATT (1994) VS. Canada, EU and US Japan VS. WTO DECISION Japan has to respect the article III, 2 of the GATT.
“Internal taxes on a foreign product should not be imposed in excess of those imposed on a domestic product.” RELATIONSHIP BETWEEN NATIONAL AND INTERNATIONAL ECONOMIC LAW Is multifaceted, integrationist and dynamic.
Formulation: process and substance (the formulation process involved in National foreign economic policy and pratices tend to be lacking in constitutional safeguards);
The structure of the interface between regional economic organisations (RIOs) and federal systems.
An important role of the international organisations related with formulation and substance of national foreign economic policyand practice. Nature Conception Content Goals Sources Participants IEL Three models of relationship:
MONISM: International Law prevails over domestic law;
DUALISM: domestic law overrides International law;
INTERMEDIATE POSITION: domestic law and International Law are supreme in its respective sphere.
Two main schools of thought:
The advocates of direct applicability of international economic agreements,
The case against direct applicability of international economic agreements RELATIONSHIP BETWEEN DOMESTIC LAW AND IEL Internal sovereignty External sovereignty THANK YOU FOR YOUR ATTENTION!