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Home , Trade justice

Interdisciplinary Programmes

Academic year 2020 - 2021

Regulating PROFESSOR

Joost H.B. Pauwelyn MINT155 – Spring – 6 ECTS [email protected]

Mondays 14:15-16:00, Room S8 Office hours: By appointment

Course Description ASSISTANT

Globalization has thrived especially since the 1990s but is Maria Florencia Sarmiento more recently experiencing a backlash: What is [email protected] globalization? Why is it happening? Whom does it benefit? Are rewards re-distributed? Are the benefits worth the Office hours: By appointment costs? Are economic goals, multinational corporations, and elites taking precedence over social objectives, governments, and ordinary people? Why are some fields more regulated than others? Is the end-result fair? Why is there a backlash against globalization, and what should be the response? This course is a survey course offering a critical overview of treaties, rules, and regulations at the international/transnational level, divided into two clusters: (i) regimes that aim to facilitate or promote cross-border economic activity, be it liberalizing the movement of goods, services, , labor, technology or data, and (ii) regimes that focus on mitigating or addressing the negative spillover effects of this cross-border liberalization, ranging from the protection of labor, human rights and the environment to addressing tax evasion, financial stability, sovereign debt, and competition. The course will take a practical, hands-on approach using case studies. It will discuss cross-cutting issues such as: where and how regulations are made; what form do they take; what systems are available to ensure compliance. The three cross-cutting substantive themes this year will be: (i) digitalization of the global economy, (ii) the rise of China and alternative models of capitalism, and (iii) people-focused globalization taking inclusiveness and the distributive effects of globalization seriously. The course is meant to give non-law students a solid background in international economic law enabling them to navigate legal aspects of globalization be it from the perspective of governments, international organizations, businesses, or NGOs. For law students, the course offers an opportunity to holistically and critically assess the role of international law in economic globalization.

Chemin Eugène-Rigot 2 | CP 1672 - CH-1211 Genève 1 | +41 22 908 57 00 | graduateinstitute.ch

MAISON DE LA PAIX

Syllabus

Instructions:

1. Assigned readings and background documents are available on the course Moodle page. Students MUST read all (non-optional) assignments (i.e., all those listed in column 2 “readings”, plus, for some sessions, watch certain videos) before coming to class and prepare their own, specific answers to the questions listed for each session (column 3). Session questions also indicate which aspects students should focus on when doing the readings.

2. Class participation is expected and will be included in the evaluation. All students can be called upon during class. However, for each individual session as of session 3 a different group or “panel” of students will be pre-assigned. The group of students “on panel” needs to be particularly well prepared and ready to engage, both with the readings of that session and the student presentation made. Each student will be “on panel” at least twice (once for a cluster 1 session, once for a cluster 2 session, to be chosen by each student during the first week of classes, subject to available slots, on a first-come-first-served basis). Students cannot be "on panel" for a session where they will make their oral team presentation or intend to write one of their two research/reaction papers on.

3. As of session 3, for each session, a small group of students will be tasked to orally present (in 15 min. only) a concrete case study (this could be a particular dispute or country-specific event or story, NGO or country initiative, or reform effort, IO report or press clipping) that can be used to demonstrate the basic features of the regulatory regime assigned for the session, and to highlight what the student team considers to be the regime’s key strengths, weaknesses and challenges ahead. This presentation should be based on the readings assigned for the particular session and can refer back also to the historical, legal, or theoretical frameworks discussed in sessions 1 & 2 (or the broader list of “Theoretical Framework Books/Articles” listed below). For further inspiration, and in terms of the possible challenges to the regime, students can also engage with one or more of this year’s three substantive themes: digitalization of the global economy; the rise of China and alternative models of capitalism; people-focused globalization taking inclusiveness and the distributive effects of globalization seriously. Each student team must meet with the Professor, at the latest one week before the presentation, to discuss the topic and content of the presentation. The student presentation will be preceded by a brief introduction by the Professor. After the student presentation, a structured, class-wide discussion will follow, focused on challenges ahead and options for change or reform.

4. The oral (team) presentation made by students counts toward 25% of the student’s final grade. Overall class attendance and participation, and performance by students during the two sessions where they are “on panel” count for another 25% of the final grade.

5. On the Moodle page, introductory presentations by students in the 2019 REG course as well as case study presentations by students in the 2020 REG course are posted with the corresponding PowerPoint slides. Please have a look at those to grasp the basics of each regime we will examine (2019 presentations/slides) and to see what a case study can look like and how it can be presented (2020 presentations/slides). These background videos and presentations should help you to prepare for each class session and in the preparation of your own team presentation as well as with the writing of your papers below. In 2019, students were tasked to make a general introduction to the regime in

- Page 2 - discussion; in 2020, and also this year, teams are tasked to go beyond this and present a specific case study, as discussed above.

6. In addition, each student must submit two short research/reaction papers (of maximum 2’000 words each, including footnotes) (i) building on the themes and readings of a particular session (other than a session where the student made an oral presentation or was “on panel”) with (ii) focus on a specific international organization, legal instrument, press report, case study or recently published book/article, not yet discussed in class (by either the students presenting or the professor). The paper should do so (iii) in a way that addresses one of this year’s three substantive themes: digitalization of the global economy; the rise of China and alternative models of capitalism; or people-focused globalization taking inclusiveness and the distributive effects of globalization seriously (each of the two papers must address a different theme). Each student must (iv) write one paper on a topic under cluster 1 (mobility), to be submitted before 2 April, and one paper on a topic under cluster 2 (protection), to be submitted before 4 June.

7. Papers will be assessed based on compliance with the four requirements above as well as with reference to the clarity of the argument made, how it is structured, and whether it is substantively backed-up and convincingly presented, without factual or legal inaccuracies. Papers cannot be purely descriptive: they need to make an argument, any argument, that is specific enough and elaborated/substantiated. Originality of the topic and case study will also be taken into account. The two papers count toward 50% of the student’s final grade.

8. This course will have no final exam. In summary, students are assessed based on:

(1) an oral presentation (25%), (2) class attendance, participation and being “on panel” twice (25%), and (3) two papers (50%).

Basic (Legal/Historical) Texts:

- R. Avi-Yonah, International Tax as International Law, CUP, 2007 - C. Brummer, Soft Law, and the Global Financial System, 2nd ed., CUP, 2015 - A. Chander, The Electronic Silk Road: How The Web Binds The World Together in Commerce, Yale University Press, 2013 - T. Cottier, J. Jackson, and R. Lastra, International Law in Financial Regulation and Monetary Affairs, OUP, 2012 - J. Chwieroth, Capital Ideas: The IMF and the Rise of Financial Liberalization, Princeton University Press, 2010 - R. Dolzer and C. Schreuer, Principles of International Investment Law, 2nd ed., OUP, 2012 - P.M. Dupuy and J. Viñuales, International Environmental Law, 2nd ed., CUP, 2018 - B. Eichengreen, Globalizing Capital: A History of the International Monetary System, 2nd ed., Princeton University Press, 2008 - A. Ezrachi & M. Stucke, Virtual Competition, Harvard University Press, 2016 - D. Gerber, Global Competition: Law, Markets and Globalization, OUP, 2010 - James Gathi, 2020 Grotius lecture, The Promise of International Law: A Third World View - Henner Gött (ed.), Labor Standards in International Economic Law, Springer, 2018 - F. Gurry, F. Abbott, and T. Cottier, International Intellectual Property in an Integrated World Economy, 3rd ed., Wolters Kluwer, 2015 - M. Herdegen, Principles of International Economic Law, 2nd ed., OUP, 2016 - Krieger, Peters & Kreuzer (eds.), Due Diligence in the International Legal Order, OUP, 2020 - R. Lastra, Legal Foundations of International Monetary Stability, OUP, 2006 - A. Lowenfeld, International Economic Law, 2nd ed., OUP, 2008

- Page 3 - - C. McLachlan, L. Shore, and M. Weiniger, International Investment Arbitration: Substantive Principles, 2nd ed., OUP, 2017 - J. Pauwelyn, J. Hillman and A. Guzman, International Law, 3rd ed., Wolters Kluwer, 2016 - A. Rasche, M. Morsing and J. Moon, Corporate Social Responsibility, Strategy, Communication, Governance, CUP, 2017 - S. Rose-Ackerman and B. Palifka, Corruption and Government, 2nd ed., CUP, 2016 - A. Sen, Development as Freedom, OUP, 2011 (read introduction!) - M. Sornarajah, The International Law on Foreign Investment, 4th ed., CUP, 2017 - J. Trachtman, The International Law of Economic Migration: Toward the Fourth Freedom, OUP, 2009 - M. J. Trebilcock, Advanced Introduction to Law, Edward Elgar, 2015 - J. Viñuales, Foreign Investment and the Environment in International Law, CUP, 2012 - , Governance and The Law, World Development Report 2017

Theoretical Framework Books/Articles that can be used for presentations/papers:

- Vinod Aggarwal and Cédric Dupont, ‘Collaboration and Coordination in the Global ’, 2005 - Karen Alter and Karl Raustiala, The Rise of International Regime Complexity, 14 Annual Review of Law and Social Science 329, 2018 - Kate Andrias, The New Labor Law, Yale L.J. 126, no. 1 (2016): 2-100 - Kate Andrias, Constructing Countervailing Power: Law and Organizing in an Era of Political Inequality, Yale L.J., 2020 - Atlas of Economic Complexity, Harvard - Grietje Baars, The Corporation, Law, and Capitalism, 2020 (blog discussion here) - Richard Baldwin, The Great Convergence: Information Technology and the New Globalisation, Harvard University Press, 2016 - Richard Baldwin, The Globotics Upheaval: Globalisation, Robotics, and the Future of Work, W&N, 2019 - T. Bartley, Rules Without Rights: Land, Labor, and Private Authority in the Global Economy, New York: Oxford University Press, 2018 (book review here) - R. Bregman, Utopia for Realists, How Can We Build An Ideal World, 2017 - Ha-Joon Chang, ‘Kicking Away the Ladder: the ‘Real’ History of ,’ FPIF Special Report, 2003 - BS Chimni, Towards an Integrated Marxist Approach to International Law in International Law and World Order, CUP, 2017 - James Christensen, Trade , OUP, 2017 - Harlan Cohen, ‘What is For?’, 113 American Journal of International Law 326, 2019 - S. Evenett & R. Baldwin, Revitalising Multilateralism: Pragmatic Ideas for the New WTO Director-General, e-book, Nov. 2020 - IGLP Law and Global Production Working Group, The role of law in global value chains: a research manifesto, London Review of International Law, 2016 - James Fearon, ‘Bargaining, Enforcement, and International Cooperation,’ 52 International Organization 269, 1998 - Wolfgang Friedmann, The Changing Structure of International Law, Stevens & Sons, 1964 - Richard Haas, How a World Order Ends, Foreign Affairs, Jan./Feb. 2019 - Tom Hale and David Held, Beyond Gridlock, Polity, 2017 - Amy Kapczynski, The Law of Informational Capitalism, Yale Law Journal, 2020 - J. Klabbers, The Emergence of Functionalism in International Institutional Law: Colonial Inspirations, EJIL, 2014, 645 - Barbara Koremenos, Charles Lipson and Duncan Snidal, ‘The Rational Design of International Institutions,’ 55 International Organization 761, 2001 - Larry Kramer, Beyond : Rethinking Political Economy, April 2018,

- Page 4 - - J. Linarelli, M. Salomon & M. Sornarajah, The Pathologies of International Law, OUP, 2018 - Phillip Lipscy, Renegotiating the World Order: Institutional Change in International Relations, CUP, 2017 - Carl Minzner, ‘China’s Turn Against Law,’ 59 The American Journal of Comparative Law 935, 2011 - H. Muir Watt et al., Global Private International Law: Adjudication Without Frontiers (contains excellent case studies), E. Elgar, 2019 - G. Mundlak, Organizing Matters Two Logics of Representation, ILO, 2020 - A.I. Ogus, Law and Spontaneous Order: Hayek’s Contribution to Legal Theory, Journal of Law and Society, 1989 (a video interview of Hayek by Robert Bork on this topic here) - Anne Orford, Theorizing Free Trade, Oxford Handbook of the Theory of International Law, 2016 - Kevin O’Rourke and Jeffrey Williamson, Globalization and History, The Evolution of a 19th Century Atlantic Economy, MIT Press, 1999 - Sundhya Pahuja, Decolonising International Law: Development, Economic Growth and the Politics of Universality, CUP, 2011 - Joost Pauwelyn, R. Wessel and J. Wouters, ‘When Structures Become Shackles: Stagnation and Dynamics in International Lawmaking,’ 25 European Journal of International Law 733, 2014 - Joost Pauwelyn, ‘At the Edge of Chaos? Foreign Investment Law as A Complex Adaptive System, How It Emerged and How It Can Be Reformed’, 29 ICSID Review – Foreign Investment Law Journal 372, 2014 - Joost Pauwelyn, Conflict of Norms in Public International Law - How WTO Law Relates to Other Rules of International Law, CUP, 2003 - Joost Pauwelyn, ‘The Transformation of World Trade,’ 104 Michigan Law Review 1, 2005 - Joost Pauwelyn, Optimal Protection of International Law: Navigating between European Absolutism and American Voluntarism, CUP, 2008 - Nicolás M. Perrone and David Schneiderman, ‘A Critique of International Economic Law: Depoliticization, Inequality, Precarity,’ in Emilios Christodoulidis, Ruth Dukes, and Marco Goldoni (eds), Research Handbook on Critical Legal Theory (Cheltenham, Edward Elgar 2019) - A. Phillips & J.C. Sharman, Empire: How Company-States Made the Modern World, Princeton, 2020 - Katharina Pistor, The Code of Capital: How the Law Creates Wealth and Inequality, 2019, - Thomas Pogge, ‘The Role of International Law in Reproducing Massive ,’ in Samantha Besson and John Tasioulas (eds), The of International Law, OUP, 2009 - Karl Polanyi, The Great Transformation, Beacon Press, 1944, - Eric Posner, The Perils of Global Legalism, University of Chicago Press, 2015 - Alvaro Santos, Chantal Thomas and David Trubek (eds), World Trade and Investment Law Reimagined: A Progressive Agenda for an Inclusive Globalization (New York, Anthem 2019) - Gregory Shaffer, ‘Retooling Trade Agreements for Social Inclusion’, University of Illinois Law Review, 2019 - Anne-Marie Slaughter, The Chessboard and the Web: Strategies of Connection in a Networked World, Yale University Press, 2017. See also podcast here. - Quinn Slobodian, Globalists: The End of Empire and The Birth of Neo-Liberalism, Harvard University Press, 2018. See also: Globalists Symposium here. - Dani Rodrik, Straight Talk on Trade, Ideas for a Sane World Economy, Princeton University Press, 2017 - S. Talmon, The United States under President Trump: Gravedigger of International Law, Oct. 2019 - Roberto M Unger, Free Trade Reimagined, Princeton University Press, 2010 (esp. Chapter 2) - World Economic Forum, Globalization 4.0, April 2019 - Jessica Whyte, The Morals of the Market, Human Rights and the Rise of Neoliberalism, Verso, 2019 - David Zaring, Globalized Governance of Finance, CUP, 2019

- Page 5 - - Robert Zoellick, ‘The End of the Third World? Modernizing Multilateralism for a Multipolar World’, Woodrow Wilson Center for International Scholars, 2010 (on this see also recent US submission to the WTO on developing country status) - S. Zuboff, The Age of Surveillance Capitalism, Profile Books, 2019

Useful Websites:

* Blog addressing a variety of issues related to rules of globalization, regulating globalization http://regulatingforglobalization.com/2017/11/26/welcome-to-regulating-for-globalization-blog/ * Awards and court decisions arising from investment treaty arbitrations (Andrew Newcombe) http://italaw.com/ * Fee-based resource containing detailed news on investment arbitration (Luke Eric Peterson) http://www.iareporter.com/ * UNCTAD on FDI http://investmentpolicyhub.unctad.org * Fee-based summaries and discussions on WTO jurisprudence and developments www.worldtradelaw.net * Fee-based news site on everything trade-related with a US focus www.insidetrade.com * Highly relevant academic project & blog to re-think the role of law and politics in the (global) economy, see: https://lpeblog.org/2019/04/29/announcing-the-new-law-and-political-economy-project/ https://www.politicaleconomylaw.org * Business & Human Rights Resource Centre https://www.business-humanrights.org * Blog, journal, forum focuses on the international economic law landscape as it relates to Africa and the Global South https://www.afronomicslaw.org * AJIL Unbound: regular, online symposia on topics very relevant to this course https://www.cambridge.org/core/journals/american-journal-of-international-law/ajil-unbound * ECIPE, New Globalization Project: videos & papers on post-COVID globalization https://ecipe.org/new-globalization/ * Bretton Woods Project: Critical Voices on the IMF & World Bank https://www.brettonwoodsproject.org

Course schedule:

Class Topics Readings Questions 1- John Rennie Short, - What do we actually mean with Globalization: Why There’s a the term «globalization»? History & Trends Globalization Backlash, - After watching the Planet US News, November 2016 Money T-Shirt series, and based 1 * Content & goals of 2- Baldwin and Rigo, The on the personal stories narrated, the course Changing Paradigm of what drives globalization and 22 Feb. * What is globalization Trade in the 21st Century, who benefits from it? Is garment 14:15- & why is it happening Global Challenges, 2018 production in Bangladesh or 16:00 * Historical phases of 3- Anthea Roberts, Being Colombia a curse or a blessing globalization Charged by an Elephant: for Jasmin/Doris? * Costs & benefits of A Story of Globalization - What problems/inequalities do globalization and Inequality, EJIL, 2017 you see in these stories, and * The role of law in (for latest data on world what solutions can you think of? globalization inequality, see Piketty - How does today’s globalization * “Slowbalisation” blog) compare to that of the late 19th * COVID-19’s impact century? on globalization

- Page 6 - 4- IGLP, The role of law in - What are Baldwin’s first, To put the (technical) global value chains, 2016 second, and third debate in (real-life) (read p. 57-61) “unbundlings”? context, please watch: 5- Irwin, The Pandemic - What allowed for these Planet Money Makes Adds to , unbundlings? a T-Shirt, Watch the 5 PIIE, April 2020 - Reading Roberts, in what brief videos here 6- The 36$ Trillion Bill for sense has globalization led to Neglecting Climate & Free “growing equality between Optional: trade, Bloomberg, Nov. states” and “growing inequality * Read, browse 2020 (read intro & section within states”? through, on “De-Globalization: - What is the role of law and and watch videos/visu Winners & Losers”) regulations & why is it often als in IHEID’s 2018 underestimated (read IGLP!)? issue of Global - Reading Irwin, has/will COVID- Challenges 19 slow or accelerate * Baldwin, The Great globalization? Do you agree? Convergence: - What is “Slowbalisation” and Information why may it be happening? Technology and the - Who would bear the cost of New Globalization, “slowbalisation” according to the IHEID, 2016 Bloomberg article?

1- Dani Rodrik, How Far - What is Rodrik’s trilemma? Frameworks to Will International What choice would you make? Think About Go?, - What explains the backlash Globalization & (read p. 180-5), and watch according to Rodrik? What is his 2 Backlash Against It this short video (if not solution? How is it different from familiar with the “trilemma Baldwin (see session 1)? 1 March of international finance” - What are the three narratives 14:15- Watch also these read this); optional longer on winners and losers from 16:00 videos: lecture by Rodrik here trade/globalization identified by 2- Dani Rodrik, Lamp? Which one do you find * Inside a Steel Plant Globalization After more convincing? Where do Facing Layoffs, Times COVID-19: My Plan for a they differ/overlap? Documentary, 14 min. Re-Wired Planet, June - What does each of these 2020 (optional: for a narratives mean for the reform * Saving Capitalism, similar pre-COVID critique, of international economic law? Netflix documentary see The Trouble With - Watch the steel layoffs video: by Robert Reich Globalization, Oct. 2017) What is the debate between 3- Nicolas Lamp, How Mark and John? Where do you Other optional videos Should We Think about stand? What about the situation & readings: the Winners and Losers of Jasmin and Doris (in the T- from Globalization?, 2019 Shirt series, see session 1)? To * Interview with Dani (skim to understand the what extent are the lives of Rodrik (March 2018) “three narratives”; for an these four individuals influenced * Eric Posner, The application to COVID & or affected by trade agreements Perils of Global future of globalization, see such as NAFTA, the WTO, or Legalism, 2015, same author here) the US-Colombia FTA? p. 17, para. 2 & 3 4- Giridharadas, The New - What is Giridharadas’ view on (legalism), p. 23, last Elite’s Phoney Crusade to some of the “elite solutions” para. (global legalism) Save The World, The offered above? What is his – 27, p. 28-39 (flaws Guardian, Jan. 2019 alternative? of global legalism) - According to Saving Capitalism, what is the core

- Page 7 - * Interview: Martti 5- Sandbu, Globalization problem with today’s capitalism, Koskenniemi on Need Not Mean and what can be done about it? International Law and , Aug. 2020 - What is Rodrik’s view on global the Rise of the Far 6- Eric Posner, Liberal regulation? Does it align with Right (December Internationalism and the Posner’s? 2018) Populist Backlash, Jan. - What is, in Sandbu’s view, the 2017 (read p. 1-4, 13-17) role of regulation in today’s globalization, and why may today’s globalization not be a regulatory race to the bottom but to the top?

PART I - MOBILITY: RULES LIBERALIZING CROSS-BORDER MOVEMENT

1- Baschuk, Why the WTO - How and using which Movement of Has Been Caught in principles does the WTO Goods & Services Trade-War Crossfire, liberalize the flow of goods & (I) Bloomberg, Sept. 2020 services? 3 2- Banerjee & Duflo, Good - In what ways does * Gains & pains of Economics for Hard liberalization of services differ 8 March trade Times, 2019, Chapter 3, from liberalization of goods? 14:15- * WTO institutional The Pains from Trade - Can countries keep certain 16:00 set-up & substantive (excellent overview on trade restrictions in place, and principles modern trade; skim if you under what conditions? * WTO crisis have background in trade) - How are developing countries * Trade & Africa 3-Trebilcock, Advanced treated in the WTO? * Trade defense Introduction, 10-23, 36-38 - What does the Namibia beef instruments (MFN), 105-106 story tell you about the difficulty (agriculture), 116-120 of exporting goods from Africa Watch: (services), 149-166 (health into the US / the EU? * The John Oliver & safety), 186-189 & 192- - What is the problem with intra- Show on 198 (developing countries) Africa trade? How could the international trade 4- The Economist, Why AfCFTA address this? * Let’s Talk Trade, African Farmers Struggle - What are “trade defense” Videos on WTO, to to the US, Feb. instruments such as anti- tariffs, schedules, 2020 ? Can they address MFN, etc. (try to 5- Araba, Forget About backlash against free trade? watch at least 2) Brexit, The Most Important - What is Banerjee’ & Duflo’s * How EU Keeps Trade Deal in 2021 is in assessment of the gains and Wheels of Fair Africa, Euractiv, Jan. 2021 pains of trade? How could trade Trade Turning, video 6- Compare exit remarks policy and trade agreements be on EU trade defense by Trump’s trade chief, to done differently to address their intro speech by Biden’s concerns? Optional: trade representative - What would a people’s or -UNCTAD, Trade & worker’s focused trade Development Optional: RCEP policy/agreement look like? Are Report, 2018, p. 35- * Bloomberg, Asia Pacific Lighthizer (Trump) and Tai 36, p. 40-41 Signs World’s Biggest (Biden) actually on the same (Hyperglobalization), Trade Deal, Nov. 2020 page in this respect? p. 42-43 (treaties * RCEP: A First Look at increase), p. 50-61 the Text, Asian Trade -Listen to Trade Centre, Nov. 2020 Talks Episode 27:

- Page 8 - Rodrik on What Are Trade Deals For? -Listen to Trade Talks Episode 9: GATT 70th Anniversary – Origins of Multilateral Trade 1- Blustein, China Inc., 1- - Who can submit complaints Movement of 8, 10 (from “Round One”) before the WTO? Goods & Services – 11 (up to “Out of…”), 14 - What are the different stages (II) (as of “The Decisive…”) in WTO dispute settlement? 4 and 16 - What happens if the WTO * Settlement of trade 2- Trebilcock, Advanced finds a violation, but the losing 15 March disputes in the WTO Introduction, 24-31 country refuses to implement 14:15- * Crisis of the WTO 3- USTR, Report on the the ruling? 16:00 Appellate Body & Appellate Body of the - What were the facts, responses WTO, Feb. 2020, read competing legal positions, and * Settlement of trade only intro & executive final outcome in the two China- disputes under other summary (p. 1-14) related disputes discussed by trade agreements settlement” Blustein? Why are these cases 4- Pauwelyn, WTO so controversial? Do you agree This video may help: Dispute Settlement Post with the outcome? Mike Moore, WTO 2019, read intro & - What are the challenges of dispute settlement conclusion incorporating China in the 5- Pauwelyn, The Real WTO? Listen to Trade Rot in the System: Delays, - What are the US concerns with Talks Episode 4: March 2020 blog post & WTO dispute settlement? Are Holding the WTO comments you convinced? How could US Hostage (start at 6- US-China Phase 1 concerns be addressed? min. 9:25) and/or , - Why are speed and timing so Episode 60: America carefully read only the important in WTO dispute May Be Doing Away “dispute resolution” settlement? With WTO Dispute clause: Article 7.4, paras. - How does WTO dispute Settlement 1-4 (p. 7.2-7.3) settlement operate post-2019, without an Appellate Body? Optional: Optional: - How are disputes resolved * Pauwelyn & Summaries of dispute under the US-China Phase 1 Zhang, Busier than settlement under USMCA, trade agreement? Is this Ever? A Data-Driven RCEP, AfCTA alternative workable? Assessment of WTO - How are disputes resolved Caseload, 2018 under the USMCA? If the US * Pauwelyn & can agree to this system, why is Hamilton, Exit from it blocking the WTO’s system? International Tribunals, 2018 1- Mankiw, The Trilemma - What is the international Movement of of International Finance, finance “trilemma”? What choice Capital (I) NYT 2010 did the US v. China v. Euro 2- IMF, Liberalization & countries make? 5 * Gains & pains of Management of Capital - What are benefits & risks of

free cross-border Flows (IV), 2012, read free cross-border capital flows? capital flows executive summary & - What do IMF rules/policy say paras. 56-58 (p. 29-31), on capital restrictions? How are

- Page 9 - * The link between for country-specific these IMF rules enforced 22 March capital flows, examples of capital (compared to the enforcement 14:15- exchange rates & controls see here of trade agreements)? 16:00 monetary policy 3- A. Subramanian, The - What is the “paradox” pointed (interest rates) Globalization Backlash out by Subramanian between Paradox, 2018 globalization in trade v. finance? Watch: 4- Adler and - Is the IMF/WB in need of Varoufakis, The World reform? What is the critique * Video on IMF Bank and IMF are in Crisis discussed by Varoufakis? Surveillance (The Guardian, January - How does China’s exchange 2019) rate affect US-China trade? Are * Why the Renminbi 5- Reuters, China may be countries free to set or Cannot Rival the $ the Worst Protectionist manipulate their exchange rate? Yet, FT, 2021 Ever, 2011 - In the FT video, what are the reasons given for why the There are a lot of Optional (in case you have Chinese currency is not a true good documentaries no background in finance): rival to the US$ yet? What are & movies on the * Lastra, Legal the benefits of being a “reserve 2008 financial crisis, Foundations, 372-373 currency”? watch at least one: (para. 1), 393-402 - Boom Bust Boom * Cottier et al., Monetary - The Big Short Affairs, 52-60 (Lowenfeld) - Inside Job * B. Eichengreen, - Too Big to Fail Globalizing Capital, 2008, - Capitalism: A Love p. 1-3, intro, and Story conclusion, p. 91-100, - Money for Nothing: 228-232 Inside the Fed * J. Chwieroth, Capital - Heist: Who Stole Ideas, p. 1-3, 61-66, p. 70- the American Dream 72, tables on p. 85-86

1- USA Today, Amazon’s - What are the pros & cons of Movement of second HQ, 2018 (watch FDI inflows? Capital (II) video & read intro only) - Why did US cities vie to host 2- Damjanovic & de Amazon’s second HQ while the 6 * Liberalization v. Sadeleer, EU’s Foreign EU and US are increasingly screening of foreign Investment Screening, reticent to accept Chinese FDI? 29 March direct investment Dec. 2020 - To what extent do investment 14:15- * Recent trends to 3- TikTok, Your Time is treaties liberalize the entry of 16:00 restrict v. attract FDI Up, Forbes, Dec. 2020 FDI v. protect FDI that has been * Investor-state 4- Bonnitcha et al., The admitted already? dispute settlement Political Economy of the - What does the recent China- (ISDS) Investment Treaty EU investment agreement * Critiques & reforms Regime, Ch. 1, The cover? Investment Treaty Regime - How does the international Watch/Listen to: in Context; Ch. 3, regulation of investment differ *What is an ISDS Investment Treaty from that of trade (WTO) /money Clause?, 2014 Arbitration & Ch. 4 (IMF)? *ISDS and Financial Standards of Investment - How does ISDS differ from Crises, 2014 Protection WTO dispute settlement, from *Tobacco, John 5- Strategic Implications of domestic court litigation? Oliver Show, 2015 the China-EU Investment - Where can a foreign investor (ISDS at min. 8) Deal, The Diplomat, 4 Jan. file an ISDS case? 2021

- Page 10 - *Trading Democracy, 6- IISD, Argentina Airlines - What were the facts, opposing Bill Moyers, PBS, case, 2017 legal positions and final 2002 7- IISD, Philip Morris outcome in the Argentina Cigarette Packaging Airlines case, and the Philip *Trade Talks, Ep. dispute, 2016 Morris dispute? How do they 148 (min. 1-11 on relate to investment? Why was China/EU Optional: the host state intervention investment treaty) * Buzzfeed series on condemned in one case, not in ISDS the other? Optional: * Book titled "Shadow - Why is ISDS so controversial * Pahuja, Courts" with a talk by today? What are the core Decolonising author Edwards here critiques expressed in the International Law videos? (chapters on - If given carte blanche, how resources & would you reform ISDS? Or investment) would you abolish it? * Watch The Corporation, documentary, 2012

EASTER BREAK

1- Ponczek, Epic S&P 500 - How and where is the Movement of data Rally Is Powered by movement/protection of & technology Assets You Can’t See or technology/IP made possible? Touch, Oct. 2020 (just Why does it matter? 7 * The importance of skim to get the main point) - Is data best labeled as a good know-how, IP and 2- Clark, What is IP and or service, capital or labor? 12 April technology Does China Steal It?, - What are the pros & cons of 14:15- * What is data? Bloomberg, 2018 free flows of data? 16:00 * Benefits & risks of 3- Ibarra et al, Should we - In what ways are countries data flows Treat Data as Labor?, restricting data flows? * Regulation of data 2017, or The - How is data addressed in trade flows & social media Economist, Data workers agreements? * Data restrictions & of the World Unite, 2018 - What are the concerns related free speech (read one of the two) to data flows & social media 4- OECD, Managing expounded in the Social Watch: Approaches to Data & Dilemma documentary (hint: The Social Dilemma, Data Flows, 2020 (p. 4-5, privacy is not the main one!)? Netflix documentary, p. 27-31, p. 34-38) Can regulation address them? 2020 (if no access, 5- Politico, EU Court - What is Harris’ assessment of listen to Surveillance Ruling Strikes Blow to “free” social media & its impact Capitalism and/or Transatlantic Data Flows, on humanity? What solutions TEDTalk “Want to 2020 (on EU as leader on does he offer? Work for Google? data regulation, see here) You Already Do!) 6- Trump, Twitter & The Messy Fight Over Free Check out: Speech, FT, 2020 Center for Human 7- Harris, Our Brains Are Technology No Match for Our Optional (law): Technology, NYT, 2019 * Helfer, Regime Shifting in IP, 39-43

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PART II – CONTROLS: FLANKING REGULATIONS TO ENSURE THE STABILITY & FAIRNESS OF CROSS-BORDER MOVEMENTS

1- The Conversation, How - To what extent does Movement of free movement of people international law liberalize the People & Labor could benefit Africa, 2018 movement of people/labor? Protection 2- Santos, A North- Why, why not? 8 American Integration that - Can liberalization of trade in * Limited movement Includes the People, 2020 goods & services achieve the 19 April of people 3- Pelc, China Should Ask same result as liberalization in 14:15- * Tele-migration US To Protect US labor? How do the two relate? 16:00 * Protecting workers Workers, The Hill, 2019 - Watching Baldwin, in what in “rich” countries 4- Kasperkevic, Rana ways may current migration from the “pains” of Plaza Collapse, The restrictions soon be overcome? free trade Guardian, May 2016 What would that mean for skilled * Protecting workers 5- Santos, Reimagining workers? in “poor” countries Trade Agreements for - Reading Pelc, what does the against worker Workers: Lessons from US do to compensate US exploitation the USMCA, AJIL workers losing their job because * Labor provisions in Unbound Dec. 2019 of imports/trade? And why trade agreements 6- K. Claussen, should China want that the US Reimagining Trade-Plus protects these US workers? Watch/listen to: Compliance: The Labor - What does globalization mean 1. Baldwin’s Story, JIEL, March 2020 for workers in “poor” countries? TEDTalk: Why Will (focus on the Guatemala Do they gain/lose? How can Future Globalization case and its lessons: p. they be protected against Be So Different? 25-26, 33-36, 39-43) exploitation (see Rana Plaza) 2. Trade Talks 7- Hogan Lovells, - How do trade agreements Episode 113: USMCA’s Rapid address labor? What is the Tweaked USMCA Response Labour lesson from the US/Guatemala 3. Trade Talks Ep. Mechanism, Feb. 2020 labor dispute under CAFTA? 148, min. 19-25 8- The Economist, How - What is novel in the USMCA (China Forced Trade Is Being Used to when it comes to labor? Is it Labor) Enforce Labor Standards, enough to address labor 2020 concerns? Optional: 9- Rodrik, Europe’s China - How are imports of products * Trachtman, Gambit, 2021 made with forced labor dealt Economic Migration, with in the US (see cotton from p. 1-2, 33 - 35, 53, Optional: China)? What does the EU do in 59 - 63 * J. Pauwelyn, Is this respect, e.g. in its * Hendrickx et al., Globalization Finally Re- investment agreement with Architecture of Balancing? Novel Ways of China? Global Labor Levelling the Playing Field - What is Rodrik’s view on the Governance, 339- for Labour, ILO100, 2019 EU’s approach to China? 352 (published version here, p. * Peters, Open 647-659) Trade, Closed Borders, 2014

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9 International Tax 1- The Economist, - Why is there a need for 26 April Overhaul Tax for the 21st international cooperation on 14:15- * Taxation to re- Century, 2018 tax? What is the link between 16:00 distribute the gains 2- Action Aid, Mistreated, trade/investment and tax? of globalization p. 1-5 - What is the institutional set-up * Corporate tax and 3- Google Wins Tax Case of the international tax regime v. tax avoidance in France, NYT 2017 the international trade/financial * Impact of bilateral 4- Mason, The regime? tax treaties on Transformation of - Why is the 20th century tax developing countries International Tax, AJIL regime outdated, what is driving * Tax in the digital 2020, p. 353-358 (up to S. change? economy 2), 370-2, 401-402 - What is BEPS and why is the * Reform of the 5- Heath, Divides over OECD club of rich countries in global tax regime Global Tech tax Deepen, charge of BEPS? Would the UN (OECD/BEPS) Politico, 2020 be a better forum for reform? 6- Forbes, Who Will Pay - What is double non-taxation? Watch these videos Apple’s EU Tax Bill?, 2016 Why is it a problem? * Stealing Africa, 7- Reuters, Supreme - What is transfer pricing and (Glencore & Zambia Court Lets States Force why does it hurt Gambia in the copper mines) Online Retailers to Collect Stealing Africa video? * OECD, Tackling Sales Tax, 2018 - What could be done to provide Tax Avoidance & (read up to « Defend Main developing countries a “fairer” Evasion Street ») share of global tax revenues? * Double Irish Dutch - What are the challenges with Sandwich tax in a global digital economy? - How can (tech) companies Optional readings: exploit transfer pricing (e.g. * Grinberg & through the Double Irish Dutch Pauwelyn, The New Sandwich)? International Tax - On what basis did French tax Regime, ASIL 2015 authorities claim more taxes * G. Zucman, Taxing from Google (and why did they MNCs in 21st century fail)? Compare to why Apple is * Stiglitz, The said to owe 13 b$ in Ireland? Starving State, - What is France trying to do Foreign Affairs, 2020 with its digital tax of 3%? Why is Grinberg critical of its approach? Optional videos: - In what way did the US * OECD on BEPS Supreme Court address tax & e- * OECD on commerce? Compare that case Multilateral Tax to the French court’s decision in Treaty the Google case.

Financial 1- Zaring, Globalized - Why is international regulation Regulation & Governance of Finance, of finance needed? How does it Sovereign Debt intro, p. 1-3 relate to globalization? 10 2- Brummer, How - What is the normative and * Rules to ensure International Financial Law institutional set-up of 3 May global financial Works, 259-268, 273 (S. international financial law? How 14:15- stability II) - 281 (para. 2), optional: does it compare to trade, 16:00 Money laundering, 295 – investment, and tax? 300 (up to “C”)

- Page 13 - * Development, 3- Gelpern, Sovereign - Why is trade focused on hard government debt & Debt: Now What?, 45-51 law, finance on soft law? Is one default (up to “A…”), 69-73 better than the other? (Argentina) - What happens if a country can Revisit the session 5 4- Solomon, Fight Over no longer pay its debt? Can it documentaries & Argentina’s Debt (New declare bankruptcy? movies on the 2008 York Times, February - What happened when financial crisis! 2016), Argentina defaulted on its 5- Bolton et al., How To bonds? How did “vulture funds” Optional: Prevent a Sovereign Debt nonetheless get paid? * Buchheit et al., Disaster, Foreign Affairs, - What are collective actions How To Restructure 2020 clauses (CAC) and how could Sovereign Debt?, 6- FT, US Development they facilitate debt restructuring? 2019 Bank Strikes Deal to Help - How does COVID impact * Guzman and Ecuador Pay China Loans, sovereign debt esp. of LDCs? Stiglitz, Creating a 2020 What solutions do Bolton et al. Framework for propose? Sovereign Debt - Why did US, in FT story, agree Restructuring that to repay some of Ecuador’s Works debt? * Hinrichsen, Iraq Sovereign Debt Restructuring, 2020 (good case study) 1- Fox, Antitrust Without - How could anti-trust law be an Anti-Trust / Borders, 2015, read p. 1-5 instrument to make globalization Competition 2- Khan, Amazon’s Anti- fairer? What can anti-trust law Trust Paradox, 2017, read do for developing countries? 11 * Safeguarding p. 710, 716-7, 790, 797, - How & where are cross-border competition to 802-5 antitrust issues regulated? 10 May protect consumers & 3- US Congressional - Why is traditional US anti-trust 14:15- markets Committee, Investigation law unfit to address dominance 16:00 * Competition & of Competition in Digital of a company like Amazon? development Markets, 2020, p. 10 What solutions does Khan * Anti-trust in a (findings) – 15 (Facebook, propose? What are the digital age Google), 20-21 recommendations in the US (recommendations), for congressional report? Watch: the latest move by the US - What is the core difference * The History of (US) against Google see here between US anti-trust and EU Anti-Trust Law video 4- FT, EU Has Been Too competition law? * Why Is Slow to Tame Big Tech, - How is the EU approaching the Competition Policy 2020 (for a summary of challenges of competition in Important for the now released Digital digital markets? Consumers, video Services Act, see here) - What are US complaints when * How do you 5- Reuters, China Antitrust it comes to competition enforce anti-trust law Proposals, 2016 enforcement in China? in a global market 6- Sunstein, A New View - What is Sunstein’s workers’ place, video of Anti-Trust Law That approach to anti-trust? Favors Workers, 2018 Optional: * Primer on (EU) Competition Law

- Page 14 - - In the FT video, what is meant Protection of the 1. Morris, Brexit: What Is A with “what you consume is more 12 Environment & Level Playing Field?, 2020 important than where it is from”? 17 May Climate Change (and read the actual text of - What is the idea of ensuring an 14:15- the LPF mechanism here: (environmental) “level playing 16:00 * Ensuring minimum Art. 9.4, para. 1-3, on p. field” (LPF) between the UK & environmental 230-1) EU post Brexit? What is the standards 2. FT, The Carbon Tax precise mechanism in the * Level playing field That Brussels Hopes Will agreement to keep this mechanisms Catch on, 2021 (read only “balance”? How does it respect * Carbon border section on “An incremental UK sovereignty whilst protecting adjustment way to save the planet”) the EU ? * Legality 3. Bartley, Rules Without - How does the Brexit LPF requirements for Rights, p. 263-273, 278- mechanism differ from the labor imports 283 provisions in the USMCA 4. EIA, US Blocks (session 8 above)? Watch this video Peruvian Illegal Timber - What is carbon leakage and first: Exporter, July 2019 why the call for a carbon * Trade & The 5. Malkawi & Kazmi, price/adjustment on imports? Environment, Why USMCA Environmental - Would such “carbon border It’s Not All About Air Provisions, 2020 adjustment” be in line with WTO Miles, FT, 2020 6. Weyler, The End of rules? How does it compare to Infinite Growth, the Brexit LPF mechanism? Optional: Greenpeace - What does Bartley mean with * Movie on Chevron “place-conscious” transnational in Ecuador: Crude governance and “legality * TEDTalk focusing requirements” for e.g. timber on environmental imports? How does this differ impact of garment from Brexit’s LPF mechanism / industry labor/environmental provisions * Weiss, Voluntary in USMCA? Commitments, 2014 - Can environmental commitments ever suffice, or does the economic system itself need to change (see Weyler)? 1- Mbachu, Shell in Business & Human Nigeria, Bloomberg 2017 - Based on the Shell story, Rights 2- The East African, NGOs which rules/courts could/should File Suit Against Total address alleged abuses by Shell 13 * Various ways to Over Uganda Oil Project, in Nigeria? hold multinational 2019 - What is unique about the 24 May corporations 3- Read at least one of the lawsuit against Total in relation 14:15- accountable for country reports below: to its activities in Uganda? 16:00 human rights ** Hogan Lovells, France’s - What is different about national violations abroad Due Diligence Law, 2017 due diligence laws as compared * Domestic courts in ** Volterra, Increased to traditional human rights host v. home states Business and Human obligations? What are the pros * Due diligence Rights Risks for & cons of this approach? obligations under Companies in the - Why is the UN working on a national & Netherlands, Sept. 2020 “legally binding treaty” on international law ** Swissinfo, Responsible business & human rights? What * Human rights & Business Initiative would this add to what is already arbitration Rejected at the Ballot Box, there? Do you think it is a good Nov. 2020 (for a video on idea?

- Page 15 - the proposal, see Deloitte, - How did labor unions succeed Optional: here) in suing fashion brands before * More on the ** FT, EU Seeks to Turn the Permanent Court of French due diligence Multinationals into Labor Arbitration? law (in French!), Rights Enforcers, 2020 - How does the OECD get FranceInfo video, (read only “Brussels to involved in business & human 2018 Corporations: Clean Up rights? Do National Contact * ASIL Panel, Your Supply Chains”) Points work to redress human Protecting Human 4- Ratner, Intro on rights violations effectively? Rights through Symposium on Business & - How can a Swiss NGO International Human Rights, June 2020 challenge the human rights Adjudication, 2020, (latest on Draft UN Treaty compliance of building a pipeline min. 16-31, Penny on Business & Human in the US (see Credit Suisse Venetis (suing Rights here) case)? corporations before 5- Reuters, Fashion US courts), min. 40- Brands in International 48, Toby Landau Arbitration, 2017 (cases (human rights in were settled, here) investor-state 6- OECD, MNC Guidelines arbitration) & Contact Points, 2016 review, 11-18 7- Swiss NCP, Credit Suisse case, Initial Assessment, 2017 (final assessment 2019, here) (skim to get the basics)

Economic 1- Rachman, Beware the - What is extraterritorial law v. Sanctions and Long Arm of American and international rule of law in Export Controls Chinese Law, FT, 2020 Rachman’s story? 14 2- The Economist, Zap! - What are the possible reasons 31 May * National security & American Officials Can to impose ? 14:15- globalization Destroy Foreign Firms Compare the practices of the 16:00 * China-US trade, Like Gremlins on a US, China, and the EU. How are tech & geopolitical Screen, 2018 developing countries affected? tensions 3- Ruys & Ryngaert, - What are secondary * Secondary Secondary Sanctions, sanctions? Are they in line with sanctions & Permissibility under the international law? How do Ruys international law Law of Jurisdiction, 2020 & Ryngaert distinguish access * Effectiveness of 4- Inside US Trade, China restrictions from penalties? sanctions Escalates Tensions with - Are sanctions effective? Can Blocking Statute, 2021 they be circumvented? What is Watch/Listen to: 5- Dendrinou and the risk for the US to use the * TED Talk By Prof. Chrysoloras, EU, China, sanction instrument too often? Graham Allison, Is Russia Defy Trump With - What are Fishman’s War Between the Plan to Keep Trading With recommendations to fix US US and China Iran, Bloomberg, 2018 sanctions policy? Inevitable? 2018 6- Fishman, How to Fix - What have the EU and China * Trade Talks, Ep. America’s Failing done in the face of renewed US 146 Semiconductors Sanctions Policy, 2020 (secondary) sanctions? Will this & US Export Bans: 7- Newman and Nexon, If “blocking legislation” work? From Huawei to US Does not Make the - How should the US use SMIC, 2020 Rules, China Will: Using sanctions “for good” according US Market Power for to Newman?

- Page 16 - Optional: Good, Foreign Policy, - What is at the heart of the * Roberts et al., The 2019 geopolitical tensions between Geoeconomic World China and the US according to Order, 2018 Allison? Will it lead to actual * US Export Controls war? & Economic - What does the revival of Sanctions Primer sanctions and national security * CNAS, America’s concerns mean for the future of Use of Coercive globalization/international Economic Statecraft, economic law? 2020 * European Council on Foreign Relations, Meeting the Challenge of Secondary Sanctions, 2019

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