Chapter 1 Introduction 1
1. Objectives and Background 1
1.1. Trading Locally， Internationally and Globally 2
1.2. Portrayals and Perceptions of Globalization 4
1.3. Descriptions and Manifestations of Globalization 5
1.3.1. Globalization as an Economic Phenomenon 6
1.3.2. Globalization as a Social Phenomenon 6
1.3.3. Globalization as a Political Phenomenon 7
1.3.4. Globalization as a Legal Phenomenon 7
1.4. Theory and Ideology in Globalization 10
1.5. The Relationship between Globalization and Neo-liberalism 12
2. Principles and Practices in Globalization 13
2.1. The ‘Washington Consensus’ 13
2.2. Removing Barriers to Economic Liberalization 15
2.3. Globalization in Trade and Finance 17
3. Trends in Globalization Practice 21
3.1. Changing Modes of Manufacturing 22
3.2. Trading ‘Internationally’ within Corporations 23
3.3. The Offshoring of Services 25
3.4. Privatization of State Assets and Services 26
3.5. Globalization and the Corporation 29
3.6. The Rise of Foreign Debt 32
4. Evaluating Globalization 33
4.1. The Irreversibility of Globalization？ 37
5. Law and Regulation in a Globalization Context 38
5.1. The Changing Nature of Law 39
5.2. Formal Law， Informal Law and Normative Statements 42
5.3. The Changing Functions of Law 44
5.4. Law and Territoriality 45
5.5. Regulation 47
5.6. Sources of Globalization Law 49
5.7. Unlawfulness in Globalization 50
6. Other Introductory Concepts 52
Chapter 2 The Laws of the Market System 55
1. The Market System 55
1.1. Introduction 55
1.2. Basic Concepts in Market Economics 59
1.3. Exceptions to Market Principles 62
1.4. Markets， Fairness and Justice 65
2. The Market System and the Law 68
2.1. Economics and Law 68
2.2. The ‘Laws’ of the Market 70
2.3. The Markets and Regulation 73
3. The Legal Framework of the Market 74
3.1. Contract Law 75
3.2. Property Law 76
3.3. Laws on Business Associations 79
3.4. Other Legal Requirements of the Market System 82
3.5. The Market， Private Law and Public Law 84
4. Extending the Market Globally 85
4.1. The Law of Comparative Advantage 86
4.2. Extending Law Globally 90
5. Dispute Resolution and the Market 92
5.1. Informal Dispute Resolution Arrangements 92
5.2. Alternative Dispute Resolution Options 93
5.3. State-Based Dispute Resolution Systems 94
5.4. Extending Dispute Resolution Globally 95
6. Conclusion 97
Chapter 3 National Law and Globalization 99
1. Globalization and the State 100
1.1. The Changing Nature of State Systems 100
1.2. The Weakening of State Systems 102
1.3. The Resilience of State Systems 106
1.4. The Operation of State Systems 108
2. Domestic Law that Facilitates Globalization 109
2.1. Policy Responses to Globalization Imperatives 111
2.2. Harmonization and Unification of Domestic Laws 112
2.3. Reduction of Import and Export Barriers 114
2.4. Investment Pressures and Their Domestic Legal Impacts 116
2.5. Domestic Laws Required by International Institutions 117
2.6. Recognition of International Economic Law by Domestic Courts 119
2.7. New Economic Arrangements 120
2.8. Domestic Law Counteracting Globalization 122
3. Case Study on Domestic Law and Globalization 123
3.1. General Influence of International Law 123
3.2. Policy Responses to Economic Forces 124
3.3. Legislative Responses to Globalization Imperatives 126
4. Domestic Dispute Resolution Supporting Globalization 129
5. The Changing Nature of Domestic Economic Law 130
6. Conclusion 133
Chapter 4 Globalization and the International Law of Treaties 135
1. The Nature of Treaty Law 137
1.1. Treaty Law and the Vienna Convention 137
1.2. Treaty Interpretation 141
1.3. Performance of Treaty Obligations 143
1.4. Treaty Termination 144
1.5. Treaties as a Source of Globalization Law 146
1.6. Other International Agreements 148
2. International Law on Trade and Investment 149
2.1. Principles Emanating from International Trade Treaties 149
2.2. Treaties on Trade and Investment 151
2.3. The Relationship between International Law and Trade Law 152
2.4. Treaty Requirements for Domestic Regulation and Deregulation 156
3. Case Illustrations of International Treaty Law 158
3.1. General Treaty Law 158
3.2. Trade Treaties： Law and Practice 160
4. Regional and Bilateral Treaties 162
4.1. Regional Trade Agreements 162
4.2. Bilateral Trade and Investment Agreements 164
4.3. The Implications of Regionalism and Bilateralism 165
4.4. Australia and Bilateralism 167
5. Dispute Resolution under International Treaties 169
6. Conclusion 173
Chapter 5 The Laws of International Organizations 175
1. International Economic Organizations 175
1.1. The World Bank 176
1.2. The International Monetary Fund 180
2. The World Trade Organization 182
2.1. Background 182
2.2. Emergence and Scope of the WTO 183
2.3. WTO Structures 184
2.4. WTO Functions 185
2.5. The WTO and Principles of Economic Globalization 188
2.6. The WTO and Economic Development 190
2.7. Sources of WTO Law 194
3. Dispute Resolution through Global Institutions 194
3.1. Introduction 194
3.2. Background to WTO Dispute Resolution Systems 196
3.3. Initiating Complaints 198
3.4. The Panel System 199
3.5. The Appellate Body 203
3.6. Approaches to Decision-Making 204
3.7. Remedies under the DSU 207
3.8. Implementation and Compliance in the DSU 209
3.9. The DSU in Practice 211
3.10. Balancing Competing Policies through the DSU 214
3.11. Other International Organizations 216
4. Governance and Regulation by International Organizations 219
4.1. Governance Functions 219
4.2. Policy Instruments of Governance 220
4.3. Global Governance and National Sovereignty 221
4.4. Industry and Corporate Governance 223
4.5. Case Illustration of Interacting Governance Systems 224
5. Conclusion 227
Chapter 6 Globalization Opposition and Alternatives 229
1. Opposition to Globalization 229
1.1. The Voices of Opposition 229
1.2. The Persistence of the Local 233
2. Grounds of Opposition and Resistance 234
2.1. Value Differences 234
2.2. Critiques of the Market System 237
2.3. Loss of Autonomy and Self-Sufficiency 240
2.4. Financial Globalization and the Debt Legacy 241
2.5. Globalization’s ‘Failed Cases’ 243
2.6. Successes Outside of Globalization 247
2.7. Implications for Society 249
2.8. Environmental Concerns 251
2.9. Distributive Justice and Human Rights 253
2.10. Countering the Criticisms 256
3. Strategic Responses to Globalization 258
3.1. Seeking Inclusion in the System 258
3.2. Using Law Defensively 261
3.3. Using Law Assertively 262
3.4. Investment， Shareholder and Consumer Activism 267
4. Targets of Resistance and Opposition 271
4.1. Resistance to Trade Treaties 271
4.2. Resistance to Privatization and User-Pay Systems 274
4.3. Challenging Intellectual Property Regimes 279
4.4. Globalization in People Movement 281
4.5. Resistance to Cultural Dominance 283
4.6. Security Restrictions on Trade 285
5. Alternative Approaches to Globalization 287
5.1. Linkages to Society 287
5.2. Alternative Forms of Free Trade 288
5.3. Linking Trade to Growth and Development 290
5.4. Entertaining Gradualism and Pluralism 291
6. Conclusion 293
Chapter 7 Emerging Law and Governance in the Global Economy 295
1. Elaborations of Existing Institutions 297
1.1. The Constitutionalization of the WTO 297
1.2. Reforms in the IMF and World Bank 299
1.3. Developing Global Banking Supervision and Regulation 302
1.4. Increasing WTO Involvement in Investment Regulation 305
2. Prospective Global Institutions and Procedures 307
2.1. Capital Markets Regulation 307
2.2. Global Reserve System Reform 308
2.3. Establishing a Global Lender of Last Resort 311
2.4. International Bankruptcy Forum Options 312
2.5. Developing Global Tax Regulation 315
2.6. Enhancing Global Competition Law and Anti-Monopoly Regulation 317
2.7. Promoting Global Trade in Services 322
3. Contemporary Challenges to Economic Globalization Norms 323
3.1. Addressing the Democratic Deficit 323
3.2. The Challenge from Climate Change and Environmental Norms 325
3.3. The Global Economic Crisis 331
3.4. Other Trade-Challenging Norms 335
4. Emerging Collaboration in Global Governance 336
5. Conclusion 339
Chapter 8 Globalization and the Rule of Law 341
1. Defining Features of the Rule of Law 343
1.1. Definitional and Structural Features 343
1.2. The Rule of Law’s Procedural and Substantive Values 344
1.3. Access to Courts and Judicial Remedies 345
1.4. Citizenship， Rights and the Rule of Law 347
2. The Rule of Law in Contemporary Globalization 348
2.1. The Changing State and the Challenge of Corporations 348
2.2. The Changing Nature of Law and Law Institutions 349
2.3. Procedural and Substantive Rule of Law Values 352
2.4. Access to Courts and Judicial Remedies 355
2.5. The Accountability of Other Global Actors 358
2.6. Citizenship， Rights and the Global Rule of Law 360
3. Developing a Global Rule of Law 363
3.1. Identifying the Law in Globalization 363
3.2. Resolving Norm Inconsistencies in Economic Laws 364
3.3. Institutional Requirements for a Globalized Rule of Law 370
3.4. Procedural and Substantive Requirements of the Rule of Law 372
3.5. Enforcement Requirements of the Rule of Law 373
3.6. Other Rule of Law Values 377
4. Functions for a Global Rule of Law 379
4.1. The Rule of Law and Pluralism 379
4.2. The Rule of Law and the Preservation of State Systems 386
4.3. The Rule of Law， Citizenship and Human Rights 387
4.4. Re-conceptualizing the Rule of Law for the Corporate System 388
4.5. The WTO and the Rule of Law 392
4.6. The Rule of Law’s Limitations and Critics 393
5. Conclusion 397
Bibliography of Principal Works 401
Index 407