Topics: International trade, World Trade Organization, General Agreement on Tariffs and Trade Pages: 11 (1829 words) Published: May 29, 2013
Containers at port in Manila, PI

Created by Pamela S. Evers, Assoc. Prof., UNCW, for Educational Purposes

© 2007

• Economic Interdependence • Globalization

Israeli children with American Superhero p backpacks

Alexandria 2002 Hong Kong at Night

Rio de Janiero, Brazil ⇒ Chinese goods on way to US ⇓

Embara Indian who performed for US tourists on a cruise ship Jeweler, Egypt

Japanese robot (ASIMO at 2007 Consumer Electronics Show) Cloned Pig, Taiwan

German Navy Ship Lutgens saluting US y p Navy ship after 9/11 Port of Wilmington

Affects b i Aff t business formation, contracts and f ti t t d negotiations, logistics, etc. • Affects how you do business abroad •

Modern Shanghai ⇒

International Law
Public International Law
formed by international customs customs, treaties, and organizations governs relations among nations

Private International Law
national laws (laws of a particular nation) related to international issues that affect private citizens Afghani Women in Front of UN Sign

Sources of International Law
The sources of international law are:
International Customs Treaties and International Agreements
○ Including regional treaties (NAFTA, EU ASEAN (NAFTA EU, ASEAN,


International Organizations and Conferences National Laws

Basic Principles and Doctrines of Int’l Law Int l
Important principles and doctrines applied in the interest of maintaining harmonious relations among nations include: Act of State Doctrine Doctrine of Sovereign Immunity Doctrine of Comity Kenyan Boys

Act of State Doctrine
Judicial branch of one country will not examine validity of public acts committed by recognized foreign government within its own territory Thus nations may: Expropriate: occurs when host government interferes with f i i ith foreign investor's f d t ' fundamental ownership rights t l hi i ht


H.J. Heinz forced t sell t HJ H i f d to ll tomato t processing plant under threat of Venezuelan expropriation

Doctrine of Sovereign Immunity
Exempts foreign nations from jurisdiction in U.S. courts Foreign Sovereign Immunities Act expanded jurisdiction of U.S. courts for creditors of foreign governments Note: sovereign immunity also prevents a citizen from suing a government! Theoretically…see Peterson v Iran

Principle of Comity
One nation defers and gives effect to laws and judicial decrees of another nation, as long as those laws and judicial decrees are consistent with the law and public policy of accommodating nation g


International Law & Business
International law applies to business to the extent it affects business organization and development, ways of doing business in foreign states, and ways of doing business domestically with foreign trading partners

Textile plant in Sri Lanka; contractor for major US lingerie firms

Impact of Treaties on Business
Treaties impact private individual rights because state’s obligation becomes a citizen’s obligation E.g., Convention on Global Warming

General Agreement on Tariffs and Trade is primary treaty affecting U.S. business Initiated after WWII Goal: reduce & eliminate trade barriers US signed in 1994, with 124 other nations g

GATT created World Trade Organization (WTO) to resolve trade disputes Currently (8/07): 151 members

WTO’s decision WTO’ d i i record causes concern about d b t impact of trade on environment & human rights WTO working on General Agreement on Trade in Services

Protesting Trade Issues – g Washington, DC

U.N. Convention on th I t UN C ti the International S l of ti l Sale f Goods (1980) Automatically applies to international sales transactions of businesses within signatory nations unless they opt out Similar to the U.S. Uniform Commercial Code (UCC), but: ( ), writing not required, mirror image acceptance, additional remedies...
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