Reclaiming Development in the World Trading System

Description

Providing extensive coverage of international trade law from an economic development perspective, this second edition of Reclaiming Development in the World Trading System offers discussion of key principles of international trade law, trade measures, trade and development issues, and regulatory reform. Including such topics as the most-favored-nation principle, national treatment, and tariff binding, Lee also offers insightful analysis into new areas pertaining to agriculture and textile, trade-related investment, intellectual property rights, and trade in services. Looking at trade and development issues in Asia, Africa, and Latin America, as well as microtrade, an innovative international trade system designed to relieve the absolute poverty of least-developed countries, this book is essential reading that gives context to development interests and advances specific regulatory and institutional reform proposals. Lee lends insight into these topics with case analysis exemplifying how our trading systems have been adopted by the developing world in order to foster their own economic development.

Yong-Shik Lee is a scholar in international trade law and economic development. He is currently Director of the Law and Development Institute and Distinguished Scholar in Residence at Emory University School of Law. He graduated in economics with academic distinction from the University of California, Berkeley and received law degrees from the University of Cambridge (B.A., M.A., Ph.D.). He has over seventy academic publications in the areas of international economic law, law and development, and comparative law. He has taught international economic law at leading universities in the US, UK, Australia, and South Korea.

'In this second edition, Professor Lee once again addresses the shortcomings of the WTO's regulatory framework for developing countries and the corresponding shortcomings of the WTO system as a positive force for economic development. The issuance of this broader work is particularly timely. It has become increasingly clear that the WTO's 'Doha Development Round' has failed. With it has gone much of the hope that more of the positive impacts of liberalized world trade would benefit the dozens of smaller developing countries that have had little influence on fourteen years of largely unsuccessful negotiations. Under these circumstances the need for an updated study of international trade law from [the] perspective of economic development is greater than ever ... The process of successfully bringing about economic development through trade all too often continues to mystify; Professor Lee's book will assist readers from all disciplines in better understanding this critically important relationship.' David A. Gantz, Samuel M. Fegtly Professor of Law, Rogers College of Law, University of Arizona 'Yong-Shik Lee has written on one of the most intriguing and topical questions facing the current WTO regulatory framework: the adequacy of the existing regime to account for all asymmetries across players ... It is true that economists have often raised a brow when reading the existing WTO Subsidies agreement and Lee's proposals in this context will find supporters in various corners. Lee explicitly recognizes that the WTO cannot by itself (by virtue of its narrow mandate) address all development policy issues faced by developing countries. His proposals are there to first, ensure that the current international trade regime be an obstacle to development, and, second, provide the necessary flexibility for countries faced with hard choices. His book is a contribution to an ongoing discussion and will provide a welcome addition to the existing literature.' Petros C. Mavroidis, Edwin B. Parker Professor of Law, Columbia Law School, New York; University of Neuchatel; and the Centre for Economic Policy Research 'Professor Lee's review of the existing international trade system, and his view of its adverse effect on developing countries is impressive. He argues for considerable reforms, most notably for reforms which will permit developing countries to promote infant industries, a practice which he notes today's developed countries, including the United States, pursued when they were developing. The book does make us think about the trials and dilemmas, and the poverty of less fortunate countries and peoples, and the possible relevance to them of our current trade policies and what changes in them might achieve.' Don Wallace, Jr, Professor, Georgetown University Law Center, and Chairman, International Law Institute 'Professor Lee's well-written, well-researched book raises the challenging question of whether the current WTO rules might retard at least some developing countries' further economic improvement by 'kicking away the ladder' - prohibiting or limiting such tools as infant industry protection which were used by Western countries during earlier stages of their development (and still used even without that justification!). He makes innovative recommendations, such as a Development-Facilitation Tariff, but is aware of the possibilities of abuse (for example, he suggests public hearings to ensure more transparency than is typically the case with developed country protectionism) ... Supporters of current rules in the WTO, including proponents of adding Competition Law and Investment, will have to deal with Lee's arguments. Lee recognizes that trade rules alone are not the source of development. The challenge for developing and developed countries is to make sure that trade rules do not get in the way.' Gary Horlick, Former Deputy Secretary of Commerce, Head of US Department of Commerce Import Administration 'Professor Lee examines whether some of the principles of the WTO based on the concept of static and allocative efficiency models should be reconsidered and perhaps modified. He focuses on the role of industrial policy and export promotion and wonders if developing countries should be given a special treatment according to [a] 'sliding scale' in which less developed countries will get more special treatment and, as the economy develops, this will be scaled down ... Professor Lee's book analyses the current provisions of WTO agreements and suggest[s] some modification so that the ladder that has been 'kicked away' will be 'put back'. I would highly recommend this book to policy makers at the WTO, national governments, lawyers, economists and all others interested in the sound development of the world trading system.' Mitsuo Matsushita, Professor Emeritus, Tokyo University, and Former Member, WTO Appellate Body 'As Professor Lee explains, this extensively revised edition is 'written for those who wish to study international trade law from the perspective of economic development'. Professor Lee once again explains the WTO's regulatory framework and its shortcomings for developing countries, particularly for the more than 40 least developed countries that are World Trade Organization (WTO) members, and the corresponding drawbacks of the WTO system as a positive force for economic development. As with the first edition, the work is required reading for anyone, lawyer, academic, economist, public policy official, or non-governmental organization (NGO) member, whose interests lie in the broad intersection of law and development.' David A. Gantz, Journal of International Economic Law