master_shake_
Diamond Member
- May 22, 2012
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Trade deals aren't 100% about tariffs and traditional "trade", as your layman worldview would have you believe. They're also about complex financial laws, IP, etc. Welcome to 50 years ago. This surprises no one well informed. The fact that it scares you is your problem.
you should be too
From 1990 through the present, over 100 different countries have been sued over 550 times. Most of these are developing countries. The U.S. and Canada have been sued under NAFTA, but Western European countries have been sued only a handful of times (and Japan never). Sometimes these cases are brought at the World Banks International Center for the Settlement of Investment Disputes (ICSID). Sometimes they are brought under special U.N. rules (UNCITRAL). Because these cases can sometimes be private, we dont know the full number of cases.
For my research, I have compiled a database of 360 cases in which we know what happened as of 2012. Of these, the state won 34 percent of the time. The MNC won 31 percent of the time. The case settled before reaching a final judgment 34 percent of the time (which lawyers think of as a win for the MNC). In all but a handful of cases, governments appear to have been compliant with the awards rendered.
http://www.washingtonpost.com/blogs...ispute-settlement-system-why-should-you-care/