Writing/Thinking International Buissnes law
farhm9
Ch15TradeRegionsEU_Kemp_042313.pptxInternational Business Law Levels of Economic Integration and the European Union
Kemp lecture
From Shaffer et al, 6th edition
Spring, 2013
Regional Trade Groups Based on Levels of Economic Integration
See next slide for 5 levels
How can members of an FTA treat its members more favorably than other GATT/WTO members? Isn’t this practice discriminatory, and a violation of GATT?
The EU as the greatest experiment in economic unification
From http://people.hofstra.edu/geotrans/eng/ch5en/conc5en/economicintegration.html
EU history as steps toward increasing economic integration
Treaty of Rome (1957) creates European Community.
Single European Act (1987) set 1992 deadline of achieving single market.
Maastricht Treaty (1993) created European Union and set path for monetary union.
Treaty of Lisbon (2009). Significantly restructured the European Union.
Governmental structures of EU compared to U.S.
European Commission
executive
Council of Ministers
legislative
European Parliament
legislative
Court of Justice of the EU
judicial
President and Cabinet
executive
Senate
legislative
House of Representatives
legislative
Supreme Court
judicial
Miscellaneous comparisons between U.S. and EU
EU legal system has 2 types of positive or legislative law: regulations and directives.
EU has agreements/treaties on how members treat one another.
Both have unitary monetary system.
US legal system has 1 type of legislative law, statutes, and one type of administrative law, regulations.
US has constitution that provides for how members treat one another, both federal to state and state to state.
Miscellaneous comparisons between U.S. and EU
EU is not a political union.
Members can be removed from the EU.
The economic union envisioned by EU has 4 unities:
Free Movement of Goods,
Free Movement of Services,
Free Movement of Capital,
Free Movement of People
U.S. is a political union.
States cannot be removed from the U.S.
The economic union envisioned by U.S. has 3 unities:
Free Movement of Goods,
Free Movement of Capital,
Free Movement of People
