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Subsidies and countervail have been the subject of much attention in recent decades. In this book, the editors have selected seminal contributions to the literature on the economics of subsidies and countervailing duties in international trade, their role in trade agreements and their treatment in the GATT/WTO system

Cover -- Half-title -- Title page -- Copyright information -- Synoptic contents -- Detailed contents -- Preface -- List of abbreviations -- Table of cases -- I Introduction -- II Commentary -- Article 1 Definition of a Subsidy -- Introduction -- Overview -- Can Several Acts of Subsidization Be Classified as a Single Programme? -- When Does a Subsidy Come into Existence? -- Subsidy (Article 1.1) -- Government or Public Body -- 'Within the Territory of a Member' -- 'Financial Contribution' -- Purpose of the Notion 'Financial Contribution' -- Relationship between the Subparagraphs of Article 1.1(a)(1) -- Classification of the Government Support -- Direct Transfer of Funds or Potential Direct Transfer of Funds or Liabilities (Article 1.1(a)(1)(i)) -- Introduction -- Government Practice -- Direct Transfer of Funds -- Government Revenue Foregone or Not Collected (Article 1.1(a)(1)(ii)) -- Government Provision of Goods or Services (Other Than General Infrastructure) and Purchase... -- Introduction -- Goods -- To 'Provide' -- General Infrastructure -- To 'Purchase' -- Is a Purchase of Services a Financial Contribution? -- Government Makes Payments to Funding Mechanism or Entrusts or Directs a Private Body... -- Entrustment or Direction -- Payments to a Funding Mechanism -- Income or Price Support (Article 1.1(a)(2)) -- Benefit (Article 1.1(b)) -- The Notion of 'Benefit' -- Benefit to a Recipient … -- … and Not Cost to the Government -- Need to First Define the Relevant Market -- Proper Classification of the Support -- Determination of Benefit is an ex ante Analysis -- Benefit Analysis Must Be Evidence Based -- What Type of Evidence Is Relevant? -- Benchmark Must Not Be Distorted -- Adjustments May Be Necessary to Make a Benefit Analysis -- Precise Quantification of a Benefit -- Article 14 Is Relevant Context for Any Benefit Analysis.

Panels and the WTO Appellate Body have rendered a large number of complex and lengthy rulings on the Agreement on Subsidies and Countervailing Measures. The reasoning behind these rulings is often intimately linked to the underlying facts of a particular case and the methods of litigation adopted by the parties. Without guidance, it is difficult to find and research a specific subsidy issue quickly. This book provides an essential article-by-article commentary on the Agreement and sets out the law as it emerges from this body of rulings, providing the legal basis for further analysis of subsidy disciplines within the realms of economics and political science. It also includes a useful summary of the negotiating history and the links to other WTO Agreements such as GATT 1994. This important reference work will appeal to international trade lawyers, government officials, researchers, students of international trade law, business associations and NGOs

Panels and the WTO Appellate Body have rendered a large number of complex and lengthy rulings on the Agreement on Subsidies and Countervailing Measures. The reasoning behind these rulings is often intimately linked to the underlying facts of a particular case and the methods of litigation adopted by the parties. Without guidance, it is difficult to find and research a specific subsidy issue quickly. This book provides an essential article-by-article commentary on the Agreement and sets out the law as it emerges from this body of rulings, providing the legal basis for further analysis of subsidy disciplines within the realms of economics and political science. It also includes a useful summary of the negotiating history and the links to other WTO Agreements such as GATT 1994. This important reference work will appeal to international trade lawyers, government officials, researchers, students of international trade law, business associations and NGOs

This paper, based on an analysis of the settlement of disputes by the DSB from 1993 to 2002, explains that the SCM Agreement, grounded on criteria of "specificity" and "serious prejudice" can only be interpretative. Also, the difficulty in settling commercial disputes related to this Agreement will drag on for the simple reason that the borders of an acceptable subsidy cannot be defined. Finally, the importance placed on "prejudice" to the domestic industry is overstated by not taking into account the interest of consumers. In short, it matters more to call for a repeal of national legislation on countervailing measures than to have an international agreement on subsidies. Adapted from the source document.

The rise of China as a genuine world power, economically and militarily, constitutes the gravest challenge faced by the liberal international order constructed in the aftermath of the Great Depression and the Second World War. A major source of strain in the trade relations between China and the other core members of the liberal world trading system is its extensive use of state-owned enterprises as an instrument of general (domestic) economic policy. This paper builds on Ruggie's theory of embedded liberalism and the theory of economic policy to characterize the political and economic difficulties and opportunities in moving toward a new regime for dealing with subsidies. The conclusion sketches some goals such a regime should seek to embody.

ABSTRACT
Many governmental incentives unilaterally offered in special economic zones affect competition in international markets and thus fall within the scope of the World Trade Organization's Agreement on Subsidies and Countervailing Measures. Until very recently, products made in such zones could face countervailing duty investigations abroad on a charge of improper subsidization. In 2019, the World Trade Organization issued its first ruling focusing on the legality of certain special economic zone subsidies. In particular, the panel in India—Export Related Measures found fiscal preferences under an Indian scheme to be prohibited export subsidies. This article examines the status of special economic zone incentives under the multilateral subsidy regime, discusses the relevant anti-subsidy practice, and identifies 'risky' and 'safe' types of support measures that constitute unilateralism of zones in promoting economic activities.

The ability of countries to promote and protect their domestic industries in the face of stiff global competition is an important consideration in any trading agreement. Member states of the World Trade Organization are expected to adhere to the WTO Agreement on Subsidies and Countervailing Measures, but to what extent do the WTO Members have policy space to subsidize their industries? Using an economically informed framework, Caiado examines the flexibilities countries may find at the WTO to grant subsidies and impose tariffs to protect designated industries. By testing the Treaty system of entitlements and enforcement mechanisms against the theory of incomplete contract, this work offers a comprehensive analysis of the capacity of the SCM Agreement to achieve its goal: the concomitant regulation of opportunistic behavior and assurance of ex post flexibility