Trade, Competition and Domestic Regulatory Policy: Trade Liberalisation, Competitive Markets and Property Rights Protection

501 Pages·2023·7.955 MB·English

by  Shanker A. Singham, Alden F. Abbott

TRADE, COMPETITION AND
DOMESTIC REGULATORY POLICY
Trade, Competition and Domestic Regulatory Policy presents a unique combination
of analysis of both international trade and investment policies, and competition
and regulatory policies. Increasingly, policymakers, businesses and the law and
economics professions need to better understand how changes and policy devel-
opments in international trade and competition developed and how their inter-
action impacts on global business.
In addition to providing a comprehensive analysis of the attempts of interna-
tional trade theory and practice to deal with tariffs, non-tariff barriers, market
distortions and failures to protect various kinds of property rights, this book con-
tains a detailed treatment of how property rights protection, including intangible
property rights, are a critical element of ensuring open trade and competitive
markets. It examines how these rights have developed over time and how they
have been integrated into trade and competition policy.
This book will be of significant interest to students of international business,
professors of economics, law and business, and policymakers at the intersection
of trade, investment, competition and property rights.
Shanker A. Singham is one of the world’s leading international trade and
competition lawyers/economists. He is the CEO of Competere and a former
cleared advisor to the United States Trade Representative. Mr Singham is a for-
mer advisor to the Secretary of State for International Trade of the UK.
Alden F. Abbott is a Senior Research Fellow at the Mercatus Center, focusing
on antitrust issues. Before joining Mercatus, Mr. Abbott served as the Federal
Trade Commission’s General Counsel from 2018 to early 2021, where he repre-
sented the Commission in court and provided legal advice to its representatives.

TRADE, COMPETITION
AND DOMESTIC
REGULATORY POLICY
Trade Liberalisation,
Competitive Markets and
Property Rights Protection
Shanker A. Singham and Alden F. Abbott
Designed cover image: diane39
First published 2023
by Routledge
4 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
and by Routledge
605 Third Avenue, New York, NY 10158
Routledge is an imprint of the Taylor & Francis Group, an informa business
© 2023 Shanker A. Singham and Alden F. Abbott
The right of Shanker A. Singham and Alden F. Abbott to be identified
as authors of this work has been asserted in accordance with sections 77
and 78 of the Copyright, Designs and Patents Act 1988.
All rights reserved. No part of this book may be reprinted or reproduced
or utilised in any form or by any electronic, mechanical, or other
means, now known or hereafter invented, including photocopying and
recording, or in any information storage or retrieval system, without
permission in writing from the publishers.
Trademark notice: Product or corporate names may be trademarks
or registered trademarks, and are used only for identification and
explanation without intent to infringe.
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library
ISBN: 978-0-367-33987-6 (hbk)
ISBN: 978-0-367-33988-3 (pbk)
ISBN: 978-0-429-32333-1 (ebk)
DOI: 10.4324/9780429323331
Typeset in Bembo
by codeMantra
Access the Support Material: www.routledge.com/9780367339883
CONTENTS
List of Figures vii
List of Tables ix
1 Purposes of Trade Liberalisation and Competitive Markets 1
2 Introduction to Institutions Underpinning Global
Trade and Regulations 19
3 The Role of Consumer Welfare in Competition
Implementation and Enforcement 42
4 A Brief Introduction to the Theory of Anti-Competitive
Market Distortions 102
5 Trade Policies and Trade Remedies through the Lens
of Competition and Consumer Welfare 113
6 The General Agreement on Tariffs and Trade: A Temporary
Fix but a Constitutional Foundation 130
7 Trade and Competition in Agriculture: A Trade
Negotiation and Sugar Case Study 188
8 State Trading Enterprises and State-Supported Monopolies:
Beginnings of a Consumer Welfare Test 216
vi Contents
9 Domestic Regulatory Reform 244
10 The Role of Property Rights in Building a Competitive
Market 263
11 Protecting Property Rights: The Triple Interface between
Intellectual Property, Competition and Trade 302
12 Trade in Services: General Introduction 364
13 Financial Services 374
14 Impact of the New Media Economy 421
15 Conclusion 462
Annex: Anti-Competitive Market Distortions Chapter 465
Index 483
FIGURES
1.1 Impact of Distortions on Trade Flows (1) 11
1.2 Impact of Distortions on Trade Flows (2) 12
4.1 Pro-competitive Regulation 105
4.2 Trade Flows under SRB Model 106
7.1 The Total Trade Distorting Domestic Support Entitlement
(All WTO) 190
7.2 Total Trade-Distorting Domestic Support Entitlements (Top
Ten WTO Members (2016) versus Rest of the Membership) 191
7.3 Comparison of OECD Total Support versus Chinese
Total Support 192
7.4 European Union Exports of Sugars and Sugar
Confectionery 206
7.5 Average Prices for Sugar Worldwide from 2014 to 2025 (in
nominal USD per kg) 207
7.6 The European Sugar Policy: A Policy to Rebuild 207
8.1 Schematic for Canadian Wheat Production 227
12.1 Trade in Services (Percentage of GDP) 365
12.2 Services Trade Figures 366
12.3 Retail E-commerce Sales Worldwide 2014–2025/Billions USD 366

TABLES
7.1 EU export subsidies 204
9.1 Regulatory impact assessment 254