WTO Dispute Procedures, Standard of Review, and Deference to National Governments

Abstract

Increasing international economic interdependence is obviously becoming a growing challenge to governments, which are frustrated by their limited capacities to regulate or control cross-border economic activities. Many subjects trigger this frustration, including interest rates, various fraudulent or criminal activities, product standards, consumer protection, environmental issues and prudential concerns for financial services. Although it has been said that “all politics is local,” it has also been said, with considerable justification, that “all economics is international.”