American Journal of Trade and Policy
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Choice of Law and Nazi-Looted Art Restitution: Cassirer v. Thyssen-Bornemisza Collection Foundation
Get PDFOn April 21, 2022, the Supreme Court came to an unanimous decision in Cassirer v. Thyssen-Bornemisza Collection Foundation, a case concerning the legal ownership of a valuable painting by Camille Pissarro that was appropriated by the Nazi regime during the 1930s when its Jewish owners fled to the United States. After World War II, the painting changed ownership several times, ultimately to be acquired by Baron Hans Heinrich who sold it to the Thyssen-Bornemisza Collection Foundation in the Kingdom of Spain. After sixteen years of litigation and four appeals to the Ninth Circuit, the Supreme Court vacated and remanded the case back to the Ninth Circuit. The opinion, written by Justice Kagan, contended that in a suit raising non-federal claims against a foreign state or instrumentality under the FSIA, a court should determine the substantive law by using the same voice of law rule applicable in a similar suit against a private party. This paper will introduce the facts of Cassirer, present its procedural history, and dissect its treatment before the United States Supreme Court. This analysis will conclude with a discussion of the potential implications of the Cassirer decision on future Nazi-looted art claims
Breaches of Agreements to Negotiate: A Comparative Analysis of Damages
Get PDFAssessing economic loss and compensatory damages for contract breaches traditionally navigates between two practical difficulties: judicial uncertainty and technical complexity. Judicial tension is exceptionally high when objective data is missing, and when information exists, current financial and statistical methodologies are too complex or costly. To reduce inefficient bargaining, unnecessary litigations, and uncertain judicial decisions, there is a need for alternative methods that are both factual and simpler than current quantitative methods. This paper takes from the personal injury doctrine to posit that viable assessment methods include the development of damages schedules for certain economic losses. It uses breaches of corporate agreements to negotiate or to agree in the US and France to illustrate so. After reviewing data sampled from several hundred contract cases, this paper highlights a convergence of seemingly opposed case laws over the last 25 years as a starting point for a standardized damages methodology. The empirical analysis shows strong correlations between plaintiff outcomes and claims quantum, evidentiary levels of sophistication, business risk, and law firm size. Based on these results, this article formulates practical suggestions for parties seeking to improve their chances of success. It delineates the groundwork for additional empirical analysis needed to achieve statistical representation. Using damages schedules combined with artificial intelligence would give rise to predictive decision support systems that assess the probability of obtaining damages and the quantum of those damages. This would trigger a virtuous cycle: assisting judges in their discretionary decisions, and improving the accuracy of predictive models, thus, giving more incentives for all stakeholders to use them. Hence, their use would streamline litigation and eventually generate value for society beyond what can be imagined today
Career Preferences of Bangladeshi Public University Business Students: A Policy Recommendation
Get PDFPlanning a career can be defined as a sequence of processes that build up a career. Choosing the right career is essential for business graduates, especially in this competitive age. This study aims to identify the career preferences of business background students of Public Universities in Bangladesh and the factors that influence their career choice, which will help the business policy maker. Both the structured and the semi-structured questions containing pre-coded and open-ended questions were used to development of the questionnaire. Likert scale and multiple-choice were also used in the questionnaire. For this study, we have 97 respondents as our sample size. We have done frequency analysis, ratio analysis, percentages, and means to reach our objective. The result shows that most business students prefer Government/Public sector jobs, especially Bangladesh Civil Service (BCS). Teaching is the second choicest profession for graduates. The key factors influencing career choice are authority and power, social recognition, job security, mental satisfaction, and payment. The most common constraints graduates face when choosing a career are a lack of practical education, subject-specialized jobs, practical education systems, unfair hiring process, and experience needed at an entry-level position. However, the findings of our study will help both students and policy maker about career-related issues. Furthermore, the in-depth extracted policies are recommended to bring more insight into the matter
Smart Contracts for Efficient Supplier Relationship Management in the Blockchain
Get PDFSmart contracts have become a game-changing tool for improving supplier relationship management (SRM) efficiency and transparency within the blockchain ecosystem. This study aims to understand better how intelligent contracts facilitate supplier-buyer communication, increase accountability, and streamline procurement procedures. The study\u27s primary goals are to examine the advantages and difficulties of smart contracts in supply chain management (SRM), explore how they affect supply chain operations, and determine how these findings may affect industry standards and regulatory frameworks. A review methodology based on secondary data amalgamates extant literature and empirical research on smart contracts for supply chain management. Important discoveries show that smart contracts promote efficiency and cooperation in SRM by automating contract execution, improving transparency, and enabling trustless transactions. To fully utilize intelligent contracts in SRM, however, obstacles, including regulatory ambiguity, scalability constraints, and interoperability concerns, must be resolved. Implementing smart contracts in SRM will require clear regulatory frameworks, the development of standards and interoperability, and funding for research and teaching
Adoption of Clear Convincing Evidence in Hong Kong
Get PDFDrawing from overseas practices, namely the law in England & Wales (E&W) and the law in the United States (US), this article will critically discuss whether a higher standard of proof of ‘clear and convincing evidence (CCE) should be adopted in non-criminal proceedings in Hong Kong (HK), and if so, in what types of cases. Consequently, because the \u27balance of probabilities ("BOP") and \u27beyond reasonable doubt\u27 (\u27BRD\u27) standards have themselves proved to be highly complex, and jurors have found these standards even more complicated to understand, the introduction of an intermediate CCE standard would invariably lead to even more complexity and misunderstanding in the current HK evidentiary system applicable to non-criminal proceedings. This is precisely the opposite of what the HK evidentiary system needs now. Whilst a higher CCE standard of proof could in principle be adopted within HK, for instance, in cases where due process principles may potentially be invoked, unless the such standard is conceptually or empirically justified based on irreproachable evidence, it would represent an arbitrary re-allocation of evidentiary standards
Regulatory Cooperation in Mega-Regional Trade Agreements
Get PDFTrade friction in the age of global value chains is primarily due to regulatory diversity. While due to the lack of disciplines in the WTO context on the exercise of regulatory powers by states, it is difficult to eradicate the diversity, regulatory cooperation is key to reducing the restraints that heterogenous regulations may impose on international trade. Recent mega-regional trade agreements have gone beyond the WTO disciplines and put forward novel and ambitious approaches to regulatory cooperation to address behind-the-border non-tariff measures. After a critical review of the new regulatory cooperation mechanisms in three mega-regional trade agreements, this article argues that these new regulatory cooperation mechanisms have spelled out a thick web of procedures that can be used to deliver better quality domestic regulations as well as enhance governmental coordination through joint institutions that monitors the consistency of proposed regulations with treaty commitments. It is still too early to assume that these new initiatives will significantly impact ameliorating the adverse effects of regulatory diversity in international trade. Nevertheless, they break new ground in international economic rule-making and hold great promise
Signposts Signify Troubled Waters Ahead for Taiwan-U.S. Relations
Get PDFThe issue of Taiwan\u27s independence and protection is reminiscent of Poland’s position in the late 1930s, facing unbridled aggression from Nazi Germany. Great Britain and France promised to declare war if Germany attacked Poland. However, after Germany attacked Poland on September 1, 1939, neither Great Britain nor France deployed troops to Polish soil to rebuff the attack and restore Poland’s sovereignty. The promise of assistance was an empty promise that the Polish people paid dearly. History teaches us that an ambiguous assistance policy will not stop naked aggression. A firmer stance and a more transparent approach are warranted from a diplomatic standpoint. This article is an essay that sets forth and supports the premise that the United States should clarify and strengthen its position of support for Taiwanese independence.
Preprint (November 18, 2021). Available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=393912
Impact of Disclosure Practices on Investment Decision: A Study on Different Parts of Disclosure Index of Listed Conventional Banks in Bangladesh
Get PDFThe purpose of this study is to evaluate the impact that various aspects of the disclosure index have on the decision-making processes that are important to investors. This study created an unweighted disclosure index in eight headings: the corporate profile, corporate governance, workers and social responsibility, risk management, financial performance indicators, income statement, balance sheet, and accounting policy. The individual disclosure of each part of the disclosure index has been calculated. This study also uncovered some problematic aspects of the decision-making process for investors, such as working capital ratio, current ratio, deposit assets ratio, cash deposit ratio, ROE, ROA, dividend payout ratio, and dividend yield ratio. To achieve the study objective, this study has used secondary data extracted from published audited annual reports of ten sample banks in Bangladesh from 2015 to 2019. The ANOVA test and multiple regression analysis with the ordinary least square model (OLS) have been employed to reveal the study findings. The results of the ANOVA test report significant variation in the disclosure scores of different parts of the disclosure index and the various concerned components of investors’ decisions. The results of multiple regression analysis illustrated that the disclosure scores of the other parts of the disclosure index had a significant positive impact on the different concerned components of investors’ decisions
Impact of Global Trade Dynamics on the United States Rubber Industry
Get PDFThis study looks at how global trade dynamics affect the rubber business in the United States, emphasizing how supply chain adaptation, trade regulations, and market trends affect industry competitiveness and prospects in the future. The study\u27s primary goals are to evaluate supply chain adaptation techniques, examine potential future growth opportunities for the industry, and explore how trade policies affect market competitiveness. To acquire information about international trade trends and their consequences for the rubber business in the United States, a thorough examination of secondary data sources, such as government publications, industry reports, and scholarly journals, was conducted. The impact of globalization on trade patterns, the necessity of supply chain resilience through technology adoption and strategic partnerships, and the role of innovation and sustainability in boosting industry competitiveness are among the key conclusions. The policy implications underscore the necessity of equitable trade rules that foster transparency, minimize trade obstacles, and allocate resources toward technology and sustainable practices to bolster sector resilience. The research highlights the significance of cooperative endeavors between industry participants and policymakers in cultivating a favorable trade atmosphere for the sustainable economic growth of the rubber sector in the United States
A Focus on Fentanyl in America\u27s Failing Trade War With China
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