The Culture of the WTO: Why it Needs to Change

The WTO is an international organization with its own distinctiveculture, which is derived from the practice and experience ofthe GATT. The WTO, however, is not the old GATT. The multilateraltrading system was transformed into an international organizationin 1995, and today, the WTO also administers a host of agreementsthat contain detailed rules regulating international economicactivity. The membership of the WTO has grown to 150, the vastmajority of which are developing countries. Most importantly,the trading system, which was once bi-polar, driven by the UnitedStates and the European Union, has changed dramatically to becomemulti-polar, with the large emerging economies, such as China,India and Brazil, becoming major economic powers in their ownright. The WTO needs major surgery in order to respond effectivelyto the new political realities in the international economicsystem. The current impasse in the Doha Round is in large partdue to the great transformation in geopolitical power relationshipstaking place in the world today. If the Round fails, it willnot be the end of the WTO. On the contrary, it might providea useful ‘time out’ for the multilateral systemto find its new stride. A related problem is that the mandateof the WTO is no longer clear. This article suggests that WTOMembers work together to define the new purpose and mandateof the WTO to make it relevant to governments, companies andpeople in the 21st century. Institutional reform of the WTOis needed to provide it with the architecture and decision makingmachinery that will allow it to become a vibrant, responsiveand accountable organization.     

Ordoliberal Lessons for Economic Stability: Different Kinds of Regulation,Not More Regulation

Since the Global Financial Crisis of 2008 the term “ordoliberalism” has experienced a marked revival. This discussion tends to focus on the need for more state intervention. Yet this misrepresents the core ideas of ordoliberalism because its main concern is not with “how much” but with “what kind of” intervention is needed. Thus, this article seeks to clarify the ordoliberal position, in particular its key distinction between market conforming and nonconforming state intervention. Discussing the current financial crisis, it also evaluates the potential benefits and drawbacks of ordoliberalism. The article rebukes rhetorical shortcuts that equate every economic policy coming out of Germany with ordoliberalism. It also suggests that while the ordoliberal conception does not necessarily provide a solution to the current problems in the short run, in the long run it may form the basis for a sounder conception of economic regulation than more libertarian views can offer.     

Place-making: Chin refugees,citizenship and the state in Malaysia

Southeast Asia is a transit point as well as a point of destination for thousands of migrants and refugees. This is not new, as people movements in and through the region have a long and diverse history. However, the spaces for movement have been severely restricted by modern national borders and border protection enforcement. A significant part of the migration flows are made up of refugees. This is particularly so in Malaysia, which is currently home to approximately 200,000 refugees. The Malaysian government continues to resist outside and internal pressures to face up to and remedy the refugee crisis it increasingly finds itself in. As a result, refugees live in a liminal and extra-legal place in Malaysia, which makes any real engagement with the Malaysian body politic and Malaysians problematic. This paper traces the attempts at place-making by Chin refugees in Malaysia and their attempts to evade, confront and circumvent Malaysian authorities.     

Transformations de l'autorégulation et nouvelles régulations publiques en matière de gouvernement d'entreprise en Suisse (1985‐2002)

La Suisse a toujours connu une forte tradition d'autorégulation par les acteurs privés dans les sphères économiques au détriment d'un cadre légal très étendu. Cela s'avère particulièrement vrai en matière de gouvernement d'entreprise, notamment en ce qui concerne le droit des sociétés, la surveillance des marchés boursiers ou le droit comptable. En raison du caractère très général de la législation, divers mécanismes de gouvernance privée ont généralement complété la base légale minimale dans ces trois domaines. Depuis une vingtaine d'années, on assiste cependant à une profonde transformation de ces mécanismes d'autorégulation dans le sens d'une formalisation accrue et d'un remplacement progressif des solutions privées par des réglementations publiques plus précises dans cinq domaines cruciaux: transférabilité des actions, droit de vote des actions en dépôt auprès des banques, offres publiques d'achat, surveillance des marchés boursiers et établissement des normes comptables. Sous l'effet des transformations de l'environnement international, de l'évolution des préférences de certains acteurs économiques importants et de l'affirmation de nouveaux acteurs (investisseurs institutionnels et experts‐comptables notamment), le cadre réglementaire du gouvernement d'entreprise suisse a été réformé en profondeur.