Freeing Trade in North America by Greg Anderson

Author:Greg Anderson
Language: eng
Format: epub
Publisher: MQUP
Published: 2020-04-14T16:00:00+00:00

Source: US Bureau of Economic Analysis.

Table 5.3 North American FDI outflows ($US millions)

Source: U.S. Bureau of Economic Analysis.

Table 5.4 North American gross domestic product (US$ billions)

Source: Organisation for Economic Co-operation and Development.

Figure 5.1 North American GDP,1990–2017 (US$ trillions)

Source: World Bank, “World development indicators” database: https://databank. worldbank.org/source/world-development-indicators (accessed 10 June 2019).

The NAFTA’s aftermath: something has changed

Members of Congress began to have doubts about chapter 11 just four years later, when Loewen Group, a Canadian firm, filed a chapter 11 case, claiming a 1996 Mississippi jury decision against Loewen Group denied the firm national treatment and effectively expropriated the firm’s private property and future earnings.7 Although this case was eventually dismissed in its entirety in June 2003, five years of litigation, the apparent mechanism provided by chapter 11 to circumvent domestic law, by undermining the decision of a Mississippi jury, suggested that the investor–state arbitration rules were not being used as intended. Never before had such rules been used by a firm from a developed country to challenge treatment of an investment in another developed country. As of mid-2018 there had been 55 chapter 11 cases alleging discriminatory treatment at the hands of a NAFTA government. Interestingly, only 17 of the 55 were filed against Mexico, the ostensible focus of chapter 11 protections in the first place; the rest were against the United States (17) and Canada (21). Between 1981 and 2012 not a single dispute against the United States had been launched under the US BIT programme.8 Yet, under the NAFTA, the majority of chapter 11 claims have been made against the two developed states with traditions of strong property rights protections.

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