IEL updates

(these updates were taken from various sources)

> the US lost to Antigua and Barbuda at the WTO Panel level regarding US measures affecting the cross-border supply of gambling and betting services.

> China's continuing alleged violation of it's WTO commitments getting to the nerves of US Congressmen, this coming at a time that China has seemed to overtake the US in terms of export growth.

> Nevertheless, the US remains the biggest buyer of the world's goods, with over twice the global share of second-ranked importer Germany.

> Ministers from Brazil, the EC, India, the United States, Australia and Japan met in New Delhi to make a strong push for a successful conclusion to the Doha Round by this year. Still, things hang in the balance.

> "The reduced pace of global economic activity will imply lower trade growth which is expected to average maybe around 6 percent in 2007," the WTO's chief economist Patrick Low said. Pascal Lamy, WTO Director-General, on the other hand, stated that "a successful conclusion to the Doha Round holds great potential for boosting growth and alleviating poverty ... an agreement would also deliver more relevant trade rules, helping to establish a more stable and certain foundation for today's dynamic global marketplace."

> The WTO's Appellate Body issued its report regarding the compliance panel report in the case “United States — Sunset Reviews of Anti-Dumping Measures on Oil Country Tubular Goods from Argentina”, and recommending that the United States implement fully the recommendations and rulings of the DSB.

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This week saw the last of my MCLE lectures on international economic law for the present cycle. Next week, I shall be in Baguio to participate in the Round Table discussion with the Justices of the Supreme Court on various legal issues with economic significance. The Round Table is a culmination of a training program held under the auspices of PhilJA to educate the judiciary on law and economic development.