By Pedro J. Martinez-Fraga, C. Ryan Reetz
This article explores how the general public objective doctrine reconciles the usually conflicting, yet both binding, duties that states need to interact in regulatory sovereignty whereas honoring host-state responsibilities to guard overseas funding. The paintings examines the a number of variations and iterations of the general public objective doctrine and concludes that this precept should be reconceptualized to fulfill the imperatives of financial globalization and of a brand new paradigm of sovereignty that's in response to the interdependence, and never independence, of states. It contends that the old expression of the general public objective doctrine in typical and traditional foreign legislations is fraught with primary flaws that, if now not corrected, will supply upward thrust to disparities within the courting among traders and states, asymmetries with admire to industrialized countries and constructing states, and, finally, approach legitimacy issues.
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Extra info for Public Purpose in International Law: Rethinking Regulatory Sovereignty in the Global Era
12 Martinez-Fraga and Reetz international law of trade and investment protection. Equally relevant for the purposes of this analysis is the NAFTA’s application of the public purpose doctrine broadly throughout the whole of its treaty framework, but more particularly in its Chapter Eleven rubric. ” It develops a “public purpose standard” while also relying doctrinally on public purpose as a substantive principle explicitly having specific categorical or subject matter content, and thus it presents the compelling case of a principle that is more than a “boiler plate catchall” that conceivably concerns a sovereign’s exercise of sovereignty under the banner of the public good.
Public purpose in the context of reservations Reservations and exceptions represent two normatively related but distinct sets of public purpose precepts that often encompass overlapping categories. Reservations fall within the ambit of public purpose, at least within the context of this contribution, because by definition they are the product of the State’s exercise of regulatory sovereignty. Their normative standing, and therefore their propriety as a juridically cognizable public purpose, is founded on the procedural adherence to a legitimate negotiation of a treaty forming part of international conventional law.
Id. Id. Id. art. 1114. See Restatement (Third) of Foreign Relations Law § 712 cmt.