International Legal Regulation of Financial Services Trade

Author: Wen Shuying
Publisher:
Publish Date: 2005-02-01
Features: Introduction: The book focuses on the international legal regulation of financial services trade. It is based on the discussion of the main content of multilateral and regional legal norms for financial services trade, analyzes the interaction between multilateral and regional legal norms, and argues that the liberalization of financial services trade promoted by global and regional international economic organizations does not necessarily endanger a country's economic and financial security. The book, excluding the introduction and conclusion, consists of seven chapters. Chapter 1 is on the general theory of financial services trade, including its legal theoretical foundation and economic theoretical foundation. Chapter 2 is on the multilateral legal norms of financial services trade, discussing the main content and significance of the WTO legal system for financial services trade. Chapter 3, based on the EU Bank Services Directive and Insurance Services Directive, analyzes the unique principles and methods of financial services market integration in the EU. Chapter 4 discusses the legal framework of the North American financial services market integration, specifically the provisions on financial services in the North American Free Trade Agreement (NAFTA). Chapter 5, after a comparative analysis of multilateral and regional legal norms for financial services trade, summarizes the insights regional legal norms provide for multilateral legal norms. Chapter 6, through an analysis of the relationship between financial services trade liberalization and capital account liberalization, and between financial services trade liberalization and prudent regulation, argues that financial services trade liberalization does not affect a country's ability to maintain the security of its financial system. Chapter 7 explores the legal system of China's financial services trade and its improvement. The book comprehensively introduces the general theory of financial services trade, the multilateral legal norms of financial services trade, and the regional legal norms of financial services trade—specifically the EU Financial Services Directive.