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    048&,&4 3%'(1L%,5 ggg S03 09(12(2 AF WH >##!T6G?p 6!#5 K"#@"+-"% ',20/#.(X 7,('( 3,044 A( 4()*(2: 033(33(2 012 8&44(8%(2 01 (g8*3( %0g &1 A((': 40L('

    A((': 04(: /&'%(' 012 &%,(' @('9(1%(2 4*f.&'3 (g8(/% -0D$6 D$.,6 -090> 012 3*9*40' @('9(1%(2 4*f.&'3 *1

    088&'2018( +*%, %,( @&44&+*1L 38,(2.4(`

    S0T R@ %,( 1(% '(%0*4 /'*8( S(g84.2*1L %,( (g8*3( %0g 012 %,( )04.(X022(2 %0gT /(' 4*%(' &@ )&4.9(

    80/08*%F *3 4(33 %,01 c&.'%((1 /(3&3 012 @*@%F 8(1%0)&3 SC6!5"GT: %,( %0g 3,044 A( -*L,% /(3&3 012

    %+(1%FX 3()(1 8(1%0)&3 SCP5DYT /(' 4*%('_

    SAT R@ %,( 1(% '(%0*4 /'*8( S(g84.2*1L %,( (g8*3( %0g 012 %,( )04.(X022(2 %0gT /(' 4*%(' &@ )&4.9(

    80/08*%F *3 c&.'%((1 /(3&3 012 @*@%F 8(1%0)&3 S/6!5"GT ./ %& 7+(1%FX%+& /(3&3 SCDD5GGT: %,( %0g 3,044

    A( 7+(4)( /(3&3 012 %,*'%F 8(1%0)&3 SC6D5#GT /(' 4*%('_

    S8T R@ %,( 1(% '(%0*4 /'*8( S(g84.2*1L %,( (g8*3( %0g 012 %,( )04.(X022(2 %0gT /(' 4*%(' &@ )&4.9(

    80/08*%F *3 9&'( %,01 7+(1%FX%+& /(3&3 SCDD5GGT: %,( %0g 3,044 A( =*g%((1 /(3&3 012 %,*'%FX%,'((

    8(1%0)&3 SC6?5##T /(' 4*%('5

    Z0'*01%3 &@ (g*3%*1L A'0123 012 )0'*01%3 &@ 1(+ A'0123 +,*8, 0'( *1%'&2.8(2 *1 %,( 2&9(3%*8 90';(%

    0@%(' %,( (@@(8%*)*%F &@ %,*3 H8% 3,044 A( %0g(2 .12(' %,( /'&/(' 84033*@*80%*&1 %,('(&@ A03(2 &1 %,(*' 3.LL(3%(2

    1(% '(%0*4 /'*8(` 7#/C,%"%6 */P"C"#67,0% 3.8, 84033*@*80%*&1 3,044 1&%: *1 01F 803(: A( 4&+(' %,01 %,( ,*L,(3%

    84033*@*80%*&1 &@ 01F )0'*01% &@ %,0% A'0125

    H n)0'*01% &@ 0 A'012n 3,044 '(@(' %& 0 A'012 &1 +,*8, 0 9&2*@*(' *3 /'(@*g(2 012a&' 3.@@*g(2 %& %,( '&&%

    109( &@ %,( A'0125

    c('9(1%(2 4*f.&'3 +,*8, 0'( A'(+(2 012 3&42 0% 9*8'&XA'(+('*(3 &' 39044 (3%0A4*3,9(1%3 3.8, 03 /.A3

    012 '(3%0.'01%3 3,044 A( 3.Ah(8% %& %,( '0%( *1 /0'0L'0/, S8T ,('(&@5 JJJ= ;'3 '70":0: D* `N %ddW>L6GY

    `04L NH. Q9L %ddW- 0".2.60:

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    !YG CQRORCCR]- OH EJIW]HO eZJO5P"

    S#T U&'( %,01 =*g ,.12'(2 012 3()(1%F @*)( /(3&3 SC?Y"5GGT Xc*)(,.12'(2 @&.' /(3&3 SC"G!5GGT: /(' /'&&@ 4*%('5

    ggg

    Z542)2.3 9) :23.2660: 342)2.3g 23 ./0 3(D3.'"H0 O"9R" '3 0./*6 '6H9/96-

    (%,01&4 &' 3/*'*%3 &@ +*1(: *184.2*1L 044 2*4.%*&13: /.'*@*80%*&13 012 9*g%.'(3

    %,('(&@: @'&9 +,0%()(' 3&.'8(: AF +,0%()(' /'&8(33 /'&2.8(2: 012 3,044

    *184.2( +,*3;F: A'012F: '.9: L*1 012 )&2;0: 012 &%,(' 3*9*40' /'&2.8%3 &'

    9*g%.'(35 ggg

    7,( -B 012 I= 044(L(2 %,0% 2*3%*44(2 3/*'*%3 /'&2.8(2 @'&9 '0+ 90%('*043

    (1.9('0%(2 *1 /0'0L'0/, S0T &@ =(8%*&1 6!6S+,*8, 0'( *12*L(1&.3 %& %,(

    C,*4*//*1(3T 0'( 3.Ah(8%(2 %& 0 4&+(' %0g '0%( 8&9/0'(2 %& 2*3%*44(2 3/*'*%3 /'&2.8(2

    @'&9 &%,(' '0+ 90%('*043: +,*8, 0'( %0g(2 0% '0%(3 6G %& !G %*9(3 ,*L,(': 2(/(12*1L&1 %,(*' /'*8( A01235 H88&'2*1L %& %,(9: %,*3 '(L*9( 1&% &14F %0g(2 *9/&'%(2

    :23.2660: 342)2.3 7':0 ?)97

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    DG66i 7Hj-= J] >D: NH77 K5R5=5%,=.//5T5

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    !YD CQRORCCR]- OH EJIW]HO eZJO5P"

    =%0%( &@ U*33*33*//* 012 U(2*%(''01(01 '(L*&13: %,( %0g 2*@@('(1%*04 +03 2((9(22*38'*9*10%&'F5 c&44&+*1L %,( '(03&1*1L A(,*12 %,( 0A&)( 8*%(2 803(3: *% *3

    '(03&10A4( %& A(4*()( %,0% %,( C01(4 '()*(+*1L 7*,8,99,+".+*44 @*12 %,0%: 03 0//4*(2:

    =(8%*&1 6!6 2*38'*9*10%(3 0L0*13% *9/&'%(2 2*3%*44(2 3/*'*%35

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    DG66i 7Hj-= J] c*1044F:

    R/260 I/262442"0 '": K5 P9:O'3 ')0 9D.'2"0: ?)97 = 7':0 ?)97

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    !Y! CQRORCCR]- OH EJIW]HO eZJO5P"

    @('9(1%0%*&1 +*%, F(03% @'&9 (*%,(' /&%0%&(3 012a&' 8('(043 &' &%,(' 0L'*8.4%.'04)'R 7'.0)2'63=L6#6

    H 8.'3&'F 8&9/0'*3&1 &@ %,( /'&/('%*(3: 10%.'( 012 f.04*%F &@ C,*4*//*1(

    012 *9/&'%(2 2*3%*44(2 3/*'*%3 +*44 3,&+ %,0% +,*4( %,(3( /'&/('%*(3 0'( 1&% (1%*'(4F

    : 6! U0'8, 6>YP_Q$9$+"

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    N44066'.0 89:* 23 =i6#Y 7,( 013+(' *3 /0*[email protected] &A)*&.35

    N)0 6#P: +,*8,

    *9/4(9(1%3 =(8%*&1 6!6: *3 '()(04*1L5 R% 4*3%3 %,( (g8*3( %0g(3 0//4*80A4( %& )0'*&.3

    A'0123 &@ 2*3%*44(2 3/*'*%3 .12(' (*%,(' &@ %,(3( %+& ,(02*1L3` 0T '/=$8 *1 %,(

    `0B(6'.29"3- ("0\(2P9H'66* :23.2"B(23/2"B D0.R00" : DGG!'": 2746070".3 ./0 4)9P2329"3 9? `04(D62H NH. Q9L %+Wd- 0".2.60:

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    !Y? CQRORCCR]- OH EJIW]HO eZJO5P"

    7& *44.3%'0%(: .12(' %,( W(L.40%*&13: N*1(A'0 =01 U*L.(4: 0 @09&.3 4&804L*1 *3 %0g(2 0% C,/ !566: +,*4( %,( N&'2&1 N*1: 0 3*9*40'4F @09&.3: 04A(*% *9/&'%(2

    L*1: *3 %0g(2 0% C,/ 6GY56": '(3.4%*1L *1 0 %0g 2*@@('(18( &@ 0'&.12 C,/ 6G#5G#

    A(%+((1 %,(3( %+& A'01235 7,( 4&804 ^,*%( B03%4( ^,*3;F *3 %0g(2 0% C,/ P5PG

    R/260 ./0 56!D5"" .09#$1&%( #" 0% 6G>5

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    DG66i 7Hj-= J]

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    !YP CQRORCCR]- OH EJIW]HO eZJO5P"

    B&9/0'*1L %,( 3%'.8%.'( &@ =(8%*&1 6!6 Sp 6!D: 5""1&%( 6G"56"G

    p 6!#: 5""1&%( 6G?56"65""H//(12*g B &1 %,( 2*3%*44(2 3/*'*%3 (g8*3( %0g 3%'.8%.'( &@ B,*10: E0/01: V&'(0: 7,0*4012 012Z*(%1095

    6"D5"" .09#$1&%( D# 0% #??56"#Q$9$+!3$4". /+

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    DG66i 7Hj-= J]

    9&'( (g/(13*)(_ 012 *9/&'%(2 A'012*(3 0A&.% C,/ >D5"> 9&'( (g/(13*)( %,01%,(*' 4&804 8&.1%('/0'%35 N*)(1 %,( 90L1*%.2( &@ %,( %0g 2*@@('(1%*04 A(%+((1 4&804

    '": 2749).0: :23.2660: 342)2.3- ./0 :032B"- ')H/2.0H.()0 '":

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    !PG CQRORCCR]- OH EJIW]HO eZJO5P"

    012 P =(/%(9A(' DGG>:6"P8&99(1%*1L &1 %,( /'&/&3(2 09(129(1%3 %& =(8%*&16!6: 044 A.% 029*%%(2 %,0% =(8%*&1 6!6 *3 *1 )*&40%*&1 &@ %,( NH775 7,('(*1 %,(

    1AV 3.'.0: ./'. +*%, %,( N(1('04

    HL'((9(1% &1 70'*@@3 012 7'02( SNH77T 6>>! &@ %,( ^&'42 7'02( J'L01*\0%*&1

    S^7JT &@ +,*8, %,( C,*4*//*1(3 *3 0 3*L10%&'F5 7,( 8.''(1% %0g 3%'.8%.'( .12('

    WH >##! *3 *18&13*3%(1% +*%, NH77 6>>! 03 *% L*)(3 /'(@('(1%*04 %'(0%9(1% %&

    2&9(3%*8 048&,&4 /'&2.8%3 /'&2.8(2 @'&9 *12*L(1&.3 &' 4&8044F 3&.'8(2 '0+

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    %,0% *9/&'%(2 3/*'*%3 @'&9 %,( I= 012 -I 80%(' %& 90';(%3 2*@@('(1% @'&9 %,&3(

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    N7D'33':9) T'"(06 A00/'"O00 "9.0: ./'. ##!bDGG!5,%94 S 403% )*3*%(2 "E.4F DG6GT5

    6?G V. ?()./0) 3.'.0: ./'.Y

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    DG66i 7Hj-= J]

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    !PD CQRORCCR]- OH EJIW]HO eZJO5P"

    7,*3 0//'&08, *3 ,0'24F h.3%*@*0A4(5 c*'3%4F: A&%, 4&804 012 *9/&'%(2 A'01230'( 3&42 0% 0 '01L( &@ /'*8(3 3.8, %,0% 3&9( *9/&'%(2 A'0123 0'( ()(1 /'*8(2 4(33

    %,01 2&9(3%*8 A'012356?P =(8&124F: *@ %,( C,*4*//*1( (g8*3( %0g '(L*9( *12((2

    B0"(2"06* (.262C03 56YG5"" .09#$1&%( D# 0% #"!5

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    DG66i 7Hj-= J]

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    !P! CQRORCCR]- OH EJIW]HO eZJO5P"

    '44)9'H/= 23 2" H9"?62H. R2./ 30..60: I'"06 '": N44066'.0 89:* )(62"B3 2"2(%('9*1*1L +,(%,(' /'&2.8%3 0'( *1 0 4*;( &' L A/23

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    !P? CQRORCCR]- OH EJIW]HO eZJO5P"

    ./0 4)9:(H.F3 9)2B2"- )'R 7'.0)2'63- 9) 4)2H0- ./0)0D* 60330"2"B ./0 )23O 9? %" J$=-/2*38'*9*10%*&15 7,( 8,&*8( &@ !"d 048&,&4*8 8&1%(1% 03 %,( 2(90'80%*&1 /&*1%

    A(%+((1 %,( %+& %0g A'08;(%3 *3 4*;(+*3( 3.@@*8*(1%4F &'*L*1 1(.%'045

    R% +*44 A( '(8044(2 %,0% *1 )*,8": %,( 2(@(1201% 02&/%(2 0 38,(9( +,*8,

    2*3%*1L.*3,(2 A(%+((1 %+& 80%(L&'*(3 &@ 048&,&4*8 A()('0L(3` A(4&+ #>o S%0g(2 0%

    DYdT 012 0A&)( #>o S%0g(2 0% !YdT5 R18*2(1%044F: 901F +(3%('1 /'&2.8%3 ,02 01

    048&,&4*8 8&1%(1% &@ 34*L,%4F 9&'( %,01 #>o 012 +('( %0g(2 0% !Yd +,*4( %,(

    B,*4(01 /*38& ,02 01 048&,&4*8 8&1%(1% &@ 4(33 %,01 #"o 012 +03 %0g(2 0% DYd5 R1

    8&1%'03%: %,( .3( &@ !"d 048&,&4*8 8&1%(1% *1 %,( /'&/&3(2 A*443 *3 3.@@*8*(1%4F

    &'*L*1 1(.%'04 *1 %,0% 90h&'*%F &@ D/-*2&9(3%*8 012 *9/&'%(2 2*3%*44(2 3/*'*%3 0'(

    A(4&+ %,( !"d 048&,&4*8 8&1%(1% %,'(3,&426P? 012 +&.42 ,(18( A( %0g(2 0% %,(4&+(' '0%(35

    .$-%.+ :5 2**-04.+""= .$ $)*

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    DG66i 7Hj-= J] ! Q(18(: 1(*%,(' %,(

    C01(4 1&' %,( HK *3 &A4*L(2 %& 02&/% /'()*&.3 HK '.4*1L3 ()(1 *@ %,( *33.(3 A(@&'(

    %,(9 ,0)( 8&13*3%(1%4F A((1 2(8*2(2 *1 0 /0'%*8.40' +0F56>" R1 /'08%*8(: ,&+()(':

    '(@('(18( %& /'(8(2(1% *3 8&99&1 012 /'*&' 2(8*3*&13: +,*8, 0'( +(44X'(03&1(2

    012 /('3.03*)(: /40F 01 *9/&'%01% '&4( *1 ^7J 2*3/.%( 3(%%4(9(1%56>? c&'

    *13%018(: *1 5*#,@9"30#-8":6>Y %,( HK 8,03%*3(2 %,( C01(4 @&' @0*4*1L %& 02&/% *%3

    0//'&08, *1 B5"!$./8,+"56>P R1 B5"50+."- H"C,"P. /J _ 1&%( "> 0% D?>56>6H'%*84( DD56: D5"" .09#$1&%( "> 0% #!P56>#E%5 0% D?>56>!E%5 0% >656>"E%56>?HUWR7H ]HWORVHW:7Q- ^JWO< 7WH

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    '(08,*1L 01 09*80A4( 3&4.%*&1 %& %,( 2*3/.%( ()(1 A(@&'( %,( C01(4 *33.(3 *%3@*12*1L35 R% 043& 0)&*23 %,( 38(10'*& &@ %,( C,*4*//*1(3 A(*1L @&.12 '(9*33 *1 *%3

    MNAA H9772.70".3L N3 `9D0). ^(:0H 492".0: 9(.- /J ',-,1$-,/+ $+% 5"--8"@"+- $- -*" ?3FIB K(';(4(F C.A4*8 O0+W(3(0'8, C0/(' ]&5 >P: Y SDGGDT: $C$,8$D8" $-,%%/`aa33'158&9a0A3%'08%r##">D! S403% )*3*%(2 ? E.4F DG6GT 5

    D6DE%5D6#E%5

    http://www.wto.org/english/tratop_e/dispu_e/stats_e.htmhttp://ssrn.com/abstract=335924http://ssrn.com/abstract=335924http://www.wto.org/english/tratop_e/dispu_e/stats_e.htmhttp://ssrn.com/abstract=335924
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    !>G CQRORCCR]- OH EJIW]HO eZJO5P"

    *33.(2: %,( 2(@(1201% *18'(03(3 %,( 09&.1% &@ 2090L(3 *% *3 4*0A4( %& /0F AF 0109&.1% (f.*)04(1% %& %,( 4&33 3.@@('(2 AF %,( 8&9/40*101%5D6!

    @A! 62.2B'.29"3 :9 "9. /'P0 ./23 &' ()(1 %& 9*3.3( 2&9(3%*8 '(L.40%&'F 9(03.'(3 @&'

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    2(@(1201% %& 8&1%*1.( +*%, *%3 *44(L04 08%3 2.'*1L %,( /(12(18F &@ %,( 803(: *% 043&

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    7,*3 *3 *1()*%0A4(0340H2'66*

    E%5 0% 6?5DDG W&A('% Q.2(8: !: ?DG S6>>PT5

    DD6 5"" .09#$1&%( D66 0% 6?5DDDE%5 0% D5

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    *1@'*1L*1L 08%*)*%F: +,*4( %,( 8&9/40*101% 8&1%*1.(3 %& 3.@@(' ,0'9 +*%,&.%8&9/(130%*&15DD#

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