POL 003 Midterm 2

International Court of Justice (ICJ)

Contentious cases (between states) ex: Nicaragua v. United States 1986
Advisory opinions (when requested by UNGA or UNSC)

194

How many cases were entered into the general list of the ICJ by April 2024?

27 advisory opinions

By April 2024, the ICJ has issued ___, with 1 pending

ICJ ruling cases

Territorial disputes, maritime disputes, questions regarding law of the sea, state jurisdiction, diplomatic and consular law, allegations regarding the unlawful use of force

abide

In the ICJ many cases, states ___ by rulings

no compulsory jurisdiction

both states to dispute must agree to ICJ jurisdiction for ICJ to rule
—> hears very few cases in relation to number of disputes that arise

states

Only ___ may initiate ICJ proceedings

No

Is the ICJ always in compliance?

Fiscal Policy

governments revenue and expenditure policies

• taxes and budget expenses

Trade Policy

policies that affect the trade of goods and services as they cross national borders

• tariffs

• quotas

• nontariff barriers

Monetary Policy

Policies that control the money supply: printing money, interest rates

increase money supply

Buy bonds, lower interest rates: people spend instead of save, people borrow more

decrease money supply

sell bonds, raise interest rates: people save instead of spend, people borrow less

Exchange rate policy

policies affecting the price of one country’s currency in relation to other currencies: float fix, peg

Float

Traded on open market, price is set by supply and demand

Fix

Doesn’t change, Gold Value

Peg

Fix currency to something on open market, both float and fixing

buys and sells

How maintain fix/peg? Government ___ own currency on the market to control supply/demand.

market access, MFN (Most Favored Nation) Treatment, National Treatment

What are the obligations of World Trade Organization (WTO) members?

Market Access

1. Maximum tariff rates

• Different tariff rates for different products

• Different states can have different rates for different products

• “Schedule of Concessions”

2. Quantitative Restrictions/quotas & VERs (voluntary export restraints)

• illegal in most cases starting under GATT (General Agreement on Tariffs and Trade)

MFN Treatment

Relegates how imported goods from one state are treated relative to imported “like products” from another state. Can’t discriminate between WTO members —> Lowest tariff you give to any WTO member must be tariff for all WTO members

National Treatment

Relegates how imported goods are treated relative to domestic “like products.” Can’t discriminate between domestic producers from other (WTO) states

Sustainable Development Approach

Approach to economic development that incorporates concern for renewable resources and environment

UN 2030 Agenda for Sustainable Development

Passed by UNGA (2015), 17 SDGs to be reached 2030

17 SDGs

Connections between poverty, health, education, inequality, gender equity, environmental protections, and economic growth

UN General Assembly

• deals with all issues within scope of the UN Charter

• 193 members (all “recognized” states in the system)

• 1 state, 1 vote, no vetoes (principle of “sovereign equality”)

• can only make non-binding resolution

But, often articulate new principles (often creating basis for emerging soft law)

UN Security Council

• Deals only with issues related to international peace and security

• 15 members: P5 with veto power - China, France, Russia, United Kingdom, United States

  • 10 others distributed by region, elected for 2 year terms (no veto power)

• most resolutions require "9 yes + no veto” to pass (can abstain)

• Only UN body that can make binding decisions

• Only UN body to legally authorize use of force (Chapter VII)