By Justin Kirschner

The Organization for Economic Cooperation and Development released its semiannual Economic Outlook, and the numbers are not pretty. It predicts that global trade in 2015 will grow at just 2%, a level that in the past has consistently coincided with a world economic slowdown. The OECD says the paltry trade numbers are due at least in part to shifts in emerging market economies, particularly China’s move away from manufacturing and infrastructure investment towards consumption and services. Indeed, China’s most recent trade numbers bear this out: exports fell 6.9% and imports fell 18.8% just in October. That, in turn, has sent commodity prices plummeting, hurting exporters such as Australia, Brazil, Canada and Russia. In presenting these new numbers, OECD Secretary General Angel Gurría put the onus squarely on the G-20, calling on it to address global trade and growth at its upcoming meeting in Antayla, Turkey.  Among other specific actions, Gurria urged governments to roll-back protectionism and adjust public spending towards investment in an effort to support short-term demand.

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November 17, 2015

 "Studies among the Snow Crystals"
by Wilson Bentley (NOAA)

Dear Readers,

The Summit will be on hiatus for much of December as our writers tackle their exams and take a well-deserved break. We will still be posting periodic articles, but updates will be a little less regular.

If you need some international law to tide you over through the holidays, check out this comparative law report on how states regulate paid holidays. Spoiler Alert: The United States ranks dead last.

Thank you all for your ongoing support and see you in the New Year!

Regards,
Elizabeth Gibson
Senior Online Content Editor

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December 08, 2013

By Phillip Yu

Architecture VII by Steffen Thomä

PhoenixMart, a massive, international wholesale shopping complex will open soon in Casa Grande, Arizona. This 1.7 million-square-foot business center, largely financed by Chinese investors and real-estate companies, will play host to approximately 2,000 vendors. Not only will PhoenixMart be a go-to place for businesses seeking wholesale supplies, vendors will also service the general public. As a starting point, vendors on site will sell general consumer products, automotive products, home and hotel products, and food. Approximately one third of the vendors will be foreign.

One of PhoenixMart’s primary missions is the creation of a thriving and integrated network of businesses. On-site businesses will receive discounts in legal services, counseling and comprehensive marketing services. Also, PhoenixMart will host regular trade shows to aid small businesses in promoting their products and services.

The feedback has largely been enthusiastic. Casa Grande city officials already anticipate the creation of over 7,000 jobs within Arizona.

However, an operation this massive and international in scope has its risks. One risk is the distribution of counterfeit products, which is serious concerning the high level of Chinese involvement.

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November 12, 2013

By Matt Klinger

The Organization for Economic Cooperation and Development (OECD) recently updated its Guidelines governing the Protection of Privacy and Transborder Flows of Personal Data ("Revised Guidelines").   While the set of eight principles established in the original guidelines published in 1980 remain intact, the Revised Guidelines introduce at least three new concepts: (1) the importance of a coordinated national privacy strategy; (2) the need for privacy management programs within organizations; and (3) data breach security notification regimes.

In addition, the OECD has highlighted two themes that run throughout the Revised Guidelines.  First is a "focus on the practical implementation of privacy protection through an approach grounded in risk management."  Second is the "need for greater efforts to address the global dimension of privacy through improved interoperability." 

These revisions help modernize the guidelines to accommodate vast changes in data generation and flows since 1980.  They also serve, however, to highlight the enduring nature of the OECD's data protection principles.

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September 30, 2013