The WTO member nations have only recently turned their consideration to the barriers between nations that impede the flow of services across boundaries. In the professions, such as medicine, law, and accounting, substantial barriers currently exist. Some barriers are in the form of domestic licensure requirements, which in turn often require a particular educational background for the applicant. Would establishing a clearinghouse for educational equivalencies around the world and requiring WTO members to honor the educational achievements received by applicants in other member countries be a good idea? Why or why not?
As we have just seen, there is no such thing as one body of international law per se that regulates international contracts and trade. Instead, a contract between firms in different countries may be subject to the laws of one country or the other, depending on (1) whether it is a sales contract subject to the U.N. CISG, discussed below, (2) whether the contract itself stipulates the applicable law and forum in which a dispute will be heard, and (3) the rules regarding conflict of laws in each jurisdiction.