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22 J. Int'l Econ. L. 1 (2019)

handle is hein.journals/jiel22 and id is 1 raw text is: Journal of International Economic Law, 2019, 22,1-27 doi: 10.1093/jiel/jgyO49 Advance Access Publication Date: 4January 2019 Article The Rule of Law in Times of Technological Uncertainty: Is International Economic Law Ready For Emerging Supervisory Trends? Shin-yi Peng* ABSTRACT This paper identifies regulators' increasing discretionary practices in the innovation sec- tors and examines whether international economic law is prepared for this supervisory evolution. As demonstrated by the three cases studied, very often technology laws them- selves do not entail sufficient specification, and this is primarily because they are heavily oriented toward principles more so than riles to allow for innovation. This raises the question of how to ensure that these 'principles' are consistently and predictably applied. GATS Article VI:lwas designed to be an important tool in tackling situations in which a general scheme does not make any distinction between foreign and domestic service suppliers, but the administration of this scheme is not reasonable, objective or impartial. The provision, however, is not sufficiently forceful in a manner that safeguards due process and counters the potential abuse of administrative power. INTRODUCTION In a quickly changing marketplace, it is unrealistic to expect 'prescriptive or specific' law to cover every conceivable situation. It has been a challenging task for regulators to promptly respond to the pace of rapid and constant changes in markets. Very often, regulators are confronted with new business practices that do not fit comfortably within their existing regulatory frameworks. New legal issues brought about by technological advancements in the information and communications technology (ICT) sector, for example, often tend to precede existing law. At the same time, the notion of the rule of law requires that administrative decisions should be made on the basis of the law as it exists. As a result, technology-related law inevitably delays, and in some instances prevents, innovation. That said, the 'flexible, grey area of law' must be identified, and this is a function of administrative discretion. In light of the unpredictable nature and incredible pace of technology, as well as the prevalence of unforeseeable changes, broad power in admin- istrative lawmaking is gradually becoming a 'necessary evil.' Delegation of lawmaking Professor of Law, National Tsing Hua University, Taiwan. A preliminary version of this paper was presented at the 'G2 Conference on Resolving Disputes in International Economic Law' organized by the Georgetown's Institute of International Economic Law and the Graduate Institute, Geneva's Center for Trade and Eco- nomic Integration, at the Georgetown Law, Washington DC, 11 July 2018. 1 thank the participants for their comments. Email: sypengdmx.nthu.edu.tw. C The Author(s) 2019. Published by Oxford University Press. All rights reserved. For Permissions, please email: journals.permissions@oup.com . 1

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