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5 Law & Dev. Rev. 1 (2012)

handle is hein.journals/ldevr5 and id is 1 raw text is: Lee: Introduction The 2012 special issue of the Law and Development Review features articles on microtrade. Microtrade refers to a new economic and regulatory system of international trade designed to help the populations of least-developed countries (LDCs) alleviate extreme poverty. Microtrade, unlike large-scaled international trade used by some developing countries as a means to achieve economic development, is based on the international trade of small quantities of locally- produced products (LPPs) which do not require high level of technology or capital for production.' Despite considerable efforts made by the international community and LDCs themselves, most LDCs have failed to achieve economic development which would be essential to bring their populations out of extreme poverty. Conventional methods of economic development, particularly trade-based development policies which were so successful for some other developing countries in the past,2 have not worked for most LDCs, and there is a call for an alternative approach. Microtrade is proposed as an alternative method to a conventional trade-based development policy. Microtrade was first introduced in the summer of 2008 at the Law and Development Panel of the Society of International Economic Law (SIEL) Inaugural Conference held in Geneva, Switzerland. Some of the prominent academic forums such as Harvard University Kennedy School of Government and Johns Hopkins University School of Advanced International Studies (SAIS) subsequently hosted talks on microtrade, and the concept paper was published in 2009.3 Microtrade was also a major theme at the 2011 Law and Development Conference held in Seattle, USA. This special issue features papers presented at the 2011 conference by both rising and established scholars, which discuss various aspects of microtrade. Arpita Gupta expands on the initial concept paper on microtrade and discusses further possibilities of microtrade. Farid Shirazi, emphasizing the importance of information and communication technology in the economic development of LDCs, presents an e-commerce model for microtrade. Pranpanpong Khumon examines microtrade and fair trade movement. Andreas Neaf, Kei Mizuno, Iven 1 For the concept paper on microtrade, see Y.S. Lee, Theoretical Basis and Regulatory Framework for Microtrade: Combining Volunteerism with International Trade towards Poverty Elimination, 2 The Law and Development Review, no. 1 (2009), 367-399. A revised version of this paper can be found on SSRN, text available at <http://papers.ssm.com/sol3/papers.cfm?abstract-id=1524185>. The paper has been republished in Y.S. Lee et al. (eds.), Law and Development Perspective on International Trade Law (Cambridge University Press, 2011), pp. 7 - 28. 2 These countries include the newly industrializing countries (NICs) in the 1970s and 80s, including South Korea, Taiwan, Hong Kong, Singapore, and in more recent decades, China. 3 Supra note 1. ' The description of the conference can be found on the Law and Development Institute website at <http://www.lawanddevelopment.net/2011Conference.php>. Published by De Gruyter, 2012 1

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