Author: Mark Naftel
- Trading books are a form of accounting ledger that contains records of all tradeable financial assets of a bank.
- Trading books are subject to gains and losses that affect the financial institution directly.
- Losses in a bank’s trading book can have a cascading effect on the global economy, such as those that occurred during the 2008 financial crisis.
If one were to believe the politicians and pundits in the trade press,the world is in midst of a “telecoms revolution,” resulting from (the) deregulation and new competitive opportunities represented by the 1997 World Trade Organisation Agreement on Basic Telecommunications Services. This may be true. Unfortunately, however, the actions of many regulators and industry participants more accurately reveal not a telecoms “revolution” but instead a growing telecoms trade war that is dangerously close to spiralling out of hand.
PART III: EUROPEAN EFFORTS TO PROMOTE TELECOMS COMPETITION
10: EU Foundations, Institutions and Policies
11: Europe’s First Steps Towards Telecoms Competition
12: Does the EU Regulatory Framework Work in the Market?
13: The EU Approach to the Internet and Data Protection
14: The EU’s 1999 Telecommunications Review
PART IV: CASE STUDIES IN REGULATORY CYNICISM
15: Case Study: Comparing the US and EU Approaches to Universal Service
16: Case Study: FCC’s International Spectrum Policies
17: Case Study: International Submarine Cable Landing Petitions
18: Case Study: International Mergers and Global Alliances
19: Conclusion: O Shame! Where is Thy Blush?
APPENDIX: The FCC’s Competitive Carrier Paradigm
“…they convincingly show that the growing telecoms trade war is to be taken seriously. the book is to be recommended to everyone with an interest in the field.” – Wilfred A M Steenbruggen, Digital Technology Law Journal
“The Telecoms Trade War is a welcome addition to the telecom literature, if for no other reason than it challenges the conventional wisdom with evidence and analysis that go substantially deeper than the mantra recitations that have come to dominate both policy analysis and academic research on liberalization.This is the first detailed study in the modern era of telecom reform focusing on regulatory capture for the primary purpose of assisting dominant home operators in international and foreign markets.” – William H. Melody, TelecomReform