To betterunderstandtherulesofthe Agreement on Safeguards (AS) to guidethe judicial practice, this papergives an overall examination on the legal issuesof the application of "increased import".
But, on balance, Ms Zheng calculates that the boost to exports from a 12-15% devaluation might deliver an extra 1.1% of growth, even if offset against increasedimport and debt-service costs.