Arbitration and the Global Economy: The Challenges Ahead
THE NEW EUROPE IN THE WORLD ECONOMY, R. Taylor, R. Katz, L. Walsh, eds., ISC/ICC Publishing, 2000
Journal of International Arbitration, Vol. 17, No. 4, 2000, [under the title 'Arbitration and the Challenge of Globalization']
10 Pages Posted: 14 Feb 2009
Date Written: December 1, 2000
Abstract
The increase in international business transactions resulting from globalization lays a challenge before the international arbitration community in the form of the sheer volume of international business disputes which actors wish to see settled out of court. International business transactions - and the disputes to which they inevitably give rise - have not only multiplied. They also tend to bring increasingly complex issues to arbitration, pushing traditional methods, procedures and ways of thinking to their limits and thereby accelerating their evolution. Globalization also brings arbitration to countries and regions of the world where it was previously unknown and which are often ill prepared for its arrival, causing gaps which urgently need filling. This brief paper attempts to set forth some of the issues that will require special attention in the years to come if arbitration and related means of dispute resolution are to continue to grow.
Keywords: International Arbitration, Commercial Arbitration, Alternative Dispute Resolution, ADR, Globalization, New York Convention, DOCDEX, SMEs, UNCITRAL, Uniform Law, Small Claims, Harmonization, Law Reform.
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