China’s Belt and Road Development and a New International Commercial Arbitration Initiative in Asia

48 Pages Posted: 27 Mar 2019 Last revised: 17 Jan 2020

See all articles by Weixia Gu

Weixia Gu

University of Hong Kong - Faculty of Law

Date Written: 2018

Abstract

The policy centerpiece of President Xi Jinping’s foreign strategy, China’s Belt and Road Initiative (BRI), ambitiously aspires towards expanding regional markets and facilitating regional cooperation. In context of a rising volume of cross-border transactions generated by the BRI, a robust legal framework on dispute resolution is required to forge investor confidence and enable BRI’s integral goal of economic integration. In light of the substantial levels of harmonization among arbitration laws, arbitration is argued to constitute a primary vehicle of international commercial dispute resolution in an economically integrated Asia under the BRI. It is against this backdrop that the Article argues that the BRI provides a unique opportunity to contemplate the possibility of regional harmonization, as within the Asian economies along the BRI, of the public policy exception to arbitral enforcement. Such an arbitration initiative in Asia, in which China is anticipated to take a proactive role, holds a wealth of potential to project renewed momentum on China as an engine of not only economic power, but also soft power transformation in pioneering international legal norms.

Keywords: Arbitration, China, Belt and Road Initiative, Harmonization

JEL Classification: K49

Suggested Citation

Gu, Weixia, China’s Belt and Road Development and a New International Commercial Arbitration Initiative in Asia (2018). Vanderbilt Journal of Transnational Law, Vol. 51, No. 5, 2018, University of Hong Kong Faculty of Law Research Paper No. 2019/012, Available at SSRN: https://ssrn.com/abstract=3346924

Weixia Gu (Contact Author)

University of Hong Kong - Faculty of Law ( email )

Pokfulam Road
Hong Kong
China

HOME PAGE: http://hub.hku.hk/rp/rp01249

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