A New Chinese Economic Order?

30 Pages Posted: 12 Apr 2019 Last revised: 4 Sep 2020

See all articles by Gregory Shaffer

Gregory Shaffer

University of California, Irvine School of Law

Henry S. Gao

Singapore Management University - School of Law

Date Written: April 11, 2019

Abstract

China is incrementally developing a new, decentralized model of trade governance through a web of finance, trade, and investment initiatives involving memorandum of understanding, contracts, and trade and investment treaties, supported by an indigenous innovation policy that is transnational in its reach. In this way, China could create a vast, Sino-centric, legal order in which the Chinese state plays a nodal role. It is a hub and spokes model, with China at the hub. In this article, we first examine China’s export of an infrastructure-based development model, implemented through Chinese state-owned and private enterprise investments and commercial contracts (Part B), before turning to China’s development of a complementary web of free trade and investment agreements (Part C), and an indigenous innovation policy (Part D). The paper theorizes and empirically traces how these Chinese initiatives shape the evolving ecology of the transnational legal order for trade.

Suggested Citation

Shaffer, Gregory C. and Gao, Henry S., A New Chinese Economic Order? (April 11, 2019). Journal of International Economic Law, forthcoming, 2020, UC Irvine School of Law Research Paper No. 2019-21, Singapore Management University School of Law Research Paper No. 31, Available at SSRN: https://ssrn.com/abstract=3370452

Gregory C. Shaffer (Contact Author)

University of California, Irvine School of Law ( email )

401 E. Peltason Dr.
Ste. 1000
Irvine, CA 92612
United States

Henry S. Gao

Singapore Management University - School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

HOME PAGE: http://www.law.smu.edu.sg/faculty/law/henrygao.asp

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