China's Belt and Road Initiative: Challenges For Arbitration In Asia
Author: Patrick M. Norton
Source: University of Pennsylvania Asian Law Review, Vol. 13, Issue 2 (2018), pp. 72-101
Extract: The focus of international arbitration has begun to shift to Asia in the wake of that continent's increasingly prominent role in cross-border trade and investment. China's ambitious Belt and Road Initiative ("BRI")2 promises to exacerbate this trend. The BRI will require a broad range of complex, inter-related commercial transactions with significant political and economic ramifications. These transactions can be expected to generate both commercial and investor-state disputes, principally in Asia, and many of these disputes will be submitted to arbitration. This article considers the significant challenges that these developments will present for international arbitration.
Perceptions of Residents in Xinjiang, Urumqi towards Tourism Development through China's Belt and Road Initiative
Author: Chan, Grace Suk Ha; Tang, Irini Lai Fun; Zhang, Mosa Wenxian
Source: Journal of Management and Sustainability, Vol. 8, Issue 1 (2018), pp. 59-74
Extract: China's Belt and Road Initiative (BRI) clearly reads as an audacious vision for transforming the political and economic landscapes of Eurasia and Africa over the coming decades via a network of infrastructure partnerships across the energy, telecommunications, logistics, law, Information and Technology, transportation and tourism sectors. The BRI prioritises people-to-people connection. Various countries and cities will benefit from promoting cultural nationalism and local civic identities. The joint project of Belt and Road (B&R) embraces the trend towards a multi-polar world, economic globalization and cultural diversity for upholding global free trade, allocating many resources and deeply integrating marketers. The BRI is a remarkable example of the borderless nature of infrastructure development. This initiative aims to foster economic growth and investment along the ancient Silk Road trading route between Europe and the East. For instance, in Xinjiang, Urumqi, various resources promoting the culture of the area add value to the tourism industry. This study adopted a descriptive research design that encompasses a qualitative approach and addressed the residents' perception and attitude towards tourism. In-depth interviews with residents were conducted. Recommendations were made for destination marketers and governmental practitioners on how to improve and facilitate tourism industry for Xinjiang, Urumqi.
Legal challenges to the belt and road initiative
Author: Guiguo Wang
Source: Journal of International and Comparative Law, Vol. 4, Issue 2 (December 2017), pp. 309-330
Abstract: The "Belt and Road" (BR) initiative, which the Chinese Government officially announced in 2013, has generated much excitement not only within China but also internationally. The BR aims at promoting economic cooperation among the countries which are covered by it, and naturally the discussion relating to the BR has focused mainly on the economic aspects. There has been little discussion of its legal aspects despite the potential impact that economic cooperation among the BR countries will have on the rights and obligations of participants. Of special concern is the need to ensure the availability of timely and effective remedies for breaches of treaty and other obligations. While it is unrealistic to expect a comprehensive legal instrument in place at these initial stages, the BR must work towards eventually adopting a legal framework applicable to all the participating countries. This article examines features of globalisation in the context of which the BR initiative was introduced, the challenges that it is likely to face, possible measures to meet some challenges and more generally the perspectives of the BR.
From Geopolitical Chance to Security Threat: Polish Public Political Discourse on the One Belt One Road Initiative
Author: Lubina, Michal
Source: Polish Political Science Yearbook, Vol. 46, Issue 1 (2017), pp. 221-238
Extract: This article deals with public, political discourse over One Belt One Road (OBOR) initiative in Poland. OBOR has recently become very popular in Poland as it encapsulates the noticeable fascination on China and on geopolitics among parts of Polish society. This article describes this phenomenon and delaminates the mainstream political discourse over OBOR into two main strands: great geopolitical and/or geoeconomic chance (pro-OBOR discourse) and security threat (anti-OBOR). The advocates of the former see the project as a great geopolitical and economic opportunity for Poland; the supporters of the latter find it a threat to Polish security and/or economic interests. This discourse echoes internal divisions within current Polish government on its China policy and can be observed against the background of China's dynamic enter to Central and Eastern Europe, particularly to Czech Republic, Hungary and Serbia.
One Belt, One Road: New Interfaces between Trade and International Investments
Author: Rodrigues Bruno, Flavio Marcelo; de Sa Ribeiro, Marilda Rosado
Source: Brazilian Journal of International Law, Vol. 14, Issue 2 (2017), pp. 193-215
Extract: The present article has as starting point a new geoeconomy of the trans- continental routes, giving possibility to revisit the fundamental precepts of the international investments in light of the international trade. In this sense, the article is structured in three chapters, the first proposes a historical survey of commercial relations in terms of international investments, the second invites to an immersion under the perspectives that involve the concept of international investments, and in the third and final chapter of the study, the guidelines of the International Investment Law are presented. It is the incursion to the announcements coming from the Asian movements of cooperation and world-wide economic development, that a cell of international investments can be found. It is argued that, because it is a con- temporary re-reading of foundational precepts of an important branch of International Law, the pretensions of this study are not exhausted, but it is plausible to demonstrate that geoeconomic mutations, such as that occurring with the project One Belt, One Road (OBOR), closely related to an important aspect of International Law, which is International Investment Law, makes it an object of constant analysis.
The Human Security Dimension of China's Belt and Road Initiative
Author: Dellios, Rosita; Ferguson, R. James
Source: Journal of Management and Sustainability, Vol. 7, Issue 3 (2017), pp. 48-62
Extract: Despite the geopolitical calculations associated with China's Belt and Road Initiative, and how this will allow Beijing greater influence in transregional relations, the human security dimension goes to the heart of China's wider regional strategy. The importance of development cannot be understated even as the "rise of China" attracts the headlines. How well Beijing can engage wider human security concerns will be crucial for the success of this megaproject. It is argued that the human security aspect of China's Belt and Road Initiative requires a stronger ethical base-one which draws on China's own Confucian heritage. This allows for both cultural inclusiveness and the promotion of higher levels of trust towards Beijing's policies and intentions.
The Influence of Changes of Islam and Politics Relations in 20th Century on the Strategy of Belt and Road
Author: Li, Yan
Source: Journal of Management and Sustainability, Vol. 7, Issue 3 (2017), pp. 48-62
Extract: In the early twentieth century, with the independence of the Islamic nations, the religion of Islam withdrew from the traditional unification of religion and state (caesaropapism) to private life. The secularization of Islam has taken its course and its political characteristics have weakened. In the process of globalization of economy, politics and culture, the development of all countries became uneven and imbalanced. In the mid-to-late 20th century, it turned out that the secularization and modernization advocated by the nationalist had failed to effectively solve the development problems which the Muslim countries faced. This made Islam continue to strengthen its position in both domestic and international political life of Muslim countries. The traditional religious identity has become a powerful tool for the domestic cohesion and international fight against power. The analysis of the changes of Islamic religion and politics relations in 20th century can help to understand and reflect on the frequent ethnic and international conflicts in the world at present. Such changes will also affect the development strategy of China's Belt and Road initiative.
Does Europe Matter? The Role of Europe in Chinese Narratives of ‘One Belt One Road’ and ‘New Type of Great Power Relations’
Author: Jinghan Zeng
Source: Journal of Common Market Studies, Vol. 55, Issue 5, pp. 1162-1176, 2017
Extract: The rise of China as a global power has significantly reshaped its global ambition. Under the leadership of Chinese president Xi Jinping, China has proposed a series of diplomatic initiatives – most notably ‘new type of great power relations’ and ‘one belt one road’ – in order to shift the international order in its favour. Does Europe matter in China’s major initiatives under the leadership of Xi Jinping? How does Europe (and the EU) fit into China’s strategic narratives? This article aims to address these questions by analyzing Chinese scholarly writings and conducting interviews in China. It also explores the evolution process of China’s strategic narratives with a focus on the gradual appearances of Europe. This article argues that the EU/Europe is a second order concern for China, and Europe only plays a marginalized role in China’s policy discussion. Appreciation of the internal dynamics of China is essential for Europe to develop a more accurate understanding of EU–China relations.
Rising Renminbi and the Neo-Global Financial Governance in the Context of 'One Belt One Road' Initiative: A Changing Game or Minor Supplement?
Author: Shen Wei
Source: (2017) 32(1) Journal of International Banking Law and Regulation 10-21
Extract: China announced its “one belt one road” initiatives, that is, “the Silk Road Economic Belt and the 21st Century Maritime Silk Road” Initiatives, in September 2014, right before the APEC summit held in Beijing in the same year. The Initiative has been interpreted as China’s version of Marshall Plan. The alternative understanding of this Initiative is to view it as one of the key pillars that counter the US-led Bretton Woods system. This article tries to understand if the Initiative can be used to solidify China’s efforts to frame a renminbi-centered global financial governance regime along with its aggressive stance in internationalising renminbi. From a realistic perspective, deepening China’s financial connections with the countries covered by the One Belt One Road Initiative as well as the IMF is critically important for broadening the use of renminbi in the global markets.
Towards a Silk Road Union?
Author: Zhenis Kembayev
Source: Chinese Journal of International Law, Volume 15, Issue 3, 1 September 2016, Pages 691–699
Extract: 1. During his speech in Astana on 7 September 2013 and a few days later at the summit of the Shanghai Cooperation Organization (SCO) in Bishkek on 13 September 2013, Chinese President Xi Jinping put forward an initiative foreseeing the establishment of the Silk Road Economic Belt (SREB) and, for that purpose, called for strengthening the cooperation between the SCO and the Eurasian Alliance.1
2. It is clear that the SREB has two major dimensions: “the Road” and “the Belt” and, accordingly, pursues the following two main objectives. First, it aims to revive the Silk Road, the ancient trade route linking the East and the West. Second, it aspires to create an “Economic Belt”, i.e. an association of countries along the Silk Road (or, in other words, a Silk Road Union).
3. It is not incidental that the Chinese leader launched his initiative in Kazakhstan and Kyrgyzstan. Both countries are enthusiastic supporters of Chinese economic pro- grams and are situated in the heart of Eurasia, a region encompassing a number of the former Soviet republics and conceivably offering the shortest route from China to Europe. Moreover, both Kazakhstan and Kyrgyzstan are active members of both the SCO and the Eurasian Alliance, two potential pillars of a future transcontinental association.
Silk Road Economic Belt: Can Old BITs Fulfil China’s New Initiative?
Author: Zhenis Kembayev
Source: Journal of World Trade, Issue 4, pp. 733–754，08/2016, 卷 50, 期 4
Extract: The 'Silk Road Economic Belt' (SREB) Initiative is the focal point of China's 'Belt and Road' national strategy. This article explores the feasibility of the SREB initiative from the perspective of international investment law. Sixty-one Bilateral Investment Treaties (BITs) were concluded between China and SREB countries and thirty-eight of them were signed in the 1990s or before. By a statistical research method, this article argues that these thirty-eight BITs may not fulfil the SREB initiative because of their insufficiencies in three aspects: ambiguous definitions of 'investor' and 'investment', no national treatment and limited investor-state dispute resolution mechanism. By referring to recent BITs/ Free Trade Agreement (FTAs) concluded by China, such as the China-Korea FTA and the China-Australia FTA, this article suggests solutions to revise these old BITs.
Towards Greater Integration? Legal and Policy Directions of Chinese Investments in Pakistan on the Advent of the Silk Road Economic Belt China J Comp Law
Author: Dr Ahmad Ghouri
Source: Chin J Comp Law (2015) doi: 10.1093/cjcl/cxv019
Extract: Pakistan has an enduring friendship with China, and the two countries have long-standing economic ties. There is an existing strong investment flow between the two countries, but the new Chinese Silk Road Economic Belt (SREB) initiative and its offshoot China-Pakistan Economic Corridor (CPEC) will substantially increase the flow of Chinese investments in Pakistan. In the auspices of the SREB, China will finance its companies to build a comprehensive regional transportation network in order to stimulate economic growth and social development. The SREB Action Plan has a more viable strategy for long-term development as compared with the existing regional economic integration and development models, and the CPEC will undoubtedly create numerous opportunities for the two countries. A scrutiny of the Chinese policies to invest in Pakistan and the prevalent strong bilateral regime for investment promotion and protection suggest that China-Pakistan investment relations reflect a move towards much deeper economic integration. However, the various legal and policy orientations of these Chinese projects reveal serious challenges in reaching the overall vision, harnessing it with the intended objectives, and enhancing the legitimacy of its implementation strategies. There is a need for proactive solutions for the transnational problems that the CPEC and the SREB are going to generate.
Virtual Currencies: Bitcoin & What Now after Liberty Reserve and Silk Road?
Author: Lawrence J. Trautman
Source: Richmond Journal of Law and Technology, Vol. 20, No. 4, 2014.
Extract: During 2013, the U.S. Treasury Department evoked the first use of the 2001 Patriot Act to exclude virtual currency provider Liberty Reserve from the U.S. financial system. This article will discuss: the regulation of virtual currencies; cybercrimes and payment systems; darknets, Tor and the “deep web;” Bitcoin; Liberty Reserve; Silk Road and Mt. Gox. Virtual currencies have quickly become a reality, gaining significant traction in a very short period of time, and are evolving rapidly. Virtual currencies present particularly difficult law enforcement challenges because of their: ability to transcend national borders in the fraction of a second; unique jurisdictional issues; and anonymity due to encryption. Due primarily to their anonymous characteristic, virtual currencies have been linked to numerous types of crimes, including facilitating marketplaces for: assassins; attacks on businesses; child exploitation (including pornography); corporate espionage; counterfeit currencies; drugs; fake IDs and passports; high yield investment schemes (Ponzi schemes and other financial frauds); sexual exploitation; stolen credit cards and credit card numbers; and weapons. Innovation in the pace of development of new currencies and technologies continue to create ongoing challenges for responsible users of technology and regulators alike. While technological advances create great opportunities to improve the health, living conditions, and general wellbeing of mankind; new technologies also create great challenges for nation states.
Uzbekistan: the silk road to nowhere?
Author: M.C. Spechler
Source: Contemporary Economic Policy, Volume 18, Issue 3, July 2000
Extract: The Central Asian country of Uzbekistan has adopted a unique transition strategy of gradual, state-guided development in which stability and equality are principal objectives and in which growth is sought for now by exporting staple raw materials and importing capital equipment to assure energy independence and to invest in backward-linkages into cotton fabricating, chemicals, and other manufacturing branches. Sharp criticisms of the 'Uzbek Road' by multinational agencies unfairly neglect positive aspects of the transition record to date in comparison with other post-Soviet states of the area.