CDR Essential Intelligence: The Belt and Road Initiative: 4
English
The fourth edition of Essential Intelligence: The Belt and Road Initiative finds the initiative in a time of transition.
President Xi Jinpings speech at last Octobers Third Belt and Road Forum for International Cooperation refreshed the schemes direction. For Xi, the new emphasis on cooperation, digital connectivity, environmental development and practical improvements forms a natural progression after a decades heavy infrastructure groundwork and offers a way to have an impact on the lives of people around the world. Those participating in the initiative, meanwhile, will hope that it leads to tangible development opportunities in a difficult global economy.
From a legal perspective, only time will tell how this evolution will manifest itself. Perhaps a higher volume of smaller projects will mean a higher volume of smaller disputes, or perhaps a greater spirit of cooperation will emerge, as the Chinese government obviously hopes, leading to fewer disputes overall.
Regardless, there will clearly be an advantage to courts, arbitral institutions and other dispute resolution centres which can respond quickly and flexibly to questions over environmental and digital technologies, in particular.
The other spectre which could impact the scheme is political change abroad. This is 2024, the year of elections, during which almost half of the worlds population goes or has already gone to the polls. Whether changes in political momentum, most notably in the United States later this year, affect current tensions between East and West, and what impact that has on the financing and execution of Belt and Road projects, will be much analysed.
For now, there is plenty for the lawyers to consider, including keeping legislation, civil procedure and arbitral rules up to date, and building the right relationships to ensure that when Belt and Road-related disputes do arise, they are ready.
Thank you once again to contributing editors Dr Colin Ong KC, Walter Chen SC of Grandall Law Firm and Stephen Jagusch KC of Quinn Emanuel Urquhart & Sullivan for their continued support for this publication, and to all of our contributors for their insights.
For regular international dispute resolution news and analysis from around the world, please visit www.cdr-news.com. See more
President Xi Jinpings speech at last Octobers Third Belt and Road Forum for International Cooperation refreshed the schemes direction. For Xi, the new emphasis on cooperation, digital connectivity, environmental development and practical improvements forms a natural progression after a decades heavy infrastructure groundwork and offers a way to have an impact on the lives of people around the world. Those participating in the initiative, meanwhile, will hope that it leads to tangible development opportunities in a difficult global economy.
From a legal perspective, only time will tell how this evolution will manifest itself. Perhaps a higher volume of smaller projects will mean a higher volume of smaller disputes, or perhaps a greater spirit of cooperation will emerge, as the Chinese government obviously hopes, leading to fewer disputes overall.
Regardless, there will clearly be an advantage to courts, arbitral institutions and other dispute resolution centres which can respond quickly and flexibly to questions over environmental and digital technologies, in particular.
The other spectre which could impact the scheme is political change abroad. This is 2024, the year of elections, during which almost half of the worlds population goes or has already gone to the polls. Whether changes in political momentum, most notably in the United States later this year, affect current tensions between East and West, and what impact that has on the financing and execution of Belt and Road projects, will be much analysed.
For now, there is plenty for the lawyers to consider, including keeping legislation, civil procedure and arbitral rules up to date, and building the right relationships to ensure that when Belt and Road-related disputes do arise, they are ready.
Thank you once again to contributing editors Dr Colin Ong KC, Walter Chen SC of Grandall Law Firm and Stephen Jagusch KC of Quinn Emanuel Urquhart & Sullivan for their continued support for this publication, and to all of our contributors for their insights.
For regular international dispute resolution news and analysis from around the world, please visit www.cdr-news.com. See more
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