This 28-chapter volume brings together academics and practitioners to provide a comprehensive legal, economic and political analysis of the Belt and Road (BRI) initiative that has emerged since 2013 as a key feature of China’s international economic policy. It offers a fundamentally novel approach towards international trade, investment and global governance in an unsettled time of shifting geopolitics when many institutions developed in the West are being called into question. The book covers a broad range of BRI-related international economic law and policy issues, including trade facilitation and connectivity, economics and geopolitics of new trade routes, foreign direct investment law, bilateral investment treaties, free trade agreements, financing of infrastructure, development aid, international dispute resolution, and regional economic integration.
Julien Chaisse, Ph.D. (2008), is Professor of Law at City University of Hong Kong (CUHK) and Advisory Board Member, Asian Academy of International Law (AAIL). His publications include China's International Investment Strategy (Oxford University Press, 2019), International Investment Treaties and Arbitration Across Asia (Brill/Nijhoff, 2017) and International Economic Law and Governance (Oxford University Press, 2016).
Jędrzej Górski, Ph.D. (2016) is a research fellow and Ph.D. candidate in international relations at the City University of Hong Kong. Formerly research associate at UCL Australia (2017), Endeavour Research Fellow at MLS (2014) and associate at CMS (2010-2012).
"This book is essential reading for anyone who wants to better understand the Belt and Road Initiative and how it will define law, economics, and politics in the years to come." - Patrick W. Pearsall, Fmr. Chief of Investment Arbitration, United States of America "This is a big book on a very big subject. The editors have assembled informative and cogent essays on four broad aspects of the BRI. They are: the geopolitical dynamics that shape the BRI; the thrust of outward investment from China through the BRI; the facilitation of international trade in the BRI region; and the emerging mechanisms for dispute resolution and commercial mediation. Half of the chapters were published previously and deserve wider spread, and half are written new for this book. [..] Even discounting for inevitable hype about the BRI, this signature global initiative by China will likely be a very consequential feature of the emerging global economic system in the 21st century. If you want to get your mind around this massive project, this is the book you need to have in your hand. Highly recommend." - Glenn Shive Ph.D, Executive Director, Hong Kong America Center
List of Abbreviations List of Figures and Tables Notes on Contributors
1Introduction Julien Chaisse and Jędrzej Górski
Part 1: The Foundations of the Belt and Road Initiative
2One Belt One Road (“
”) Roadmaps: The Legal and Policy Frameworks Donald J. Lewis and Diana Moise 3The Political Economy of
and the Global Economic Center of Gravity Usman W. Chohan 4The
Global Geopolitical Drive: The Chinese Access Security Strategy Francisco José Leandro 5It is Not the End of History: The Financing Institutions of the Belt and Road Initiative and the Bretton Woods System Maria Adele Carrai 6Northern Sea Route: An Alternative Transport Corridor within China’s Belt and Road Initiative Vasilii Erokhin and Gao Tianming 7The Effect of the “Belt and Road Initiative” on along Countries’ Employment LU Yue, JIA Yingqi and TU Xinquan 8Challenges and possible responses of the Eurasian Economic Union to the Belt and Road Initiative Alexander Mikhaylenko
Part 2: Towards the Expansion of Chinese Outward Investment
9What is One Belt One Road? A Surplus Recycling Mechanism Approach Usman W. Chohan 10The International Investment Agreement Network under the “Belt and Road” Initiative Anna Chuwen Dai 11Paving the Silk Road
: An Analysis of Investment Protection for Chinese Infrastructure \ Projects under the Belt & Road Initiative LAI Huaxia and Gabriel M. Lentner 12The Role of Chinese State-Owned Investors and
-Related Investments in Europe: The Implication of the China-EU
YIN Wei 13National Security Review of Chinese Foreign Direct Investment (‘
’) into the Cooperation Council for the Arab States of the Gulf (‘
’): Challenges and Opportunities Bashar H. Malkawi and Joel Slawotsky 14A Domestic National Controls a Foreign Investor in Investment Arbitration: In Light of China’s Negative Lists ZHANG Anran
Part 3: The International Trade Issues of the
15“Unimpeded Trade” in Central Asia – A Trade Facilitation Challenge Joanne Waters 16One Belt, One Road Initiative into a New Regional Trade Agreement: Implication to the
Dispute Settlement System Sungjin Kang 17
Initiative: A New Model of Development Aid? Tymoteusz Chajdas 18Turning doors – Piracy, Technology and Maritime security along the Maritime Silk Road Helen Tung 19Infrastructure Investments: Port, Rail, and International Economic Rules Karlok Carlos Li and Julien Chaisse 20Development Banks as Environmental Governance Actors: The
’s Power to Promote Green Growth Flavia Marisi 21Stakes and Prospects of the Right to Free, Prior & Informed Consent in ‘One Belt One Road’ Projects in the Context of Transnational Investment Law and Arbitration Anna Aseeva and YIP Ka Lok 22Central and Eastern Europe, Group 16+1 and One Belt One Road: The Case of 2016 Sino-Polish Comprehensive Strategic Partnership Jędrzej Górski
Dispute Resolution: Directions for the Future
23Some Considerations on the Civil, Commercial and Investment Dispute Settlement Mechanisms between China and the Other Belt and Road Countries ZHU Weidong 24International Commercial Mediation, an Opportunity for
Giovanni Matteucci 25Energy Dispute Settlement and the One Belt One Road Initiative (‘
’) MA Sai 26The Energy Charter Treaty and Central Asia: Setting an International Standard for Energy-Related Disputes Maria Bun 27Central Asian Investment Arbitration and
– Learning from the Current Investment Climate Mariel Dimsey 28China’s Maritime Silk Road and the Future of African Arbitration Aweis Osman
Academics in law, Asian studies, international relations, political economy; postgraduate students; policy-makers in national bodies, international organisations and NGOs; and legal practitioners.