Springer Dispute Resolution Mechanism for the Belt and Road Initiative

Product Description This book examines resolution of the disputes between both sides of Belt and Road economic cooperation. To address the problems surrounding legal guarantee and dispute resolution, the International Academy of the Belt and Road has gathered almost 50 experts from over 30 Belt and Road countries and regions to utilize current advances in the dispute resolution mechanism, taking into account the legal systems, legal environment and historical and cultural characteristics of Belt and Road countries and regions. The dispute resolution mechanism presented advocates giving priority to mediation when a dispute arises―arbitration is necessary only when mediation is ineffective. In addition, arbitration should be highly transparent, show respect to both contracting parties, and be equipped with an appeal system.  This hands-on book offers detailed explanations of mediation rules, arbitration rules and appeal procedures. On the one hand, this mechanism embodies the integration of the cultures, traditions, legal systems, legal values and legal thoughts of Belt and Road countries and regions. On the other hand, it highlights the importance of mediation, which not only is the idea of oriental culture carrying forward traditional Chinese culture, but also follows the trend of dispute resolution. As a result, the dispute resolution mechanism established in this book is beneficial to the development of the Belt and Road Initiative. From the Back Cover This book examines resolution of the disputes among the parties to the Belt and Road economic cooperation. To address the related issues, the International Academy of the Belt and Road gathered about 50 experts from over 30 Belt and Road countries and regions to formulate a dispute resolution mechanism for the Belt and Road Initiative by taking into account the legal systems, legal environment, legal history, tradition and cultural characteristics of the countries and regions concerned. The dispute resolution mechanism jointly presented advocates mediation as the primary means for resolving disputes. Only when mediation could not result in a fruitful solution would arbitration be employed. In case of investor-state arbitration, the mechanism indicates that it should be conducted transparently to meet the expectation of accountability of the host state. It also has a built-in appeal procedure for investor-state arbitration. This hands-on book offers detailed explanations of the mediation rules, arbitration rules and appeal procedures. On the one hand, this mechanism embodies the integration of the cultures, traditions, legal systems, legal values and legal thoughts of the Belt and Road countries and regions. On the other hand, it highlights the importance of mediation, which is part of the Chinese and other oriental cultures and reflects the trend of the contemporary world. The dispute resolution mechanism established in this book will not only contribute to the development of the Belt and Road Initiative but also the world dispute settlement enterprise as a whole. About the Author Guiguo Wang is University Professor and Scholar of “1000 Talents”, Zhejiang University, in Hangzhou, China; President of International Academy of the Belt and Road (Hong Kong, China); EasonWeinmann Chair of International and Comparative Law, School of Law, Tulane University, in New Orleans, USA .  Yuk Lun Lee is Vice President of International Academy of the Belt and Road (Hong Kong, China); chairman(2017/2018)of Tung Wah Group of Hospital; Honorary Permanent President of Hong Kong Commerce and Industry Associations, China.  Mei-Fun Leung is Vice President of International Academy of the Belt and Road (Hong Kong, China); Associate Professor of City University of Hong Kong; member of Hong Kong Legislative Council; Chair of Hong Kong Basic Law Education Association, China.