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/lp/springer-journals/a-legal-analysis-of-the-belt-and-road-initiative-international-ms83yNW7TC
- Publisher
- Springer International Publishing
- Copyright
- © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2020
- ISBN
- 978-3-030-45999-4
- Pages
- 45 –68
- DOI
- 10.1007/978-3-030-46000-6_4
- Publisher site
- See Chapter on Publisher Site
Abstract
[International trade, competition, investment, social and environmental laws need new rules in order to better take into account the risks of market failures and governance failures (including climate change) in relations between neoliberal economies (e.g. in Africa, the Americas and Asia), state-capitalist economies (e.g. in China and many of its Asian BRI partner countries) and ordo-liberal economies (e.g. in Europe). The more globalisation transforms national into transnational public goods (PGs) (like transnational connectivity among BRI countries, climate stability) which no state can unilaterally protect without international law and cooperation, the more multilevel governance of transnational PGs requires multilevel protection of transnational rule of law; also the legitimacy of economic, financial and investment cooperation in the implementation of BRI projects depends on rules-based legal frameworks, impartial dispute settlement procedures, predictability and compliance of governance with the ‘rule of law’.]
Published: May 30, 2020
Keywords: International settlement; Trade; Investment; EU; BRI