A New Chinese Economic Order?
This article reports on the new and decentralized trade governance model that China is building by exploiting finance, trade, and investment initiatives. Memorandums of understanding, contracts, and trade and investment treaties are creating a hub and spokes legal order with China at the center. The piece initially examines China’s use of state-owned and private enterprise investments and commercial contracts to export its infrastructure-based development model. It then looks at China’s use of free trade and investment agreements as well as domestic innovation policy to complement this. Ultimately, the piece shows how China is transforming the international legal environment for trade.
This piece originally appeared as: Gregory Shaffer and Henry Gao, “A New Chinese Economic Order?” Journal of International Economic Law 23, no. 3 (2020): 607-635. Copyright remains with the original holder.