The Developing World of Arbitration
Edited by Anselmo Reyes and Weixia Gu
The 21st Century has been heralded as the Asian Century. In the not too distant future, the global economy will pivot towards the Asian region, with its enormous growth potential and economic development. The exponential growth of arbitration in Asia is symptomatic of its rising importance in the global economy. The release of this treatise could not be timelier, capturing the zeitgeist of the 60th anniversary of the New York Convention. This year also marks the fifteenth anniversary of the ASEAN-China Strategic Partnership.
Edited by a preeminent international jurist and a highly regarded academic, The Developing World of Arbitration examines the recent emergence of Asia Pacific jurisdictions as regional or international arbitration centres, owing to various reform efforts whether top down, bottom up, or a combination of both. This book provides a detailed yet concise study of arbitration law and practice in the twelve Asia Pacific jurisdictions it traverses.
Setting the arbitration systems and reforms of each jurisdiction against the backdrop of social, economic, political, and judicial dynamics, this book presents, for the first-time, a cross-jurisdiction comparative and contextual study of the developing world of arbitration in the Asia Pacific. It is an invaluable contribution to comparative international arbitration scholarship from an Eastern vantage point. It also aims to identify an Asia Pacific model of arbitration reform, one that may differ from a Western approach, and predicts future trajectories of development. Indeed, there is no “end of history” where international arbitration is concerned. While the current legal and regulatory framework for arbitration is an Anglo-American one, this book posits that the rising influence of Asia may result in a trend of more bespoke rules tailored to cultures in the region.
This multi-jurisdictional study will be an invaluable source of information for both academics and practitioners. For the busy practitioner, this book gives the reader a useful primer into arbitration practice in various Asia Pacific jurisdictions. Especially if for instance one needs to advise on the enforceability of an arbitral award in various jurisdictions in the region, with this book the relevant information would be at one’s fingertips. At the same time, the combination of theoretical analysis and practical insights makes this treatise also useful for both academics and scholars.
There is a growing preference of arbitration users in the region for a neutral Asian seat that is geographically closer. By presenting the smorgasbord of Asian arbitration centres, this treatise could well serve to attract arbitration to the region and increase Asia’s share of the international arbitration pie. One jurisdiction that could perhaps have been included is Thailand, which is one of the first contracting Asian states to the New York Convention, having been a signatory since 1959.