This groundbreaking research book looks at the changing global economy through legal phenomena, specifically at the changes in legal orders since the 2000s. The edited volume scrutinizes the past, present and the future and discusses what the global legal order in economic fields after the Covid-19 pandemic could be like. The book addresses six main themes: (1) Polarization and diversification of values, progress of regionalism and restructuring of multilateral rules, (2) Full-scale arrival of the digital economy and its impact, (3) Empowerment of private persons/entities, (4) Reconsideration of the concept of "territorial jurisdiction", (5) Law of national security and rule in emergency situations, (6) Values of SDGs in trade and investment liberalization rules. The book also examines various legal problems under the Covid-19 crisis and suggests how the post Covid-19 global economic order will be from the perspective of Asia and/or Japan. This comprehensive insight will shed light on intertwined and complex phenomena of world economy and allow readers of business law and international law to have a better understanding of this volatile era.

This groundbreaking research book looks at the changing global economy through legal phenomena, specifically at the changes in legal orders since the 2000s. The edited volume scrutinizes the past, present and the future and discusses what the global legal order in economic fields after the Covid-19 pandemic could be like. The book addresses six main themes: (1) Polarization and diversification of values, progress of regionalism and restructuring of multilateral rules, (2) Full-scale arrival of the digital economy and its impact, (3) Empowerment of private persons/entities, (4) Reconsideration of the concept of "territorial jurisdiction", (5) Law of national security and rule in emergency situations, (6) Values of SDGs in trade and investment liberalization rules. The book also examines various legal problems under the Covid-19 crisis and suggests how the post Covid-19 global economic order will be from the perspective of Asia and/or Japan. This comprehensive insight will shed light on intertwined and complex phenomena of world economy and allow readers of business law and international law to have a better understanding of this volatile era.

This book brings together foreign investment and investment arbitration in Asia, the fastest growing economic region in the world. It provides a critical analysis of foreign investment, its benefits and the legal regimes of the jurisdictions studied at a time when investor-state disputes are on the rise and investment arbitration is under growing scrutiny. Governments are under greater pressure to balance the promotion of investment with public policy development and interests and calls for a permanent court for investment arbitration are getting louder.To assess future possibilities, this book takes stock of, brings together and analyses the legal regimes on foreign investment in 12 major Asian jurisdictions, namely China, Hong-Kong, India, Indonesia, Japan, South Korea, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. These constitute paradigmatic examples of what is happening in the legal framework of Asian foreign investment and the impact that the current system of investment arbitration has in all of them. The analysis shows the existence of changing positions and degrees of openness towards foreign investment in the region, as well as a distinct level of exposure to and involvement in investment arbitration.Predictably, their situation will change in the near future, at least in relation to investment arbitration. Proposals for reform have already been made and international institutions are working on the development of an alternative to the proceedings of investment arbitration as it is currently constructed and understood. Consequently, the last two chapters of this book are devoted to the analysis of these developments that will most probably affect the existing situation in the region.