Rule of Law Gaps and the Chinese Belt and Road Initiative: Legal Certainty for International Businesses?
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This chapter discusses rule of law challenges and opportunities for the BRI from the perspective of businesses. First, the chapter introduces the concept of the rule of law and its relevance for businesses. The rule of law is a contested concept and it is necessary to make some normative choices in defining the functions of the rule of law. In addition, the rule of law on international level has some challenges with specific rule of law gaps. Nevertheless, as the BRI is not clearly institutionalised, it leaves room for the BRI to engage in these rule of law gaps and to attempt to close them. Second, the chapter addresses the rule of law elements of transparency, access to justice and equality in the light of the BRI principles. The chapter discusses areas where the BRI can improve on its rule of law dimension to benefit businesses.
KeywordsRule of law Belt and road initiative International law Transaction costs
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