Asian Law eJournal最新文献

{"title":"Regulation of Digital Financial Services in China: Last Mover Advantage","authors":"Weihuan Zhou, D. Arner, Ross P. Buckley","doi":"10.2139/SSRN.2660050","DOIUrl":"https://doi.org/10.2139/SSRN.2660050","url":null,"abstract":"Since 1979, China has made tremendous progress in its transformation to a socialist market economy. As part of this process, China’s financial system has evolved to one characterised by a high degree of marketization. At the same time, China today faces new challenges to growth and development, particularly from the necessity of restructuring its economy to focus increasingly on innovation and away from government led investment and low wage labour. In the context of digital financial services, China has been a late mover but this has changed dramatically in the past five years, to the point today where China is one of the major centres for digital financial services and financial technology (“fintech”). Looking forward, China needs to provide an appropriate regulatory basis for the future development of digital financial services and fintech, balancing growth and innovation with financial stability. China today is exhibiting signs of a last mover advantage in this respect that may see it leaping regulatory developments elsewhere.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129421255","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Differential Treatment in the Chinese Labor Market. Is Hukou Type the Only Problem?","authors":"Sargsyan Vahan","doi":"10.2139/ssrn.2685174","DOIUrl":"https://doi.org/10.2139/ssrn.2685174","url":null,"abstract":"Differential treatment towards minority groups in labor markets may be both a result of a governmental registration system that foster unequal rights based on the origins of individuals, and a result of a disadvantageous attitude of both local employers and the general population towards non-locals. We test for differential treatment in the Chinese labor market towards rural migrants with and without urban registration, using data from the Rural to Urban Migration Survey in China. The findings indicate that despite its often assumed large impact on the differential treatment towards rural migrants, the type of household registration (hukou) is not entirely responsible for the local-migrant differences in total hourly incomes which are not attributable to personal characteristics. The results suggest that even the complete abolishment of the hukou system may at most eliminate only a portion of the disadvantageous treatment towards rural female migrants which is not attributable to differences in personal characteristics, and may even have no measurable impact on rural male migrants working in the paid-employment sector in Chinese urban labor markets.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115718985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Enhancing Cross Border Connectivity: Venturing into Islamic Finance as a New Source of Infrastructure Financing","authors":"Saadiah Mohamad, O. Salah, Mafrukhin Mokhtar, Sharifah Faigah Syed Alwi","doi":"10.24191/JEEIR.V3I3.9066","DOIUrl":"https://doi.org/10.24191/JEEIR.V3I3.9066","url":null,"abstract":"Connectivity within Association of Southeast Asian nation (ASEAN) member countries becomes a central issue in view of the ASEAN Economic Community 2015. However, progress towards ASEAN connectivity especially for infrastructure developments has been limited. One of the problems is the resource mobilization for project financing. In recent years, rising demand for Islamic securities among global investors in jurisdictions where legal framework and financial infrastructure are well established has made sukuk a cost effective and preferred method of raising finance. It has also attracted liquidity to and has made Malaysia a leading global sukuk issuer and a leading Islamic financial hub. This paper is a case study on how Malaysia has used the Public-private partnership (PPP) for infrastructure development and how this has extended into Islamic financing and further examines how this model can be expanded into other ASEAN member countries in particular the Cambodia, Vietnam, Laos and Myanmar (CVLM) countries where issues of infrastructure financing is critical and need to be quickly resolved in view of an enhanced ASEAN connectivity and the future of an ASEAN community development.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-08-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130851448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Property Management Company in Housing Institutions","authors":"F. Deng","doi":"10.2139/ssrn.2646399","DOIUrl":"https://doi.org/10.2139/ssrn.2646399","url":null,"abstract":"Property management company (PMC) plays an important role in housing institutions in some countries such as China. Through both theoretical analysis and empirical study in Chongqing, China, I analyze various configurations of PMC in housing institutions. In the case of private community, I argue that “to make or to buy” analogy is only applicable to HOA (Homeowners Association) alone vs. HOA hiring a PMC. The former requires expertise in property management, which cannot be easily obtained where multi-owned housing is the dominant housing type. The sources of efficiency of PMC also include competition among them that forms an efficient market in local governance. In general, it is safe to say that when the scope of services is narrow, PMC can play an important role in local governance.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126427977","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Europe's Lost Appeal? The Greek Debt Crisis and ASEAN Integration Trajectory","authors":"S. Choiruzzad","doi":"10.2139/ssrn.2757549","DOIUrl":"https://doi.org/10.2139/ssrn.2757549","url":null,"abstract":"What the Greek Debt Crisis and the impasse of the European Integration project mean for ASEAN integration? This article argues that there are at least three possible influence of the events in Greece. First, it could be expected that the normative pressures for a liberal trajectory, both internal and external, are going to decline. The EU will be more cautious in using its toolbox for norm diffusion due to its internal problem with Greece. At the same time, the appeal of liberal prescriptions is also becoming less powerful both at global level (due to the last Global Crisis) and at the domestic level. Second, the prominence of realist mode of interaction in the model liberal institution (the EU) as presented in the case of Greece debt crisis might make ASEAN leaders to place their trust more in power-based calculation rather than liberal prescriptions. Furthermore, Southeast Asia is the region that experience the direct impact of China’s rise, US balancing strategy, and Japan’s attempts to ‘normalize’ itself. Third, the case of Greece debt crisis illustrated the phenomenon of “integration overstretch,” a situation where the desire for deepening and enlarging regional institution is not coupled with the willingness or capacity of the members (or its hegemon) to pay for the price. ASEAN leaders might have to learn from this phenomenon closely.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132076868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"China's Shifting Patent Landscape and State-Led Patenting Strategy","authors":"Dan Prud’homme","doi":"10.1093/JIPLP/JPV097","DOIUrl":"https://doi.org/10.1093/JIPLP/JPV097","url":null,"abstract":"The extent to which China is an innovative economy is the topic of ongoing contention in scholarly and practitioner circles. The intellectual property component of China’s technological catch-up strategy has been geared towards first focusing on quantity of outputs and then eventually shifting towards ensuring the quality of outputs. Disconcertingly, in recent years this strategy has created negative impacts on patent quality and thus somewhat may have hampered innovation in China.New Chinese intellectual property policies, and the 2014 phenomena of decreasing annual growth rates of domestic invention patent filings and unprecedented negative growth rates of domestic utility model and design filings, shed new light on this debate. They suggest that recent shifts away from the government strategy of stimulating mere numbers of any type of patent application may be having a tangible impact. Even though science & technology development in China will inevitably continue to be a numbers game of sorts, these recent trends may reflect a step towards a healthier Chinese innovation trajectory. Scholars, policymakers, and businesses should consider these shifting dynamics in their intellectual property and innovation forecasting, strategizing, and planning.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127373567","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A Weathermap for International Arbitration: Mainly Sunny, Some Cloud, Possible Thunderstorms","authors":"L. Nottage","doi":"10.2139/ssrn.2630401","DOIUrl":"https://doi.org/10.2139/ssrn.2630401","url":null,"abstract":"This paper offers some broader theoretical perspectives on the already wide-ranging and very thought-provoking keynote speech by Professor Filip De Ly, at the Queen Mary University of London conference in April 2015 celebrating the 30th anniversary of its School of International Arbitration. The paper first focuses on how ‘the sources’ he analyses for 1985-2015, to anticipate the trajectory of international arbitration over the next generation, can be usefully linked to the nature of the ‘general principles’ that Professor De Ly outlines in the second half of his presentation. In particular, it is instructive to consider how the spread of Anglo-American influence may be linked to formalization (including delays and especially costs) in international arbitration principles. To do so and better locate our present position, Part 1 goes back in history to the earlier generation or era of international arbitration, the thirty years prior to the UNCITRAL Model Law of International Commercial Arbitration (1985). A significant portion of cases involved investment disputes with host states, yet the normative paradigm was distinctly more global and informal. Part 2 then takes a closer look at international arbitration’s contemporary and ongoing ‘move East’. It suggests that this new phase of globalization is and will likely remain characterized by ever-growing formalization of international commercial arbitration, due in particular to strong information asymmetries in this market for services. Part 3 develops the counter-intuitive suggestion, however, that treaty-based investor-state arbitration may eventually exert some counterbalancing influence, through the heightened transparency associated with this hybrid form of dispute resolution. Yet investor-state arbitration also risks promoting even greater formalization, and there are serious doubts about the long-term viability of this system of international dispute resolution – including in the Asian region, where there remain some broader historical concerns about foreign investment in general. Part 4 concludes more generally by suggesting that the main theoretical underpinning for international commercial arbitration has settled from the 1980s into a variant of ‘neoclassical’ theory in contract law, with indeed some recent arguments for even greater formalization, in contrast to the theoretical ‘richness of contract law’ described in the US around 1997. Nonetheless, the growth of investment treaty arbitration opens the possibility of more theoretical diversity and therefore debate in the world of international commercial arbitration as well.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131135413","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Challenges and Solutions for the China-US BIT Negotiations: Insights from the Recent Development of FTZs in China","authors":"J. Huang","doi":"10.1093/JIEL/JGV018","DOIUrl":"https://doi.org/10.1093/JIEL/JGV018","url":null,"abstract":"Before conducting profound reforms of the trade and investment legal framework, China often implements the reforms on a small scale, generally in specified geographic zones, as testing grounds. From 2013 to 2015, China established four free trade zones (FTZs) as pilot projects to test how to update Chinese trade and investment law, boost China’s economy, and prepare China for high-standard BITs/FTAs negotiations. This article analyzes the interactions between China’s FTZs and the China–US BIT negotiations, and explores what insights gathered from China’s FTZs can provide a better approach to challenges in the China–US BIT negotiations. It concentrates on three issues of the BIT negotiations: non-conforming measures, pre-establishment national treatment, and transparency. For each issue, this article compares other BITs concluded by China and the USA and analyzes their differences, then it explores the reasons for the differences and how they can be reconciled by experiments in China’s FTZs, and finally it proposes solutions for the China–US BIT negotiations.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130945817","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Competition Law in Japan","authors":"Simon Vande Walle, Tadashi Shiraishi","doi":"10.2139/SSRN.2219881","DOIUrl":"https://doi.org/10.2139/SSRN.2219881","url":null,"abstract":"This article gives an overview of competition law in Japan, with a particular focus on recent cases and developments. It touches upon most major aspects of competition law in Japan, including its substantive rules, enforcement mechanisms and historical background. The article also discusses the application of Japanese competition law to cross-border cases and reflects on the role and awareness of competition law in Japan.Two versions of this article are available on SSRN. In this version, we have added the Japanese terms for key concepts such as \"surcharges\" or \"substantial restraint of competition\". The Japanese terms are written in both roman transcription and Japanese characters. For readers not interested in the Japanese terms, we recommend the other version, as its text is uninterrupted and therefore easier to read.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133375139","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Climate Change and Financial Instruments to Cover Disasters: What Role for Insurance?","authors":"Qihao He","doi":"10.4324/9781315796390-22","DOIUrl":"https://doi.org/10.4324/9781315796390-22","url":null,"abstract":"Global climate change has caused many weather-related catastrophes in the world, and the losses have been increasing dramatically during past years. Various legal and business mechanisms and tools can be used to manage catastrophe risks and cover catastrophe losses, such as insurance, government subsidies, and risk sensitization. In theory, private insurance can be an efficient financial instrument to cover disasters. In practice, private insurance plays an important role indeed in developed countries such as the United States. This chapter further addresses the question: taking into account China’s transition economy and specific socialism system, what is the role of private insurance to cover disasters and how does it distribute catastrophe risks. Furthermore, I will propose that mandatory multi-year insurance may be a possible solution to be considered.","PeriodicalId":137430,"journal":{"name":"Asian Law eJournal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2015-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124404207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}