Modern China and International Rules: Reconstruction and Innovation

Acknowledgments
Contents
About the Author
Abbreviations
Part I Part One
1 Introduction
References
2 Global Value Chains in the Post-pandemic Era
2.1 The Key Roles of Global Value Chains in Global Development
2.1.1 Boosting Economic Growth
2.1.2 Increasing Employment Opportunities
2.1.3 Strengthening Economic Ties
2.1.4 Influencing International Rules
2.2 The Problems of Global Value Chains in the Pre-pandemic Era
2.2.1 Over-Concentration of Regional Distribution
2.2.2 Promotion of High-Tech Development
2.2.3 Interference of Trade Protectionism
2.2.4 Impacts of Imbalance in the Distribution of Benefits
2.3 The Severe Challenges Facing Global Value Chains in the Post-pandemic Era
2.3.1 Overall Impact of the COVID-19 Pandemic
2.3.2 A More Fragmented Production Layout
2.3.3 New Problems Brought by Digital Governance
2.3.4 Rise of De-Globalization Sentiment
2.4 Global Value Chains’ Calling for the Reconstruction and Innovation of International Rules
2.4.1 Innovating International Rules
2.4.2 Adhering to Open Rules
2.4.3 Fair Competition Rules
2.4.4 Digital Economy Rules
2.4.5 Strengthening the Rule System
References
3 The Reconstruction and Innovation of International Economic and Trade Rules
3.1 The Practical Needs for the Reconstruction and Innovation of International Economic and Trade Rules
3.1.1 The New International Trade and Economy Landscape Requires Reconstructing International Economic and Trade Rules
3.1.2 The Emerging Economic Mode Calls for the Innovation of International Economic and Trade Rules
3.1.3 Trade Protectionism Necessitates the Reconstruction of International Economic and Trade Rules
3.1.4 The COVID-19 Pandemic has Accelerated the Reconstruction of International Economic and Trade Rules
3.2 Severe Challenges Facing the WTO Multilateral Trading System
3.2.1 Institutional Problems Endanger the Regular Operation of the WTO
3.2.2 Regional Trade Agreements Challenge the WTO’s Authority
3.2.3 The North–South Divide Hinders the Progress of WTO Reform
3.2.4 Emerging Issues Challenge the Validity of WTO Rules
3.3 Main Features of the Reconstruction and Innovation of International Economic and Trade Rules
3.3.1 The Platform: Regional Trade Agreements
3.3.2 The Major Driving Forces: Developing Members
3.3.3 The Main Direction: Sustainable Development
3.3.4 The Keen Focus: Behind-The-Border Measures
3.4 The Path Choice of the Reconstruction and Innovation of International Economic and Trade Rules
3.4.1 The Path of Bilateral Trade Agreements
3.4.2 The Path of Regional Trade Agreements
3.4.3 The Path of Plurilateral Trade Agreements
3.4.4 The Path of Multilateralism with the WTO’s Institutional Reform as the Core
References
Part II Part Two
4 International Fair Competition Rules
4.1 The Exploration of International Fair Competition Rules
4.1.1 Background
4.1.2 Significance
4.1.3 Urgent Needs to Improve
4.1.4 Priorities
4.2 International Organizations and International Fair Competition
4.2.1 Theories and Practices of the World Bank
4.2.2 Theories and Practices of UNCTAD
4.2.3 The World Trade Organization’s Rules
4.3 Limitations of Competitive Neutrality Principles
4.3.1 Origin of the Competitive Neutrality Principle
4.3.2 Evolution
4.3.3 Limitations
4.4 China and International Fair Competition
4.4.1 Interests of Developing Countries and the Reform of the International Fair Competition System
4.4.2 High-Level Economic and Trade Agreement Negotiations and the Reconstruction of International Fair Competition Rules
4.4.3 Cooperation and Coordination of Intercountry Policies and the Overall Development of the Global Market Environment
References
5 Rules of Official Export Credit
5.1 Introduction of the Official Export Credit Rules System
5.1.1 Concept
5.1.2 Theoretical Bases
5.1.3 Evolution
5.2 Practice of Official Export Credit in Countries
5.2.1 UK Export Credit Guarantee Department
5.2.2 Export-Import Bank of the United States
5.2.3 The Japan Bank for International Cooperation
5.2.4 The Export-Import Bank of Korea
5.3 Challenges to Official Export Credit Rules
5.3.1 Unfair Competition in Official Export Credit Policy
5.3.2 Official Export Credit Rules Not Yet Yielding Multilateral Agreements
5.3.3 New Issues Facing the Official Export Credit Rules
5.3.4 Official Export Credit Rules in the Post-pandemic Era
5.4 China and Official Export Credit Rules
5.4.1 Ensuring the Sustainability of Developing Countries’ Sovereign Debt
5.4.2 Establishing Inclusive Multilateral Official Export Credit Rules
5.4.3 Formulating Official Export Credit Rules Through Multilateral Mechanisms
Appendix 5.1: Overview of the Export–Import Bank of China
Appendix 5.2: Basic Content of Arrangement on Officially Supported Export Credits
References
6 Cross-Border E-Commerce and Digital Trade Rules
6.1 The Evolution of Concept and Development of Cross-Border E-Commerce
6.1.1 Concept
6.1.2 Classification
6.2 Challenges of Cross-Border E-Commerce to Existing International Rules
6.2.1 The Categorization of Products
6.2.2 Market Access
6.2.3 The Tariff Collection
6.2.4 Intellectual Property
6.3 Status and Trends of International Rules for Cross-Border E-Commerce
6.3.1 Development
6.3.2 The New Features and Trends
6.4 China and Cross-Border E-Commerce and Digital Trade Rules
6.4.1 Cross-Border E-Commerce Establishment and Digital Trade Rule Development in China
6.4.2 China’s Laws and Regulations to Promote the Development of Cross-Border E-Commerce and Digital Trade
6.4.3 China’s Participation in the Construction of International Rules on Cross-Border E-Commerce and Digital Trade
References
7 Investor-State Dispute Settlement
7.1 Status and Evolution of ISDS
7.1.1 Concepts of ISDS
7.1.2 Evolution of ISDS
7.1.3 Status of ISDS
7.1.4 Main Features of the Current ISDS
7.1.5 General Process of the Current ISDS Arbitration
7.2 The ISDS Faces Severe Challenges
7.2.1 CMS Versus Argentina
7.2.2 Ping An Versus Belgium
7.2.3 Problems of ISDS
7.3 Main Trends in the ISDS Reform
7.3.1 Reform Proposals for the New ICSID Rules
7.3.2 The UNCITRAL’s Discussions on the ISDS Reform
7.3.3 EU’s Initiative: Establish an “International Investment Court”
7.3.4 Brazil’s Solution: Create a Hybrid Model for Investment Dispute Settlement
7.4 China and ISDS
7.4.1 Application of ISDS in China
7.4.2 Trend and Impact of International Investment Disputes in the Post-pandemic Era
7.4.3 Suggestions on China’s Policies to Improve ISDS in the Post-pandemic Era
References
8 International Investment Agreements and Multilateral Agreement on Investment
8.1 Problems Facing International Investment Agreements
8.1.1 Connotation and Structure
8.1.2 Development Trend
8.2 Core Issues of Multilateral Agreement on Investment
8.2.1 Definition of Investment
8.2.2 Market Access
8.2.3 Investment Protection
8.2.4 Investment Promotion
8.2.5 Investment Management
8.2.6 Dispute Settlement
8.3 Formulation of Multilateral Agreements on Investment
8.3.1 The United Nations System (1960–1990)
8.3.2 Uruguay Round of the GATT (1986–1995)
8.3.3 Multilateral Investment Agreement Negotiations in OECD (1995–1998)
8.3.4 Efforts Under the WTO Framework (1995–2004)
8.3.5 Negotiations on Investment Facilitation for Development (Since 2017)
8.4 China and the Establishment of Multilateral Agreement on Investment
8.4.1 Interpretation of Multilateral Agreements on Investment
8.4.2 Contributions
8.4.3 Path to Promote
References
9 International Regulatory Cooperation
9.1 Basic Concepts and Major Forms of International Regulatory Cooperation
9.1.1 Basic Concepts and Connotations
9.1.2 Major Forms
9.1.3 Jurisprudential Basis
9.1.4 Comprehensive Benefits
9.2 International Organizations Promote International Regulatory Cooperation
9.2.1 World Trade Organization
9.2.2 The Organization for Economic Co-operation and Development
9.2.3 The Asia–Pacific Economic Cooperation
9.2.4 The United Nations Economic Commission for Europe
9.3 Regional Agreements Attach Importance to International Regulatory Cooperation
9.3.1 The EU-Canada Comprehensive Economic and Trade Agreement
9.3.2 The EU-Japan Economic Partnership Agreement
9.3.3 The Comprehensive and Progressive Trans-Pacific Partnership
9.3.4 The United States-Mexico-Canada Agreement
9.4 China and International Regulatory Cooperation
9.4.1 Active Participation
9.4.2 Facing Problems
9.4.3 Moving Forward
References
Part III Part Three
10 China’s Engagements in the Reconstruction of International Economic Rules: Theoretical Innovation
10.1 New Model of International Relations: Based on Cooperation and Mutual Benefits
10.1.1 Background
10.1.2 The Idea in Essence
10.1.3 China’s Practice
10.2 New Vision of Global Governance: Featuring Extensive Consultation, Joint Contribution, and Shared Benefits
10.2.1 Background
10.2.2 The Idea in Essence
10.2.3 Significance
10.3 New Idea of Making Economic Globalization: More Open, Inclusive, Balanced, and Beneficial for All
10.3.1 Background
10.3.2 Chinese Proposal
10.3.3 International Recognition
10.4 New Objectives of the World: To Build a Community with a Shared Future for Mankind
10.4.1 Background
10.4.2 The Idea in Essence
10.4.3 Far-Reaching Effects
10.5 Safeguarding and Improving the Global Governance System: With the UN at Its Core
10.5.1 China’s Determination to Champion the UN’s Status
10.5.2 China’s Solutions for the UN to Better Perform
10.5.3 China’s Experience in Peace and Development
10.6 Reform and Innovation of the Multilateral Trading System: With the WTO at Its Core
10.6.1 China’s Proposition of WTO Mechanism Reform
10.6.2 China’s Ideas of Multilateral Investment Rules
10.6.3 China’s Voice in the Emerging Economy
References
11 China’s Engagements in the Reconstruction of International Economic Rules: Practical Contributions
11.1 Fruitful Results of Implementing the Belt and Road Initiative
11.1.1 Taking Various Measures to Enhance Policy Coordination
11.1.2 Embracing Coordinated Development to Promote Facilities Connectivity
11.1.3 Promoting Cultural Exchanges to Nourish People-to-People Bonds
11.2 True Multilateralism Practice to Promote Economic Globalization
11.2.1 RCEP: Constructing a New Pattern of Multilateralism in the Asia–Pacific
11.2.2 China-EU Investment Starting a New Phase for Trade and Economic Cooperation
11.2.3 The Free Trade Area Strategy Deepening Regional Economic Cooperation
11.3 Institutional Opening up to Promote High-Quality Economic Development
11.3.1 Expanding Market Access for Foreign Investment
11.3.2 Strengthening the Protection of Intellectual Property Rights
11.3.3 Accelerating the Development of the Digital Economy
11.3.4 Integrating Deeply into the International System
11.4 The Idea of a Community with a Shared Future for Mankind to Improve the Reconstruction of International Rules
11.4.1 Promoting the Building of a Community with a Shared Future for Mankind
11.4.2 Reforming and Improving the International Economic Governance System
11.4.3 Establishing a New Global System of Green Development
References