Toward Appropriate Dispute Settlement Mechanism Under Belt And Road Initiative

"The Belt and Road Initiative" is a large-scale economic project stretching across half the globe.It is a mega project in terms of infrastructure and investment that spans more than 70 countries with different legal systems.As the Belt and Road is a relatively new global trade initiative,much hard work remains to be accomplished and many hurdles and obstacles will have to be faced.Obviously,in implementing the Belt and Road initiative like in other commercial and economic collaborations there will be disputes among the member states.To choose or create a mechanism for resolving the BRI related disputes should be explored.To date,there is no either international or regional dispute settlement mechanism which is capable to deal with BRI related disputes properly.Thus,Creating and designing a high standard and forward looking transnational dispute settlement mechanism over BRI region is a must.To this happen,the BRI region states big or small must find common channel to interact and participate actively to reach an appropriate transnational dispute resolution mechanism over BRI disputes.There is sense of need for a flexible approach to meet the member state’s requirement therefore,BRI participating state’s cooperation should be base on non-binding principles law and less-institutional nature rather than hard law approach.In this regard,China has taken some fundamental steps forward a developed transnational dispute settlement mechanism that would be able mitigate the concerns of BRI member states.In this sense,China has already shown that it has potential to become a reliable and a serious competitor disputes settlement hub for BRI related disputes even beyond.The structure of the developed transnational dispute settlement mechanism in terms of,law of the court,legal and judicial structurejudges and experts as well as dispute settlement means should be high standard and forward looking.The thesis has recommended that,as the BRI plays an increasingly important role in developing and promoting the BRI region therefore,it is important the BRI member states to bare in mind that,harmonized laws and regulations could represent a decisive step toward reaching a critical mass for the acceptance of harmonized standards as well as leading to regionally coordinated action and consequently,attempting to establish a transnational dispute settlement mechanism along the belt and road initiative.