On The Construction Of Dispute Settlement Mechanism Under CEPA

With the development of globalization of economy, the tide of regional economic integration also spread to the whole world, which makes deep impact to not only the whole-world economic structure but also regional economy. In the latest 20 years, especially after the establishment of WTO, regional economic organizations increase rapidly. Especially the great achievements made by regional economic organization such as European Union bring good examples to the whole world. After the signature of《MAINLAND AND HONGKONG CLOSER ECONOMICPARTNERSHIP ARRANGEMENT》(below briefly called as CEPA),the public of mainland and Hong Kong respond it warmly and raise a upsurge of study on CEPA and its influences. This paper contains four parts.Part one summarized the way for the introduction of CEPA, discoursed the background to the signing of the CEPA. And the author discussed the nature of the CEPA, according the content of the CEPA and the relationship with the WTO, the paper thought that CEPA is an inter-regional free-trade agreement.Part two discourses the shortcomings of dispute settlement body of CEPA, the paper thought it had limited ways to resolve disputes, it had too many political facts, and it is difficult to put into practice. The paper made a statement that all these shortcomings obstruct the further development of the CEPA.Part three Part two gives an overall view of several types of dispute settlement body in the free trade areas, we must learn merits from them. But use the merits as a source of reference of dispute settlement of CEPA must suit the circumstance of reality. During the introduction, the most important point is to introduce the dispute settlement of WTO, because it provides the example of expert's court dispute settlement model. In fact, not only EU but also NAFTA provides merits to us too, they must meet our needs according to the realistic.Part four is the most important part of this paper, the content is build the dispute settlement of CEPA. In this part, the author analysis of the causes of economic and trade disputes, they may be divided into two styles: one is political dispute relate to macroeconomic environment, the other is interest dispute between trade parties relate to microeconomic environment. I believe the long-term plan is to establish a political settlement model and expert's court dispute settlement model to meet different needs of disputes.