Increased economic interdependencies and trade flows between states, innovations in information technology and computer networks, a global shift toward market economies and regional and multilateral trade arrangements, have all led to an increasingly globalized world economy.
The Forces of Economic Globalization: Challenges to the Regime of International Commercial Arbitration examines some of the challenges facing the regime of international commercial arbitration in the contemporary global economy. It considers the debates concerning the transformation of the global order and the role of nation states within the context of international commercial arbitration. Issues discussed include the transformative effect of economic globalization, the role of the epistemic community and the increased institutionalization within the international arbitral regime, the nationalization of international commercial arbitration and the denationalization and harmonization trends, the competitive nature of legislative reform, convergence and divergence in the international arbitral process, multilateralism and regionalism, market modernization and transnationalism, globalization and lex mercatoria, and the development of online arbitration schemes in cyberspace.
This book seeks to analyze the inner penetration of a form of world polity or transnational order — comprised of part epistemic community, institutional networks, national laws and multilateral conventions, norms, rules, principles and transnational ideology — on the traditional notion of state sovereignty within the international arbitral regime. The book will interest practitioners and academics with an interest in international commercial arbitration.