China, India and Dispute Settlement in the WTO and RTAs

• Main Author: HSU, Locknie
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2009
• Subjects: Asian Studies; Dispute Resolution and Arbitration; International Law; International Trade Law
• Online Access: https://ink.library.smu.edu.sg/sol_research/946; https://search.library.smu.edu.sg/discovery/fulldisplay?docid=alma998898002601&context=L&vid=65SMU_INST:SMU_NUI&lang=en&search_scope=Everything&adaptor=Local%20Search%20Engine&tab=Everything&query=any,contains,China,%20India%20and%20the%20International%20Economic%20Order&offset=0
• Institution: Singapore Management University

India's population is approximately 1.1 billion while that of China is approximately 1.3 billion. Together, they comprise more than a third of the world's population and a formidable economic pair in the developing world. China and India share several characteristics. Both have great ancient civilizations of rich and long-standing cultures. Parts of their populations share common religious traditions. In the international arena, China and India together forged the Five Principles of Peaceful Coexistence in the 1950s, which still strongly influence developing state relations today. However, the two also diverge in many ways. Unlike India, China is emerging from its chrysalis of a centrally planned economy and transforming into a ‘socialist market economy’. As part of this transformation, its legal system, belonging to the civil law tradition, has been undergoing massive changes in recent years – many of which are a result of its entering the World Trade Organization (WTO). In terms of rule of law, China has a greater challenge in overcoming perceptions about the strength and soundness of its legal system and adherence to the rule of law. Enormous changes have been made to China's legal system in the wake of WTO membership. Some of these changes are of watershed significance, for they spell departures from prior tradition and practice.