Representing Oxford University OBOR Institute, Deputy Director Dr Ying Yu has delivered a speech on OBOR issues at the 8th World Chinese Economic Summit on 16-18 November alongside world leaders from the Asia-Pacific region (see the original news article here). In her speech, Dr Yu outlined three main areas of OBOR.
She firstly laid out the background of OBOR, a major initiative to coordinate a wide rage of activities from China to Spain involving up to 100 nations. Several features of OBOR were discussed, including its inherently international scope, the cross-border transactions and activities that are involved, how transactions cut across multiple national systems, and the sharing of legal, constitutional, and regulatory standards.
Dr Yu further separated the initiative into two streams, where she examined the financial, commercial, and trade aspects of the initiative, and also detailed the common goal of the exchange and protection of cultural heritage among participating nations.
Finally, Dr Yu addressed the importance of understanding and approaching OBOR from a legal point of view. She broke these down into the following points: 1) the necessary coordination of basic constitutional values, principles, and attitudes; 2) the need for common legal standards across nations in dealing with issues such as finance, banking, and investment; 3) the need for common standards involving the education, protection, and exchange in regards to cultural property; 4) the need for common standards for regulatory coordination and administrative coordination across borders; 5) the need to establish various forms of dispute resolution that could be implemented and enforced across borders; 6) to pay special attention to electronic and digital facets of OBOR including e-commerce; 7) in relation to courts and issues involving two or more jurisdictions, the particular need to acquire mutual knowledge and comparative understanding of the judicial traditions of partnering nations.
Dr Ying Yu is concurrently the Director of the China Programme at the Foundation of Law, Justice and Society and a Research Fellow in Law, Justice and Society at Wolfson College, Oxford University.