This is the introductory chapter to a book on Commercial Law in East Asia that examines scholarly interpretations of the role played by commercial law in East Asia's economic rise. Some decades ago, Asian commercial law was largely neglected in the writings of legal scholars. This was because law as a discipline had been forged in prior European and American centuries; these roots have ill-served legal analysis in the new Asian century. Mainstream comparative law scholarship, for example, also tended to neglect regions such as China and Japan. Similarly, writing about globalisation and law has tended to reflect Western normative views and has been seen as mainly Eurocentric. However in recent decades we have seen a major transformation in the focus of legal scholarship with the rise in the volume and sophistication of East Asian commercial law scholarship. Commercial Law in East Asia seeks to expose readers to this new body of legal writing and theoretical analysis. This is important as it has reminded us of the existence of different models of law; on the other hand there has also been evidence of the influence of "Americanisation" over the development of East Asian commercial law. The link between the role of commercial law and economic development deserves closer scrutiny; this has been mediated by the powerful role of the state in law reform in many East Asian countries. As a result, East Asian commercial law has often been implemented in different ways to that expected by Western models. The interaction of global and local influences, such as from indigenous legal traditions, has remained important. However, commercial law has tended to follow rather than cause economic development in East Asia; in the meantime, functional equivalents, such as dominant political forces, have played an important role in managing economic change in the region.

The shift of economic gravity towards East Asia requires a critical examination of law's role in the Asian Century. This volume explores the diverse scholarly perspectives on law's role in the economic rise of East Asia and moves from general debates, such as whether law enjoys primacy over culture, state intervention or free markets in East Asian capitalism, to specific case studies looking at the nature of law in East Asian negotiations, contracts, trade policy and corporate governance. The collection of articles exposes the clefts and cleavages in the scholarly literature explaining law's form, function and future in the Asian Century.

The shift of economic gravity towards East Asia requires a critical examination of law's role in the Asian Century. This volume explores the diverse scholarly perspectives on law's role in the economic rise of East Asia and moves from general debates, such as whether law enjoys primacy over culture, state intervention or free markets in East Asian capitalism, to specific case studies looking at the nature of law in East Asian negotiations, contracts, trade policy and corporate governance. The collection of articles exposes the clefts and cleavages in the scholarly literature explaining law's form, function and future in the Asian Century.

"The shift of economic gravity towards East Asia requires a critical examination of law's role in the Asian Century. This volume explores the diverse scholarly perspectives on law's role in the economic rise of East Asia and moves from general debates, such as whether law enjoys primacy over culture, state intervention or free markets in East Asian capitalism, to specific case studies looking at the nature of law in East Asian negotiations, contracts, trade policy and corporate governance. The collection of articles exposes the clefts and cleavages in the scholarly literature explaining law's form, function and future in the Asian Century."--Provided by publisher.

The massive and complex process of change in East Asia over recent decades has brought about a transformation in the nature of law and legal institutions in the region. Whilst the process of change has to some degree mimicked western models of law and legal change, there have been significant differences in approach due to the different social foundations of East Asian societies. The more obvious of these has been the variety of ways in which rule of law ideas have been adopted in many East Asian countries where the role of the state is more dominant when compared with Western models. This volume brings together a selection of the most important writings on East Asia of researchers in recent years, and shows the broad range of questions which researchers have been addressing about the effect of law reform and legal change in societies dominated by traditional values and political forces, and at a time of massive economic change.

This work explores the tension in East Asia between the trend towards a convergence of legal practices in the direction of a universal model and a reassertion of local cultural practices. The trend towards convergence arises in part from 'globalisation', from 'rule of law programs' promulgated by institutions such as the International Monetary Fund and the Asian Development Bank, and from widespread migration in the region, whilst the opposing trend arises in part from moves to resist such 'globalisation'. This book explores a wide range of issues related to this key problem, covering China in particular, where resolving differences in conceptions about the rule of law is a key issue as China begins to integrate itself into the World Trade Organisation regime.

The rapid and continuing development of the Chinese economy and its markets has made business with China an integral component of the strategies of countless foreign companies, regardless of their size or form. However, in order to turn opportunities into successful enterprises, managers need a practical guide on the legal aspects of conducting business in China, and on the strategies for effectively circumventing unnecessary risks while simultaneously using the legal system to strengthen operations and protect interests. This remarkable book provides the necessary insight and guidance to devise a corporate strategy, and to tackle issues relating to common aspects of doing business with Chinese counterparts, investing in a Chinese enterprise, and engaging in business operations there. Drawing on expertise gained during eight years in China serving the legal needs of foreign companies, the author shows how many of the mistakes that foreign companies make can easily be avoided by conducting a proper due diligence and understanding how applicable laws work in practice. He clearly describes the opportunities and pitfalls exposed as a foreign investor engages with such elements of business in China as the following: negotiating a detailed written contract; performing a legal and commercial due diligence on a prospective partner; resolving disputes through negotiation, arbitration or litigation; establishing and enforcing trademarks, patents and other intellectual property rights; investing in China; considering the joint venture structure; expanding through a merger or acquisition; restructuring or liquidating an operation; designing and implementing effective corporate governance; retaining, managing and terminating employees; arranging funds into and out of China; ensuring both tax efficiency and tax compliance; and avoiding criminal liabilities in the course of doing business. Whether seeking to source from China or to establish manufacturing facilities in China to produce for export, to sell products or services on the domestic market, or even just to act as a conduit between China and the outside world, business managers and their counsel from all over the globe and across all industries will benefit enormously from this deeply informed, insightful, and practical guide