Globalization and Financial Dispute Resolution: A View from Hong Kong

Abstract

Recent financial dislocation indicates that in many respects the world’s financial markets are increasingly operating as a single integrated whole. Both the economic fallout of the financial crisis as well as the global response reflects the significant degree of interchange characterizing cross-border exchange. Hong Kong like many global financial centers was directly impacted by the financial crisis, and responded with its own unique regulatory mix that drew on global experience. Part one of this paper examines the theoretical perspectives on the impact of globalization on international legal practice. Part Two provides a global review of financial dispute resolution programs. Part Three examines Hong Kong’s response to the financial crisis and how it has demonstrated the patterns of both convergence and informed divergence in its selected financial reforms.