Welcome to the 10th edition of Crossing Borders, a periodic review of developments in international arbitration across the world.
In this special edition of Crossing Borders, we are using our anniversary to look 10 years into the future and ask:
- What will arbitrations be like going into 2028?
- Where will disputes be decided?
- How will they be decided, by whom, and what disputes will be in front of them?
- First, however, we look back 10 years to 2008, and identify the key developments we have seen in the last decade. We find, that whilst there has been discontent with the system of investor-state dispute resolution (ISDS), commercial arbitration has seen positive developments in terms of growth, diversity and transparency, and the future for arbitration looks bright.
We then travel forward to 2028 to examine the resurgence of the courts in resolving international disputes, and we foresee a rise in the East in terms of arbitral centres and practice, especially given the dominance of Belt and Road Initiative (BRI) project disputes in the global landscape of 2028.
We examine the way Digital Ledger Technology (DLT) is changing the way business is done and a future where smart contracts and digital currency execute BRI projects. We share key findings from the Queen Mary Survey and, through our crystal ball, predict that Hong Kong will eclipse other venues as the dispute resolution centre for years to come.
In keeping with our "10" theme, we also bring you:
- 10 predictions about international arbitration in 2028 in a post-Brexit UK
- 10 issues to bear in mind in relation to arbitral confidentiality
- 10 arbitration centres you may not have heard of, but should consider
- 10 things you need to know about the new draft amended ICSID rules.