• Energy Research

As a new form of regional multilateralism, the Belt and Road Initiative is China’s most significant strategic move for external engagement in international economic law, following its World Trade Organization accession. This paper analyses China’s approach towards the Belt and Road Initiative from a legal perspective, focusing on three questions: first, what is the proper scope of the Belt and Road Initiative? Second, is there an identifiable approach that China adopts in the Belt and Road Initiative context, and, if so, what is its key legal characteristic? Third, is China’s Belt and Road Initiative approach sustainable? Employing a functional approach in defining the Belt and Road Initiative, the article identifies three qualities to China’s approach to the Belt and Road Initiative: (i) that it is a hub-and-spoke network, (ii) it adopts a three-track institutional and mechanism approach, and (iii) a dual- track normative approach. Compared with the US trade approach (particularly the US–Mexico–Canada Agreement), these qualities reveal the key characteristic underpinning China’s Belt and Road Initiative approach: maximised flexibility regarding institutions and norms to address uncertainties and challenges in the Belt and Road Initiative. Such flexibility will likely assist in ensuring that China’s Belt and Road Initiative approach is sustainable by enabling trial-and-error, if properly managed. However, it also gives rise to concerns around China’s Belt and Road Initiative approach, especially as to its predictability, coherence, and transparency.

AbstractDigitalisation and environmental sustainability are widely discussed topics. However, their nexus remains underexplored and can pose significant challenges for governments and industries alike. The environmental implications of digitalisation are becoming increasingly pertinent with the advent of central bank digital currencies (CBDCs) and their inherent energy consumption and production of e‐waste. On the other hand, digitalisation could potentially support sustainability efforts. This begs the question of how systems of governance, such as regulatory frameworks and internal organisational governance, should harmonise digitalisation and sustainability goals. Such harmonisation entails ensuring that digitalisation processes are environmentally responsible while exploring how the application and features of digitalisation can help achieve environmental goals. By drawing insights from the case study of CBDCs, this article will utilise the paradigm of adaptive governance to seek potential solutions to the environmental implications of digitalisation.

The chapter analyzes several issues regarding the renewable energy subsidies in trade law. There are uncertainties regarding the WTO-consistence of renewable energy subsidies for goods. It is partially due to the vagueness of WTO rules and insufficient jurisprudence. Among them, issues such as the specificity of subsidies turn to be quite controversial. Given the unclear WTO disciplines on the susidies for goods, renewable energy subsidies for services could be more popular. The “collaboration” between the WTO law and FTAs is desirable to reform the WTO rules on trade remedies and to strike a balance between trade disciplines and environment protection.