Herding Tigers

The human and social conditions are such that short-term disputes or longer-term conflicts are inevitable. Disputes eg in international commercial contracts between parties in different jurisdictions are negotiable and can be resolved. Conflicts involving deep-rooted issues, may be non-negotiable, as basic needs such as survival is at stake.

At the private international level, commercial disputes are often resolved in quasi-judicial process eg arbitration to save costs and time. Recognition and enforcement of arbitral awards are governed by the New York Convention 1958 (159 members). If any arbitral awards are disputed, municipal courts would act accordance with the Convention standards.

At the public international level, trade disputes are also resolved via in-built institutional process eg the WTO Dispute Settlement mechanism (164 members). Political conflicts, however, depend largely on the good faith of the parties. The strict application of game theory to optimize outcome without giving would not work, in my view.

In a Shenzhen Conference on the 60th anniversary of the New York Convention & One Belt, One Road held on May 15, 2018, I got authentic updates. In parallel, the news reported the escalating Israeli-Palestinian conflict, and the further twists and turns among the Koreas and US. Herding tigers does require tactful leadership!

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