Emory International Law Review

Volume 34Issue 2

The IMF Must Develop Best Practices Before Government-Backed Cryptocurrencies Destabilize the International Monetary System

Jacob Goldsmith | 34 Emory Int'l L. Rev. 595 (2020)

Central banks are flocking to government-backed cryptocurrency, taking full advantage of the media attention brought to Bitcoin and other digital currency. However, while government-backed cryptocurrency avoids some pitfalls presented by private cryptocurrencies, other problems are less easily sidestepped. And government-backed cryptocurrencies, if widely adopted, could present issues to the stability of the international monetary system. These problems must be addressed, and not only as they arise. Unfortunately, national and international governments have shown no real ability to deal with troubles arising from private cryptocurrency. The government-backing of such digital currency changes the calculus, permitting a new entity to deal with these problems. The International Monetary Fund (IMF) is the best organization to deal with the issues. This Note submits that the IMF should act quickly to take pre-emptive measures and develop a system of best practices for dealing with government-backed cryptocurrency in pursuance of ensuring a stable international monetary system.

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Selecting an Investor-State Arbitration Mechanism for Disputes Arising Under China’s Belt and Road Initiative Projects

Yuwei Liu | 34 Emory Int'l L. Rev. 639 (2020)

Chinese corporations have made extensive investment in areas such as central Asia, Southeast Asia and Africa under the Belt and Road Initiative projects. Due to the feature of the investment and the risks involved in the countries, it is important for the Chinese investors to choose the proper forum to resolve the investment disputes arise from the BRI projects. This Comment compares the three major investor-state arbitration institutions, including ICSID, UNCITRAL and CIETAC on various aspects. Due to the political influence, financial risk, convenient location and panel composition, the Comment proposes CIETAC to be the preferred institution for Chinese BRI investors.

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The Build Act: A Shift in U.S. Global Investment Strategy and Its Impact on Sub-Saharan Africa

Paige Parker | 34 Emory Int'l L. Rev. 673 (2020)

This Comment consists of six parts. Part II discusses the BUILD Act and the establishment of the IDFC, which is the mechanism through which the US is shifting its global investment strategy. In Part III, China’s approach to global economic development is explored in a discussion of China’s RBI initiative, the primary motivation for the US change in global investment strategy. Part IV analyzes investments in health systems and the opportunity the U.S. has to invest in health system projects in Sub-Saharan Africa. Part V proposes the implementation of guidelines and regulations on the IDFC during the transition period as the detailed plan of IDFC awaits approval from Congress. Finally, Part VI then reaches the conclusion that the direction that the IDFC appears to be taking is detrimental regarding its foreign relations with Sub-Saharan Africa as the US shifts from an aid to trade-based approach.

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