Hong Kong has been long established as one of the world’s leading centres for dispute resolution. Strategically positioned at the heart of the Asia-Pacific region, Hong Kong boasts a thriving economy, a highly developed legal infrastructure and benefits from a wealth of both local and international expertise across all sectors.
Despite its prominent position, Hong Kong is facing growing regional competition from other jurisdictions including Singapore, Malaysia and South Korea who have stepped up their efforts to attract a greater share of the work to resolve the world’s disputes in an ever-expanding global economy. With Asia’s GDP forecast to grow by around 6% every year until 2023, a surge in cross-border transactions will inevitably spark more trade and investment disputes.
So, what advantages does Hong Kong have over these rival countries and how can it maintain its position as the leading centre for dispute resolution?
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