International Commercial Courts in the Age of State Capitalism

Every economic system comes with its own set of institutions. In the system of capitalist production, institutions are influenced by the market and are designed to serve the market. The same is true for political institutions, as well as legal institutions – such as contract and property rights. Market capitalism has developed ‘varieties’ with their own more distinct institutions. Anglo-Saxon capitalism and continental capitalism come with their sets of political, economic and legal institutions. The Anglo-Saxon variety of capitalism, for example, is said to promote more extensive liberalisation than other varieties of capitalism....