The ‘two faces’ of cross-border, transactional legal practice during Covid-19: how and from where have lawyers mobilised China's capital flows under lockdown?
Michael Yip, Amasara Gajadeera, Justin Monsenepwo, Nuraiym Syrgak kyzy
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Abstract
Abstract The narrative that banks, government departments and state-owned enterprises are the foremost protagonists in shaping China's outbound capital flows has been a commonplace view. This article seeks to expand the focus to include other under-scrutinised players: lawyers. With reference to exporting industries (such as shipping and natural gas), this article explains how lawyers – in tandem with China's governmental and judicial organs – have shifted from enabling outflows to postponing them, as a result of China's Covid-19 force majeure regime. Even with capital on pause, Covid-19 has also kept lawyers busy, prompting them to think about how to maximise their firm's proximity to the clients they have and to new clients that they want to win. Accordingly, this article also provides an overview of the techniques used by predominantly Anglo-American law firms to gain access to new legal markets during Covid-19, with a view to winning more work from Chinese capital-exporters and their foreign counterparties.
期刊介绍：
The Asian Journal of Comparative Law (AsJCL) is the leading forum for research and discussion of the law and legal systems of Asia. It embraces work that is theoretical, empirical, socio-legal, doctrinal or comparative that relates to one or more Asian legal systems, as well as work that compares one or more Asian legal systems with non-Asian systems. The Journal seeks articles which display an intimate knowledge of Asian legal systems, and thus provide a window into the way they work in practice. The AsJCL is an initiative of the Asian Law Institute (ASLI), an association established by thirteen leading law schools in Asia and with a rapidly expanding membership base across Asia and in other regions around the world.
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