Editor,s Note

      China has been robustly motivating and contributing its expertise as a leading, global,
and trustworthy stakeholder that fulfills its obligations and coordinates with other countries to advance an escalated international economic governance system. In particular, China has celebrated its success by paving the way for an accountable multilateralism with shared goals of instituting peace, security, and prosperity. Meanwhile, new-fangled contests and ostensive opportunities materialize in the current world order, as the new-normal of international economic governance experiences a disruptive exodus from pre-existing orders, and overcrowding acclaims for unpredictable restructuring. This issue of Focus brings in incisive and illuminating deliberations and arguments on how a new international economic governance system may legally benefit from various aspects of globalization in terms of non-hegemonic integration and collectivist collaboration.

      An indispensable element of economic mandate is the driving force of international
organizations such as the Organisation for Economic Development and Co-operation (OECD) in rewriting and engineering future commands. For example, the OECD has been vigorous in reformatting a taxation system of the digital economy, which may lead to the most significant reform of the international tax regime of the last century. Professor Bruno da Silva, who serves as an advisor to China’s State Administration of Taxation on international implementations of the Belt and Road Initiative, debates that the OECD’s ambitious proposal may jeopardize tax jurisdictional sovereignty and raise challenges to domestic economic settings and potential conflicts among tax treaties. Moreover, given the accelerating need to undertake and overcome challenges raised by new international order proposals that originated from OECD/G20 Summits, China has nimbly addressed certain significant economic policies in a constructive yet affirmative way. Professor XU Haiyan, who recently published a few articles on China’s international tax policies, meticulously explores the Chinese government’s responses in handling and accommodating various action demands on restructuring international investment and tax regimes. Equally, Professor WANG Chih-Cheng and MENG Yunuo showcase another enlightened measure engaged by China in managing incorporation into the established world system; in particular, they examine the differences between trustee obligations under the American Uniform Trust Code and Chinese Trust Law and propose amendment suggestions therefor. Furthermore, Professor HU Tianlong argues that through the example of presumptive tax collection, the administration and management of tax collection should adhere to the basics of protecting taxpayers and advancing the goals of de-administrating arduous procedures to conform to new trends of international social and economic development. Likewise, Professor ZHENG Yi, who is a rising young scholar on fiscal and taxation law, submits that the Chinese government should aggressively embrace the normative discourse of restructuring by assimilating the Belt and Road
Initiative into the new international economic order — how to prescribe China’s foreign
investments and tax credit in a compatible manner to substantiate legislative intent while
maintaining specific rules without archaic unilateral characters.

        Facing the significance of international economic dynamics and geopolitical power
reshuffling, the Chinese government — at a more established horizon — may potentially undertake organized dynamics for broader harmony and foster a scheme of cooperative combat, especially around issues such as international investment, trade, tax, and related legal reforms. Most important in the longer term is the integration of systemic imperatives of the country’s economy into a new multilateral arena that reflects and foresees important structural changes in the world economy. Such institutional and organizational developments need to be taken in earnest. At least in the near future China could expose — and possibly even help accomplish — a major standing of the world’s economic order and routines.

        The focus are consisted of five articles:

FOCUS 1.pdf

FOCUS 2.pdf

FOCUS 3.pdf

FOCUS 4.pdf

FOCUS 5.pdf