1 Introduction
In international trade and commerce, arbitration has become
exceptionally strong and widely accepted as a means of resolving
disputes. Exactly how widely accepted is probably impossible to
know, but some commentators have suggested that a figure as high as
90% of all international contracts are governed by an arbitration
clause.
Rapid globalisation has meant a corresponding growth in the
volume of international contracts with clauses providing for
international arbitration. In turn, the availability and
effectiveness of international arbitration has been seen by many as
a spur to crossborder commerce and investment.
As the focus of the world economy has tilted towards the higher
growth economies in emerging markets, the disputes brought to
international arbitration are increasingly drawn from trade with
and between emerging economies. Although the traditional centres of
international arbitration in Western Europe and North America are
busier than
