Rebuilding trust in the global economy: Lessons from Chinese law

This is a joint event with The Institute of New Economic Thinking at the Oxford Martin School, the Political Economy of Financial Markets Programme at St Antony’s, and the Global Economic Governance Programme.

Trust is essential for the effective functioning of the global economy. The global financial crisis and related events have demonstrated that market outcomes are often not sufficient to ensure trustworthy behaviour. What needs to be done to ensure trustworthiness becomes the norm? What role does law play? How can we build trust at the global level given competing legal traditions?

In this seminar Nicholas Morris, Oxford Martin Visiting Fellow, will argue that trust is essential to the effective functioning of the international economy. The development of an international legal framework, which encourages and enforces pro-trust norms needs to be sensitive to the different traditions, philosophies and national practices. Confucian traditions embodied in Chinese law provide helpful guidance for global legal reform.