This article examines economic and other challenges that China is facing. It has completed its cycle as a high-growth, low-wage country and thus from now on, it should have to concentrate on efficiency of the economy. However, there are other issues like corruption, lack of cheap work force, lack of market liberalization, and political issues which will need to be addressed.
The majority of states recognize the lawfulness of expropriation or nationalization of foreign property, provided the taking is non-discriminatory; there is a public purpose; compensation is paid for the taken property; and due process of law is respected. The standard of compensation paid for the taken property is the most disputed requirement. This work examines the development of compensation theories through the most important milestone cases, the Hull and Calvo doctrines, United Nations’ documents and the Restatement (Third) of Foreign Relations Law of the United States.