In recent years, Singapore has shown itself to be a nation of economic prosperity. This development, in part, has to do with its attention to the development of the rule of law. An article published by the Straits Times discusses a recent meeting where international legal scholars and corporate leaders took a look at the issues Singapore will need to address in order to continue its economic growth.
One element of this agenda includes the development of legal reform principles, similar to ALI’s restatements and uniform commercial code, through the establishment of an Asian Business Law Institute. In reference to this project, Singapore’s Chief Justice said, “The goal is to create for Asian nations a uniform commercial code and a restatement of principles governing conflicts of law.”
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