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Innovation Helps with Sustainable Business, Law, and Digital Technologies: Economic Development and Dispute Resolution

Author

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  • Shumin Wang

    (School of Law, Dalian Maritime University, Dalian 116026, China)

  • Yincheng Li

    (School of Law, Dalian Maritime University, Dalian 116026, China)

  • Muhammad Bilawal Khaskheli

    (School of Law, Dalian Maritime University, Dalian 116026, China
    School of Law, Hainan University, No. 58 People’s Avenue, Haikou 570228, China)

Abstract

This paper discusses the dispute resolution procedure that innovative digital commerce has adopted for the future for sustainable business. As digital trade becomes increasingly important for economic growth, trade-related disputes must be settled in both business and consumer situations. This study examines the advantages of using digital technology to resolve disputes involving digital trade and discusses how digital technology is changing traditional dispute resolution procedures. Conventional trade disputes differ from their digital counterparts because the digital sphere gives rise to more complex trade conflicts that require stronger regulatory resources. The utilization of digital technologies such as blockchain, artificial intelligence, innovation-based models, digital strategies, and others can enhance the efficacy of conflict resolution. Digital technology can assist in resolving disputes with digital trade, even though procedural fairness issues including prejudice and algorithmic opacity may also arise. The research highlights the importance of developing innovative techniques to set up trade dispute resolution procedures and building legal frameworks for jurisdiction, trial, and enforcement procedures in addition to stressing the usage of digital technology.

Suggested Citation

  • Shumin Wang & Yincheng Li & Muhammad Bilawal Khaskheli, 2024. "Innovation Helps with Sustainable Business, Law, and Digital Technologies: Economic Development and Dispute Resolution," Sustainability, MDPI, vol. 16(10), pages 1-18, May.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:10:p:3910-:d:1389784
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    References listed on IDEAS

    as
    1. Henry Gao, 2018. "Digital or Trade? The Contrasting Approaches of China and US to Digital Trade," Journal of International Economic Law, Oxford University Press, vol. 21(2), pages 297-321.
    2. Sara Majid & Xin Zhang & Muhammad Bilawal Khaskheli & Feng Hong & Patricia Jie Hung King & Imran Haider Shamsi, 2023. "Eco-Efficiency, Environmental and Sustainable Innovation in Recycling Energy and Their Effect on Business Performance: Evidence from European SMEs," Sustainability, MDPI, vol. 15(12), pages 1-30, June.
    3. John Zeleznikow, 2021. "Using Artificial Intelligence to provide Intelligent Dispute Resolution Support," Group Decision and Negotiation, Springer, vol. 30(4), pages 789-812, August.
    4. Lie Ao & Rohit Bansal & Nishita Pruthi & Muhammad Bilawal Khaskheli, 2023. "Impact of Social Media Influencers on Customer Engagement and Purchase Intention: A Meta-Analysis," Sustainability, MDPI, vol. 15(3), pages 1-15, February.
    Full references (including those not matched with items on IDEAS)

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