Perfection Of China 's Legal System Of Investment In Vietnam From The Perspective Of Cooperative Game

After the economic reform carried out in the late 1980s, economy in Vietnam has been developed in a high rate, which makes Vietnam the fastest growing economy among ASEAN countries. Vietnam and China are close neighbors, with its accession to the World Trade Organization and the establishment of China-ASEAN Free Trade Area, cooperation between the two sides deepened. China has become Vietnam’s largest trading partner for years, moreover, bilateral cooperation in the area of investment has developed rapidly. However, the more Chinese companies invest in Vietnam, the more deficiencies we can see in the present legal system of both sides. This not only affects the creation and allocation of investment income, but the long-term development of China’s investment in Vietnam. Therefore, the current situation need improving the legal system, so that we can afford an effective legal protection for Chinese investment in Vietnam.This paper is divided into four parts, the main structure is based on the existing rules related to Chinese investment in Vietnam, the new development of international investment law and our foreign investment practice. By introducing the game theory, this paper seek to find the balance of interest between the government of Vietnam and Chinese enterprises, and put forward some countermeasures from a legal perspective.The first chapter introduces the theoretical and the realistic basis of the improving of the legal system which is related to Chinese investment in Vietnam. In addition, by elaborating the game theory and the development trend in the international investment law, this chapter analyzes the characteristics of the bilateral investment agreements China signed in recent years.The second chapter introduces the related domestic laws, including those of both Vietnam and China. Vietnam’s new investment law entered into force in 2015, which has greatly enhanced its level of liberalization of investment. And China urgently needs to improve its foreign investment law system.The third chapter focus on the relevant international laws, including the bilateral investment agreement between Vietnam and China, China-ASEAN Investment Agreement and some other global rules which are related to investment, such as GATS, TRIMs, and the newly sighed TPP treaty.In the last chapter, on the basis of studying the current rules, the paper ci=ome to a conclusion that the present legal system needs to be perfected, by means of cooperative game theory of law. On the common premise of cooperation, the author proposed some measures to improve the legal system which involves Chinese investment in Vietnam.