This article examines new Chinese migration into Europe during a period of economic stagnation - more specifically, the movement of Zhejiangese merchants in Southeast Europe. The Zhejiangese migration pattern is diversifying from a predominantly petty merchant phenomenon to include the...

Financial market infrastructures (“FMIs”), which facilitate the execution of financial transactions, exhibit such strong economies of scale that they are natural monopolies. In each market, production is controlled by a few dominant players. Federal courts have traditionally checked the...

Consolidation in the financial industry threatens competition and increases systemic risk. Recently, banks have seen both high-profile mergers and spectacular failures, prompting a flurry of regulatory responses. Yet consolidation has not been as closely scrutinized for clearinghouses, which...

Today, the need for nimble financial regulation is paramount. The Dodd-Frank financial reform bill has not prevented further scandals and will not stop banks from selling risky products. Yet one understudied law is a surprisingly versatile device that has the potential to temper financial risk:...

The reluctance of antitrust to condemn parallel exclusion permits oligopolies to be entrenched. This is because parallel exclusion — multiple-firm conduct that inhibits market entrants — cannot satisfy the current strictures of monopolization, which is understood to prohibit single-firm...

This Article assigns a redistributive role to the legal rules of trusts and estates. Unlike business law, trusts and estates has lagged in articulating a comprehensive theory on inequality. Consequently, income inequality is compounded intergenerationally as wealth inequality, with dire...

This Essay analyzes expressive boycotts in the market for wigs and hair extensions, where consumers are primarily African Americans and producers are almost uniformly Korean Americans. This type of ethnically segmented and misaligned (“ESM”) market raises unique doctrinal and theoretical...

China watchers have decried the emergence of the Cross-Border Interbank Payment System (“CIPS”) as a turning point in the move to dethrone the U.S. dollar. This Article situates CIPS, which clears and settles Chinese renminbi transactions, with other financial market infrastructures, drawing...

This Article, forthcoming in the American Journal of Comparative Law, assesses how Chinese intestacy laws augment and redress wealth inequality. In 2021, China’s first civil code took effect, reforming among other things the decades-old Succession Law. Focusing on the intestacy rules (the...

The COVID-19 pandemic has called for and generated massive novel government regulations to increase social distancing for the purpose of reducing disease transmission. A number of studies have attempted to guide and measure the effectiveness of these policies, but there has been less focus on...