L.In the long run，developing countries may be bigger losers.Local arbitration may facilitate deals and bolster short.term growth.But if it reduces the pressure from multinationals and local finns for simpler laws，berer courts and less political corruption，it may delay attempts to establish legal systems that work not just for businesses b.ut for everyone else too.
46.China and India would be very fragile in the competition because of their wrong commercial laws and inemcient courts.
47.The exorbitant privilege of issuing world’s“reserve law”make American and Britain the absolute winners in global business resorting to their laws.
48.On the contrary，domestic arbitration is considered as legal standards to be adopted immediately.
49.America and Britain mostly gain profits from their leading role in providing legal rulings.
50.The lawyers，middlemen of rich world，took a share of spoils in the deal.
5 1.Local arbitration may bring some facilities in a short time，while it delays the intention for everyone to establish legal systems in the future.
52.According to a recent survey,Chinese jurisdiction has been the second most challenging one after America.
53.It is a wise choice for foreign finns in Brazil to accept the locA. arbitration rather than politicized and inefficient courts.
54.It is a tough task to break this duopoly in a short time.
55.Strongly relying on American and Britain law firms render it difficult for parties to trust other reliable firms，such as Hong Kong and Frankfurt.
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