This scenario, however, would take time and the Philippines would have to compete with other potential relocation sites like Vietnam and Indonesia. The potential upside may not come about for a few years as firms would need to complete the lengthy process of shifting production sites.
Yet if adjudication were requested for more than a very small fraction of contracts, our court system would be swamped into immobility and the performance of our economy would suffer. Thus, if our market system is to function smoothly, the vast majority of trades must rest on mutual trust and only indirectly on the law.