An American company enters into a contract with a Chinese computer manufacturing company. A dispute arose over payments due the American company by the Chinese company. The contract provided for disputes to be arbitrated in China, with the arbitrator being selected from a panel of arbitrators maintained by a Chinese arbitration institution. Based on what you have learned in the chapter what are the advantages and disadvantages to the American company in this arbitration arrangement? What advice would you give to the American company on future arbitration agreements with Chinese businesses?