The last few years have seen Asian jurisdictions such as Singapore and Hong Kong working hard to build themselves up as international arbitration centers—with some success. But for the most part, the biggest of big-ticket arbitrations, even those involving Asian parties, are still being heard outside of Asia, according to The American Lawyer's 2015 Arbitration Scorecard.

Out of 128 active arbitration cases worth $1 billion or more tracked by the Scorecard in 2013-2014, only seven were being argued before panels based in Asia.

Asia is also producing fewer big arbitration cases compared to Europe and slightly fewer compared to Latin America. This year's survey found 30 billion-dollar arbitrations—13 contract disputes and 17 investment treaty disputes—involving an Asian party. It tracked 52 arbitrations involving European parties and 34 involving Latin American parties.