Description
This book is about the forces that are reshaping the international law on foreign investment today. It begins by explaining the liberal origins of contemporary investment treaties before addressing a current backlash against these treaties and the device of investment arbitration. The book describes a long-standing legal-intellectual resistance to a neo-liberal global economic agenda, and how tribunals have interpreted various treaty standards instead. It introduces our reader to the changes now taking place in the design of a range of familiar treaty clauses, and it describes how some of these changes are now driven not only by developing and emerging economies but also by the capital-exporting nations. Finally, it explores the life, career and writings of Muthucumaraswamy Sornarajah, a scholar whose work has been dedicated to the realisation of many of these changes, and his views about the hold global capital has over legal practice.
Table of Contents
Preface; Acknowledgements; List of treaties, national legislation, cases and awards; Part I: 1. The worm's view of history and the twailing machine Chin Leng Lim; 2. The liberal vision of the international law on foreign investment Kenneth J. Vandevelde; 3. Caveat investors – where do things stand now? Leon Trakman and David Musayelyan; Part II: 4. Reforming the system of international investment dispute settlement Gus Van Harten; 5. The paranoid style of investment lawyers and arbitrators: investment law norm entrepreneurs and their critics David Schneiderman; 6. The COMESA Common Investment Area: substantive standards and procedural problems in dispute settlement Peter Muchlinski; 7. Lessons from the negotiations of the United Nations Code of Conduct on Transnational Corporations and related instruments Karl P. Sauvant; Part III: 8. India and investment protection Aniruddha Rajput; 9. China-US BIT negotiation and the emerging Chinese BIT 4.0 Wenhua Shan and Hongrui Chen; Part IV: 10. Regulating foreign investment: Methanex revisited Kyla Tienhaara and Todd Tucker; 11. The new frontier: economic rights of foreign investors versus government policy space for economic development Howard Mann; 12. Giving arbitrators carte blanche – fair and equitable treatment in investment treaties Nathalie Bernasconi-Osterwalder; Part V: 13. Is the umbrella clause not just another treaty clause? Chin Leng Lim; 14. Internationalisation and state contracts: are state contracts the future or the past? Jean Ho; Part VI: 15. State capitalism and sovereign wealth funds: finding a 'soft' location in international economic law Jiangyu Wang; Part VII: 16. The many-headed hydra and laws which rage of gain, a chapter in conclusion Chin Leng Lim; Index.
