Study Of International Investment Law In The Nafta

Since 1980s, the process of economic globalization and liberalization has been accelerated. As investment becomes the primary form in international economic activities, lack of multilateral rules concerning the international investment turned into the most important factor influencing the development of international investment. Currently, the research for a comprehensive multilateral agreement of investment, therefore, has grown into one of the most significant programs in the area of international investment law.U.S.-led developed countries have guided the institution of international investment rules for long. The bilateral investment treaty implemented by U.S. in 1980s has become a blueprint to developed countries in their negotiation for international investment conventions. At the end of 1980s, U.S. and Canada concluded Free Trade Agreement (FTA), which included a special chapter with regard to international investment. In the earlier 1990s, America, Canada and Mexico initiated the negotiation about North American Free Trade Agreement (NAFTA). As a comprehensive agreement, NAFTA included trade of goods, trade of service, investment, protection of intellectual property, policy about competition, dispute settlement system and other related matters. The success of negotiation on NAFTA and the establishment of North American Free Trade Area have greatly promoted the trade and investment among these three countries. NAFTA also included the developing country Mexico into an investment agreement with high protection standards, and it eventually made Mexico waive the "Calvo Doctrine" that this developing country has long been followed.The investment rules established by NAFTA's 11th chapter, the section particularly focusing on the investment, mirrored the point of view of America in the investment protection and liberalization and realized its objectives in investment areas. This chapter also has been used as a stylebook by European nations in their negotiation of Energy Charter Treaty and OECD in its negotiation of multilateral investment agreement. As a result, chapter 11 of NAFTA plays a key role in the area of international investment rules.This dissertation is composed of eleven sections. Firstly it analyzes negotiation background of NAFTA, introduces the main contents of NAFTA, and studies the historical evolvement of international investment agreement. Then, the dissertation researches and explores the formation of the primary terms and conditions of chapter 11 of NAFTA, its characteristics, effects and the influence it will produce to futurenegotiation of international investment agreements.Negotiation of NAFTA has specific political, economic and historical backgrounds. Establishing North American Free Trade Zone is an momentous step for America to carry out its district economic strategies in west hemisphere, and also is a significant measure for America to keep its economic hegemony and leadership in the institution and implementation of international economic rules. The goal of chapter 11 of NAFTA is to actualize the agreement's aim ---stimulate investment opportunities in every contracting state. Chapter 11 is divided into three sections: the first section (section A) stipulates governmental obligations of every contracting state in protection and promotion of investment, which is the key content of this chapter; the second section (section B) provides dispute settlement system between one contracting state and an investor from another contracting state; and the third section is definitions of this chapter. The substantial obligations of every contracting state government stipulated in the first section mainly include: (1) every state should grant investors of contracting countries and their investments national treatments, the most-favorable national treatment, and these treatments conforming to international law which contains impartial and equitable treatments and adequate protections; (2) every country should not place performance requirements on investments in its territory,...