Study On Investor-State Treaty Arbitration

Investor-state treaty arbitration is still in its newborn stage, and many shortcomings are highlighted in practice. The adherence to the framework of international commercial arbitration mechanism is the root of the problems. In order to settle the problems fundamentally and improve the current mechanism or reconstruct a more logical and prospective investor-state treaty arbitration mechanism, it is a must to get a clear understanding of the biased aspects in settling investor-state disputes applying commercial arbitration theory.Except for preface and conclusion, there are five chapters in the main body.The chapter one starts with differentiating and analyzing conception of investor-state treaty arbitration. Then it leads in the major premise of this essay, which is that current investor-state treaty arbitration applies commercial arbitration theory.The chapter two,three and four expound and prove three biased aspects in settling investor-state disputes applying commercial arbitration theory respectively. First of all, the biased aspect has manifested itself in the sphere of nature understanding, considering the practice overlooking the uniqueness of investor-state treaty arbitration. Secondly, the biased aspect has manifested itself in the sphere of practice effect, in view of the chaotic arbitration practice, deviating from the original intention of dispute settlement mechanism and application of commercial arbitration theory. The recent arbitration reforms aiming to settle the chaos, mainly concerned with consistency of awards and procedural transparency, prove the biased aspect in applying commercial arbitration from the side. Most importantly, the biased aspect has manifested itself on a realistic basis. Investor-state treaty arbitration applying commercial arbitration theory is inconsistent with the changing reality and global governance.Chapter five puts forward the goal,foundation and specific reform suggestions of reconstruction of Investor-state treaty arbitration mechanism, and how China replies in this new situation.