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The Legitimacy Crisis Of The International Investment Arbitration And Relevant States' Choice Of Resistance

Posted on:2019-04-15Degree:MasterType:Thesis
Country:ChinaCandidate:Shu TuFull Text:PDF
GTID:2416330545495421Subject:International Law
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In recent years,the international investment arbitration has faced 'a legitimacy crisis'.A variety of critics,including legislators from different countries,non-governmental organizations(OGNs)and professionals contend that the Investor-State Dispute Settlement(ISDS)system is inconsistent in decision-making,non-transparency,in favor of the private interests of the investors over the public interests of the host States and so on.In the face of the status quo,the relevant countries have a lot of dissatisfaction that they have taken corresponding measures to express their resistance to the ISDS system.Many critics call for a 'reshaping' of the international investment arbitration,however,so far,most of the subsequent treaty practices of countries which initially rejected ISDS shows that the ISDS mechanism still retains as the preferred method of addressing investment disputes nowadays.Apart from the introduction and conclusion,this paper can be divided into three chapters:First of all,this paper clarifies an overview of the countries alleging to repudiate ISDS,reasons for resistance,subsequent treaty practices and challenges faced by States attempting to reject it.Secondly,on this basis,the paper reveals that most of these countries are continuing to provide for ISDS provisions in their treaties by tailoring their policies in different ways.In addition,the ICSID caseload statistics and data from some other official resources such as UNCTAD,as well as the fact that States declaring to resist ISDS system had experienced a major policy shift on investor-State arbitration and other State practice indicate that the ISDS mechanism is still an effective way to resolve investment disputes.Though its dominant position for investment arbitration may have been shaken,it will continue to maintain a stronghold and countries may find corrective measures in the ambit of the ISDS system itself.Finally,this paper summarizes the innovations and shortcomings of the models which are trying to reform or replace the international investment arbitration(such as the EU Investment Court System,the UNASUR Dispute Resolution Center),and other measures taken by the international community to improve the ISDS system in response to the urgent challenges posed by the legitimacy crisis of the international investment arbitration,and then puts forward some relevant reform proposals.
Keywords/Search Tags:Investment Arbitration, Legitimacy Crisis, Subsequent Practices, Reform Approaches
PDF Full Text Request
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