Research On Appellate Mechanism Of International Investment Arbitration

International investment in today's society has gradually become an important engine for promoting economic globalization.The increase in international investment has also aggravated the emergence of international investment disputes.The main sources of international investment include foreign investors,host country partners,and host government.Therefore,international investment disputes can be divided into disputes between foreign investors and host country partners and between foreign investors and host governments.There are two types of controversyThe international investment disputes discussed in this paper refer to disputes between foreign investors and host governments.The causes of disputes between foreign investors and host governments are complex and most difficult to resolve.The main features are:(1)The subjects are very special,the host of the dispute is the host government,and it is based on the "public behavior" of the host government.The controversy that arises,therefore,must involve issues such as sovereign immunity during the resolution of the dispute;(2)It is precisely because of the differences in the subject status between the two that led to the complexity of applying the law and resolving disputes in resolving disputes.Sex;(3)The consequences will be special,because it may lead to the foreign investor's home country to exercise diplomatic protection rights and create economic,political and even military disputes between the two countries with the host country government,thus politicizing and complicating the investment issue.From a practical point of view,the methods for resolving international investment disputes are as follows:(1)Negotiation or negotiation to resolve;(2)Local remedies for host countries;(3)Foreign court actions;(4)Diplomatic protection;(5)International arbitration.Among them,international investment arbitration has many advantages,such as professionalism,neutrality,and efficiency,and it can satisfy the interest demands of international investors.Therefore,it is highly respected by the parties concerned.However,in recent years,with the rapid increase in the number of investor-hostdom investment arbitration cases,the current international investment arbitration also has some drawbacks.The main manifestations are the inconsistency of arbitral awards,ignorance of host country sovereignty,and the expansion of arbitrators' interpretation rights.-The Investor-State Settlement(ISDS)mechanism has caused a lot of problems in practice,especially the inconsistency of arbitral awards,which has led to the "legitimate crisis" of the mechanism.The current international investment arbitration supervision mechanism cannot solve this problem.As a result,the international community has actively explored various ways to deal with this crisis.The establishment of an arbitration appeal mechanism is one of the most appealing methods.In the face of the "legitimate crisis" of increasing investment arbitration,both the United States and the ICSID Secretariat have proposed the establishment of an investment arbitration appeal mechanism,hoping to use the appeal mechanism to ensure the consistency of investment arbitration awards.However,a great deal of resistance has emerged in the process of implementation.The main manifestations are:Most of the international investment arbitrations have been stipulated by bilateral agreements,and they have been fragmented,so it is impossible to promote them on a large scale;the most important issue is that the establishment of an appeal arbitral tribunal can determine the verdict of first instance.The results of the process and the actual changes,cancellations,etc.,which may have a devastating impact on the finality of international investment arbitration.Therefore,most of the previous proposals have only stayed at the academic level and have not yet addressed specific and feasible systems.Until September 16,2015,the European Commission formally announced the draft proposal of the TTIP Investment Protection and Investment Tribunal System(Investment Chapter),together with the publication of reading guides,advocating the establishment of a permanent international investment arbitration court system for the finalization of the two sanctions(Investment Court System(referred to as ICS).This draft of the EU claims that it was used only internally and has not yet been submitted to the United States for review.However,in the EU's subsequent foreign investment agreement,the EU's recognition of the draft and its determination to spare no effort to implement it are reflected.This article will use the perspective of the International Court of Investment Arbitration initiated by the European Union.Through discussing the shortcomings in international investment arbitration,it has seriously affected the original intention of international investment arbitration.International investment arbitration has been difficult to guarantee the interests of the parties to the arbitration,and it has also failed to provide benefits to both parties.Make predictions and guidelines.The emergence of these defects makes the establishment of an international investment arbitration appeal mechanism necessary.In light of the advances made by the previous OECD,the United States,and ICSID to establish an investment arbitration appeal mechanism and the feasibility of establishing an investment arbitration appeal mechanism at this stage,the current investment arbitration appeals court The establishment of international arbitration is conducive to the development of international investment,with a view to providing minor contributions to the establishment of an investment arbitration appeal mechanism that can be introduced into bilateral or multilateral investment treaties in due course.