The Study On The Investment Dispute Settlement Mechanism Between Investors And Host Countries Under The Belt And Road Initiative

The "Belt and Road" Initiativeis the abbreviation of "Maritime Silk Road" and "Silk Road Economic Belt".It is an international cooperation initiative proposed by President Xi Jinping under the new era.It is of great importance to the development of our country and countries along the route and to enhance our country's right to speak.And international influence plays an important role.Currently there are 65 member states under this initiative,including: East Asia(Mongolia),18 West Asia countries(Iran;Iraq;Turkey;Syria;Jordan;Lebanon;Israel;Palestine;Saudi Arabia;Yemen;Oman;UAE;Qatar;Kuwait;Bahrain;Greece;Cyprus;Egypt's Sinai),8South Asia countries(India;Pakistan;Bangladesh;Afghanistan;Sri Lanka;Maldives;Nepal;Bhutan);5 Central Asia countries(Kazakhstan;Uzbekistan;Turkmenistan;Tajikistan;Kyrgyzstan),10 ASEAN countries(Singapore;Malaysia;Indonesia;Myanmar;Thailand;Laos;Cambodia;Vietnam;Brunei;Philippines),7 CIS countries(Russia;Ukraine;Belarus;Georgia;Azerbaijan;Armenia Moldova),16 countries in Central and Eastern Europe(Poland;Lithuania;Estonia;Latvia;Czech Republic;Slovakia;Hungary;Slovenia;Croatia;Bosnia and Herzegovina;Montenegro;Serbia;Albania;Romania;Gallardo;Macedonia).From the locations of the above-mentioned countries along the route,it can beseen that these countries are in different regions,and each region and each country has different legal systems and foreign investment laws.In addition,all countries have signed bilateral or multilateral investment agreements with other countries.No unified investment-related policies and regulations have yet been formed,and no investment dispute resolution mechanism has been formed.The disputes arising from cross-border investment generally include disputes between countries and countries,disputes between individual investors,and disputes between individuals(including legal investors)and the state.The first of these can be dealt with through diplomatic and other political channels.The second can be resolved by the relevant provisions of the private law;while the third dispute involves both the private subject and the country which is not as simple as the former.Under the “Belt and Road”,since most countries along the route have low levels of economic development,investors may trade with the national government and disputes between investors and the host country will occur in the event of disputes in the later period.Due to different investment laws of different countries and the sovereignty of countries are involved,and the fact that a relatively definite investment dispute resolution mechanism has not yet been formed under the “One Belt and One Road” strategy,it is necessary to prevent disputes in time to protect the interests of all parties involved.In the context above,I wrote this article.In general,I will study dispute settlement mechanisms between major investors and host countries in the world,study the disputes between investors and host countries and their solutions,and combine the countries along the “One Belt and One Road” countries.The situation of the legal system and the methods for solving investment disputes are expected to contribute to the dispute settlement between investors and host countries under the “One Belt and One Road” approach.In this article,I will demonstrate the following four aspects.The first chapter provides an overview of investment disputes between investors and host countries,and briefly introduce the basic situation of investment disputes between investors and host countries.It also describes that under the “Belt and Road” initiative,it is easy for investors and host countries to occur investment disputes due to different legaltraditions and different domestic legal construction conditions in the countries along the route.Some countries may adopt trade-related measures and so on.Therefore,certain investment dispute resolution mechanisms are needed to deal with disputes between investors and host countries under the “Belt and Road”.The second chapter analyzes existing dispute resolution mechanisms and analyzes the major investment dispute resolution mechanisms which deals with the disputes between investors and host countries in the world: The International Center for Settlement of Investment Disputes(ICSID)and the United Nations Commission on International Trade Law(UNCITRAL).Mainly through the data analysis of the cases handled by the two agencies,the reasons for the popularity of these two agencies in the international are found,and the disadvantages of the two have also been discovered,which proves that a new dispute resolution agency needs to be established under the “Belt and Road”initiative to deal with investment disputes between investors and host countries.The third chapter is for feasibility analysis.It mainly analyzes the significance of the construction of the new mechanism,the available platforms,and the necessity of the construction of the mechanism.It concludes that the investment dispute resolution mechanism between investors and host countries under the “Belt and Road” should be built.The fourth chapter is the recommendations which is based on the opinions and suggestions put forward by the Central People's Government in a comprehensive review of the documents reviewed and adopted by the Central Leading Group for Reform in January 2018 “Opinions on Establishing the “One Belt and One Road”Dispute Settlement Mechanism and Institutions”.In order to improve the international nature of China's International Commercial Court,the international nature of the Belt and Road International Dispute Management Center,and its acceptance in countries along the route,it propose the following five recommendations: Firstly,to improve the transparency of the dispute settlement mechanism;Secondly,diversify the ways of dispute settlement;Thirdly,to enhance the representation of the dispute settlement mechanism;Fourthly,to improve the flexibility of the dispute settlement mechanism;Finally,to enrich the working languages of the dispute settlement mechanism.Through the above analysis and suggestions,I hope that the thesis will play someroles in the implementation of the “Belt and Road” to a certain extent.At the same time,it will play a valuable role in the follow-up scholars' research in this area and provide valuable research ideas.