Research On The EU Investment Court System Regarding The Reform Of The ISDS Mechanism

In recent years,the role of global foreign investment in world economic exchanges has become increasingly important.The open and welcoming attitudes held by foreign investment in various countries once brought a surge in foreign investment and trade,promoted the level of economic development of the host country,and also led to in-depth discussions on the dispute resolution mechanism between foreign private investors and the host country (Investor State Investment Dispute,hereinafter referred to as "ISDS mechanism").Because the ISDS mechanism deals with disputes between investors and the host government caused by foreign investors (individuals or legal persons) making direct investment in the host country,the ISDS mechanism is also based on the particularity and complexity of the investment dispute.Correspondence is complex.The ISDS mechanism mainly includes political means in the form of peace talks,mediation,and diplomatic protection;and non-judicial friendly dispute settlement methods mainly in coordination,mediation,and arbitration;and domestic and international judicial relief.The ISDS mechanism reform discussed and studied in this article refers to the ISDS mechanism reform based on International Investment Arbitration.International Investment Arbitration has been considered as a neutral and effective ISDS mechanism,but gradually within many years of practice,there are various disadvantages such as low transparency,the independence and impartiality of international arbitrators,and inconsistencies in arbitral awards.In order to adapt the dispute settlement mechanism between investors and host countries to the requirements of the international investment environment in the new period and further maintain the stability of the international investment environment,countries are actively participating in the reform work related to the ISDS mechanism.This article takes the EU model based on the establishment of investment courts in the EU as a research perspective,and explores the institutional concept put forward by the EU in the reform of the traditional ISDS mechanism.Through this system concept,the Transatlantic Trade and Investment Agreement Partnership (hereinafter referred to as "TTIP") draft,the EU-Canada Comprehensive Economic and Trade Agreement (hereinafter referred to as "CETA"),and the EU-Vietnam Investment Protection Agreement signed with Vietnam (hereinafter The"EU-Vietnam IPA") and other international investment treaties embody specific considerations and analysis of the core links of the EU model,as well as areas and issues that remain to be resolved,and further explore the feasibility of the EU model as an alternative to the traditional ISDS mechanism as an alternative mainstream model in the field of investment dispute settlement in the future.The writing structure of this article is mainly divided into four chapters.First,in Chapter 1,the reasons for the urgent need for reform of the traditional ISDS mechanism and several types of reform programs advocated by the international community are included,including the establishment of a new one to replace the original.The EU model of the dispute settlement method of the arbitration mechanism,through comparative studies,it is concluded that the EU model is an unprecedented reform measure with substantial breakthroughs,which deserves further consideration and discussion;Chapters 2 and 3 are the core parts of this article.The European Union model,which focuses on the establishment of an investment court system,is an institutional reform and innovation that may be recommended as an alternative mainstream model of the ISDS mechanism in the future.Therefore,we need to analyze the core structure of this model.We also need to demonstrate how to overcome the uncertain links under this model,and how to make the technical connection between the EU model and the existing system,which is also the core focus of this article.To this end,the core content of this article will be divided into two chapters.In the second chapter,the core link of the EU model is mainly discussed,and the theory and practice of the EU are combined to give the considerations to the institutional setting.In Chapter 3,the connection between the EU model and the existing system is further expanded and analyzed;In the last part of this article,I mainly talk about China's response to the EU model,including the impact of the EU model on China and what kind of response China should make.