Research On The Legal Issues Of The Construction Of The "Belt And Road" Investment Dispute Mediation Mechanism

In 2013,General Secretary Xi Jinping proposed the “Belt and Road” initiative.The initiative aims to combine the ancient Silk Road with the reality of regional economic development,adhering to the principle of mutual consultation,joint construction and sharing,and actively establishing multi-faceted economic cooperation partnerships with countries along the route such as trade,finance and investment.In the construction of the "Belt and Road",on the one hand,it is necessary to connect policies and systems between countries,on the other hand,it is also necessary to strengthen the connectivity of regional infrastructure,so it will inevitably bring a lot of international investment.However,the countries along the “Belt and Road” region are mainly developing countries and LDCs.Therefore,large amounts of foreign investment are bound to involve various barriers to entry and regulatory frictions,and the number of investment disputes in countries along the region increases.Is an inevitable trend.How to resolve these international investment disputes in a suitable way has become an important issue that cannot be ignored on the road of building the “Belt and Road” initiative.At present,the international investment arbitration system dominated by Western countries dominates the international investment dispute settlement mechanism.However,along the route includes developed countries,developing countries,and even some least developed countries.Countries with different economic development levels have obvious differences in political and cultural backgrounds,economic development levels,and the degree of perfection of the rule of law.Traditional investment dispute resolution mechanisms have not been able to It fits well with current real needs.The limitations of the traditional international investment arbitration system,such as cost,time-consuming,and damage to the friendly cooperative relations between the two sides,are more obvious in the countries along the “Belt and Road”.In the process of implementing the “Belt and Road” initiative,it is indeed necessary to explore the establishment of a suitable new mechanism for the settlement of international investment disputes along the “Belt and Road”.As one of the diversified dispute resolution methods,the mediation mechanism has not only proved its effectiveness after repeated practice,but also has certain advantages for the actual situation of the countries in the "Belt and Road" region.The mediation mechanism is a more peaceful way to resolve investment disputes,which is beneficial to the interests of investors and host countries,and is in line with the inherent spirit of the “Belt and Road” initiative.The application of the mediation mechanism to the settlement of investment disputes in the “Belt and Road” cannot be achieved without a special mediation mechanism for the well-functioning investment disputes in the “Belt and Road”.Provide strong legal support.In addition to the introduction and conclusion,this article mainly includes the following four parts:The first part mainly elaborated on the existing investment dispute resolution mechanism of the “Belt and Road” and its existing problems.This part first provides a brief overview of investment disputes and dispute settlement along the “Belt and Road”,and secondly analyzes in depth the limitations of existing investment dispute resolution mechanisms due to differences in economic,political,and cultural backgrounds,including arbitrators.Elections and arbitration costs are too high,inconsistent awards,undermining the friendly relations and legitimacy crisis between the parties.In the second part,based on the current status and issues raised in the first part,the reason for further constructing the “One Belt One Road” investment dispute mediation mechanism in the “One Belt One Road” region is discussed.From the perspective of necessity and feasibility,this part argues that The construction of the "One Belt One Road" investment dispute mediation mechanism has urgent practical value and reasonable theoretical significance.As the focus of the full text,the third part focuses on the question of how to construct the “Belt and Road” investment dispute mediation mechanism.After demonstrating,the idea of using the Asian Investment Bank as a platform to establish the “Belt and Road” investment dispute mediation center is proposed.The construction path,basic ideas and system design have given relevant feasible suggestions.The fourth part mainly focuses on China’s strategic choices,and discusses the significance of constructing the "One Belt,One Road" investment dispute mediation mechanism to China,and analyzes China’s strategic choices and roles from both domestic and international levels.