Research On The International Investment Dispute Settlement Mechanism Under The Belt And Road Initiative

Since the launch of the "The Belt and Road" propose,a series of remarkable achievements have been made in trade,cultural exchanges and policies connections,offering a new opportunity for Chinese economic development and opening up a new path for international investment."The Belt and Road" connects Asian,Europe and Africa,covering a wide range of territory,including some developed countries like Japan and Italy and some developing countries like China,Malaysia and Vietnam.The conditions of economics、cultures、history and politic in each country are not similar,These factors may hinder the development of international investment,cause international investment disputes and greatly affect the enthusiasm of enterprises for foreign investment.The countries along "The Belt and Road" are located in different areas,different countries have different legal systems,In addition,there is no unified treaty policy on investment in the region,Therefore,there is no exclusive investment dispute settlement mechanism in the region.At present,the other countries that invest in dispute settlement organs are ICSID,WTO,ICC,PCA and other investment dispute settlement agencies.But there are various problems in the existing mechanism,this makes the investment disputes can not be effectively and timely resolved,affecting the interests of all parties.In this context,the author analyzes the investment dispute settlement mechanism used by countries along the "The Belt and Road",and put forward my own opinions on the reform of the main settlement mechanism.In this paper,the author analyzes the dispute settlement mechanism from four aspects,the first chapter is "The Belt and Road"initiative,the investment status,the characteristics of investment disputes and the existing investment dispute settlement mechanism.The second chapter combs the problems existing in the application of the existing investment dispute settlement mechanism in the countries along the line,there are some problems in the dispute settlement mechanism,such as incomplete coverage,lack of transparency,high cost of arbitration and litigation,at the same time,there are also some problems,such as the countries along the route are not parties to the treaty,the bilateral treaties have restrictions on the application of the investment dispute settlement mechanism,and the lack of professional personnel.The third chapter is about the reform of the investment dispute settlement mechanism with the highest recognition and utilization rate in order to better solve their own problems,but the scope of the reform proposals is still limited,therefore,suggestions on how to improve ICSID are put forward.Countries along one belt,one road should be more active in the reform of existing investment institutions.At the same time,we should train our own professional talents and import them,better control of discourse power.The fourth chapter is one belt,one road investment dispute settlement body.Although ICSID is already undergoing a fourth reform,but considering all kinds of problems,In the long run one can build a "one belt,one road" investment dispute settlement body,which can better solve these problems and better safeguard the interests of the countries along the line.In view of the one belt,one road,the Asian infrastructure bank has been set up.Therefore,the author suggests that the investment dispute settlement institution can be constructed based on ICSID based on the behavior of sub investment,and the useful experience of ICSID can be fully used to avoid the existing problems.Moreover,one belt,one road,one can be considered as the best way to bring into full play the advantages of mediation,litigation and consultation.