On Inter-Disciplinary and Inter-Systemic Approaches to International Investment Law

Author(s):  
Jürgen Kurtz

This review essay identifies two fundamental flaws in much of the secondary literature examining international investment law. The first is a clear attention to disciplines other than law in identifying and understanding the justifications for constraints on state regulation vis-à-vis foreign investment. Secondly, there are stubborn vestiges of self-containment among a sizeable set of legal commentators in this field. This typically reaches its apotheosis in instinctive and hostile opposition to usage of lessons and techniques employed in international trade law. Measured against the direction and nature of contemporary state practice, this type of older commentary is rapidly approaching an overdue expiry date. Prospects in International Investment Law and Policy marks a welcome and significant break from these flawed pathologies. Many of the contributions will shape the contours of innovative and important scholarship in this field. It is a collection that merits careful and repeated consideration.

Author(s):  
Surya P Subedi

This chapter discusses the development and current state of international investment law, which encompasses international finance law, international trade law, international investment law, and regional economic trade agreements. Recent progressions in the area of international financial law, international trade law, and investment law demonstrate that other areas of international regulation have a decisive influence on international investment law. Moreover, international investment law is more increasingly focused on development concerns. International investment law is currently going through an exciting phase in its development. It has now become one of the fastest changing areas of international law with exciting and far-reaching implications for both investment-receiving and investment-exporting countries, thanks to enterprising claimants and innovative interpretations and expansive approaches adopted by international investment tribunals. This chapter seeks to capture the law and the recent trends in both State practice and jurisprudence in this area of international law.


2017 ◽  
Vol 17 (1) ◽  
pp. 33-63 ◽  
Author(s):  
TANIA VOON

AbstractPessimism abounds in international economic law. The World Trade Organization (WTO) faces an uncertain future following its Ministerial Conference in Nairobi in 2015. International investment law is under attack in countries around the world, while mega-regional agreements such as the Trans-Pacific Partnership and the Trans-Atlantic Trade and Investment Partnership are beset by world events, from the United States’ federal election to the unexpected Brexit outcome. Yet the appetite of numerous States to continue forging plurilateral trade and investment deals provides some cause for hope. Viewed alongside other institutional developments including consensus-building work at the United Nations Conference on Trade and Development and the United Nations Commission on International Trade Law, the potential arguably now exists for credible movement towards multilateral rules in investment law. While the WTO's current negotiating stalemate highlights the difficulties in reaching agreement among 164 Members, international trade law offers lessons for working towards multilateralism in the international investment law field. Alongside informal discussions about a world investment court, mega-regionals provide a vehicle for future multilateral investment rules, particularly through the Comprehensive Economic and Trade Agreement between Canada and the European Union, and the Regional Comprehensive Economic Partnership currently under negotiation in Asia.


Author(s):  
Doreen Lustig

This book presents a historical study of the international law of the private business corporation. The literature on corporations and international law typically concentrates on the failure to regulate corporations. This book challenges this ‘failure’ narrative and presents an alternative historical reading: a history of its facilitative role in constituting an economic order. This study draws inspiration from scholarship on the history of international trade law, international investment law, the history of global governance, and political economic analysis of international law, and connects these specialized fields in a single lens: the corporate form. The point of departure for this history is the simultaneous emergence of international law as a modern legal discipline and the turn to free incorporation in corporate law during the last third of the nineteenth century. The book demonstrates how the sovereign veil of the state and the corporate veil of the company were applied in tandem to insulate corporations from responsibility. Nevertheless, less powerful states invoked the same prevailing conceptions of the corporation, the sovereign state, and the relation between them, to curtail corporate power in struggles associated with decolonization. Reacting to these early victories, capital exporting countries shifted to a vocabulary of human rights and protected companies under a new regime of international investment law, which entrenched the separation between market and politics.


Author(s):  
Junianto James Losari ◽  
Michael Ewing-Chow

Countermeasures are part of customary international law and have been incorporated into the WTO as a mechanism to facilitate compliance. In the NAFTA sugar disputes, Mexico claimed that the measure in dispute was a countermeasure against a breach of NAFTA by the United States. Three US investors also claimed against Mexico under the investment chapter of NAFTA. All three ICSID tribunals held, for different reasons, that trade countermeasures affecting investor rights would be unlawful. Some of the tribunals’ reasoning that investors have direct rights could set up a clash between the trade and investment regimes. We argue that an authorized trade countermeasure should also be lawful in the investment law context. Coherence between the trade and investment regimes is essential in this age of global value chains in which investors are part of a complex trade network. We suggest ways to improve the jurisprudence and existing investment treaties.


2018 ◽  
Vol 112 ◽  
pp. 68-72
Author(s):  
Simon Batifort

In international investment law, some MFN claims mirror the use of MFN in international trade law. Other MFN claims are more expansive and controversial.


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