Alternative visions of the international law on foreign investment : essays in honour of Muthucumaraswamy Sornarajah / edited by Chin Leng Lim, University of Hong Kong and Keating Chambers, London.
2016
K3830 .A425 2016 (Map It)
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Title
Alternative visions of the international law on foreign investment : essays in honour of Muthucumaraswamy Sornarajah / edited by Chin Leng Lim, University of Hong Kong and Keating Chambers, London.
Published
Cambridge, United Kingdom : Cambridge University Press, 2016.
Call Number
K3830 .A425 2016
ISBN
9781107139060 (hardback)
1107139066 (hardback)
1107139066 (hardback)
Description
xxxv, 494 pages : illustrations ; 24 cm
System Control No.
(OCoLC)927619763
Summary
"International economic law is a branch of public international law. Its sub-fields, however, have taken on the appearance of disconnected specialist subjects over the years; not least in the world of international legal practice with its Gattologists, Bitologists and sovereign debt workout specialists. In recent decades, the international law on foreign investment especially risked becoming unmoored from sovereign legal relations. Sornarajah, however, always took the classic view of a subject rooted deeply in the sources and systems of public international law"-- Provided by publisher.
Bibliography, etc. Note
Includes bibliographical references and indexes.
Record Appears in
Table of Contents
List of figures
xi
List of tables
xii
List of contributors
xiii
Preface
xv
Acknowledgements
xvii
List of treaties, national legislation, cases and awards
xix
Part I
1
1.
worm's view of history and the twailing machine
3
Introduction / C.L. Lim
3
Muthucumaraswamy Sornarajah / C.L. Lim
6
Overview of Sornarajah's works / C.L. Lim
12
Essays for Muthucumaraswamy Sornarajah / C.L. Lim
33
2.
liberal vision of the international law on foreign investment / C.L. Lim
43
Introduction / Kenneth J. Vandevelde
43
US postwar FCN treaties as a reflection of liberal principles / Kenneth J. Vandevelde
44
Defining liberalism / Kenneth J. Vandevelde
47
Fashioning a liberal investment regime / Kenneth J. Vandevelde
51
emergence of neoliberalism / Kenneth J. Vandevelde
56
Assessing the liberal vision today / Kenneth J. Vandevelde
60
Liberalism and its critics / Kenneth J. Vandevelde
64
Conclusion / Kenneth J. Vandevelde
67
3.
Caveat investors - where do things stand now? / Kenneth J. Vandevelde
69
Introduction / David Musayelyan Leon Trakman
69
new wave of discontent against ISA / Leon Trakman David Musayelyan
70
Arguments for and against ISA / Leon Trakman David Musayelyan
78
Investment agreements of states dissatisfied with ISA / David Musayelyan Leon Trakman
86
Why ISA has retained its resilience / Leon Trakman David Musayelyan
96
Conclusion / Leon Trakman David Musayelyan
98
Part II / Leon Trakman David Musayelyan
101
4.
Reforming the system of international investment dispute settlement / David Musayelyan Leon Trakman
103
Introduction / Gus Van Harten
103
Professor Sornarajah's contribution / Gus Van Harten
104
Flaws in the official reform model / Gus Van Harten
106
European Commission's adoption of the official reform model / Gus Van Harten
108
Conclusion / Gus Van Harten
129
5.
paranoid style of investment lawyers and arbitrators: investment law norm entrepreneurs and their critics / Gus Van Harten
131
Introduction / David Schneiderman
131
Irreversible? / David Schneiderman
133
When things fall apart / David Schneiderman
135
Crisis? What crisis? / David Schneiderman
145
Conclusion / David Schneiderman
154
6.
COMESA Common Investment Area: substantive standards and procedural problems in dispute settlement / David Schneiderman
156
Introduction / Peter Muchlinski
156
Current issues in investor-state dispute settlement / Peter Muchlinski
159
Investor-state dispute settlement procedures under the CCIA Agreement / Peter Muchlinski
166
Substantive rights of action under the CCIA Agreement / Peter Muchlinski
178
Concluding remarks / Peter Muchlinski
184
7.
Lessons from the negotiations of the United Nations Code of Conduct on Transnational Corporations and related instruments / Peter Muchlinski
186
Part III / Karl P. Sauvant
195
8.
India and investment protection / Karl P. Sauvant
197
Introduction / Aniruddha Rajput
197
Foreign investment and India / Aniruddha Rajput
199
Legal framework for foreign investment / Aniruddha Rajput
203
Protection under international law / Aniruddha Rajput
210
Protection under municipal law / Aniruddha Rajput
213
Recent developments / Aniruddha Rajput
219
Conclusion / Aniruddha Rajput
221
9.
China-US BIT negotiation and the emerging Chinese BIT 4.0 / Aniruddha Rajput
223
Introduction / Hongrui Chen Wenhua Shan
223
background: why a BIT 4.0 now? / Wenhua Shan Hongrui Chen
224
issues: what has to be addressed? / Hongrui Chen Wenhua Shan
232
features: a model BIT with "Chinese Characteristics" / Wenhua Shan Hongrui Chen
247
Conclusion / Wenhua Shan Hongrui Chen
251
Part IV / Hongrui Chen Wenhua Shan
253
10.
Regulating foreign investment: Methanex revisited / Wenhua Shan Hongrui Chen
255
Introduction / Kyla Tienhaara Todd Tucker
255
case: Methanex v. United States of America / Kyla Tienhaara Todd Tucker
259
Academic reaction to the decision / Kyla Tienhaara Todd Tucker
268
legacy of Methanex / Kyla Tienhaara Todd Tucker
272
Beyond Methanex: treaty safeguards / Kyla Tienhaara Todd Tucker
278
Conclusions / Kyla Tienhaara Todd Tucker
287
11.
new frontier: economic rights of foreign investors versus government policy space for economic development / Kyla Tienhaara Todd Tucker
289
Introduction / Howard Mann
289
Sustainable development, economic development and income equity / Howard Mann
292
FDI and economic development: from assumptions to policy action / Howard Mann
297
Economic development and policy tools / Howard Mann
299
Tracking the development of international law in respect to the economic development tools and economic rights of transboundary investors / Howard Mann
301
Mapping the development tools and the trends / Howard Mann
320
Additional factors in investment treaties / Howard Mann
321
Conclusion / Howard Mann
322
12.
Giving arbitrators carte blanche - fair and equitable treatment in investment treaties / Howard Mann
324
Introduction / Nathalie Bernasconi-Osterwalder
324
fair and equitable treatment standard in treaties, their interpretation and state reaction / Nathalie Bernasconi-Osterwalder
326
Fair and equitable treatment standard explicitly linked to customary international law / Nathalie Bernasconi-Osterwalder
330
Looking for new approaches / Nathalie Bernasconi-Osterwalder
340
Concluding remarks / Nathalie Bernasconi-Osterwalder
344
Part V / Nathalie Bernasconi-Osterwalder
347
13.
Is the umbrella clause not just another treaty clause? / Nathalie Bernasconi-Osterwalder
349
Introduction / C.L. Lim
349
origin and definition of the umbrella clause / C.L. Lim
351
Sornarajah's scepticism / C.L. Lim
353
Observing the language of the umbrella clause / C.L. Lim
356
El Paso: the myth of the 'internationalised' contract lurks still / C.L. Lim
363
Distinguishing commercial from investment commitments / C.L. Lim
365
Acta jure imperii / C.L. Lim
367
Overlap with fair and equitable treatment and other substantive treaty standards / C.L. Lim
369
Problems with the contractual forum selection clause / C.L. Lim
369
doctrine of privity of contract / C.L. Lim
372
problem with elevating or internationalising the contractual terms under an umbrella clause / C.L. Lim
373
Conclusion / C.L. Lim
374
14.
Internationalisation and State contracts: are State contracts the future or the past? / C.L. Lim
377
Introduction / Jean Ho
377
State contracts as treaties / Jean Ho
378
Stabilisation clauses as tools of internationalisation / Jean Ho
396
Investment protection and immutable contracts / Jean Ho
399
Conclusion / Jean Ho
401
Part VI / Jean Ho
403
15.
State capitalism and sovereign wealth funds: finding a "soft" location in international economic law / Jean Ho
405
Introduction / Jiangyu Wang
405
Hard and soft law in international [economic] law / Jiangyu Wang
408
State capitalism under "hard" international economic law: WTO regulation of state enterprises / Jiangyu Wang
410
Santiago Principles and their discontents: the developing soft law framework for SWFs / Jiangyu Wang
414
Concluding remarks: an "inclusive soft law approach" / Jiangyu Wang
425
Part VII / Jiangyu Wang
429
16.
many-headed hydra and laws that rage of gain, a chapter in conclusion / Jiangyu Wang
431
privatisation of international state responsibility / C.L. Lim
431
Neo-conservatism / C.L. Lim
438
Need and greed / C.L. Lim
439
Sociology and legal doctrine / C.L. Lim
442
Power and justice / C.L. Lim
445
many-headed hydra / C.L. Lim
449
Privateers bearing letters of marque / C.L. Lim
452
To spurn the rage of gain / C.L. Lim
455
Index / C.L. Lim
457
Author Index / C.L. Lim
493