Alternative Visions of the International Law on Foreign Investment: Essays in Honour of Muthucumaraswamy Sornarajah PDF
Preview Alternative Visions of the International Law on Foreign Investment: Essays in Honour of Muthucumaraswamy Sornarajah
ALTERNATIVE VISIONS OF THE INTERNATIONAL LAW ON FOREIGN INVESTMENT MuthucumaraswamySornarajah (Photograph:DavidTan,2015) A L T E R N A T I V E V I S I O N S O F T H E I N T E R N A T I O N A L L A W O N F O R E I G N I N V E S T M E N T Essays in Honour of Muthucumaraswamy Sornarajah Edited by C.L. LIM UniversityofHongKongandKeatingChambers,London UniversityPrintingHouse,CambridgeCB28BS,UnitedKingdom CambridgeUniversityPressispartoftheUniversityofCambridge. ItfurtherstheUniversity’smissionbydisseminatingknowledgeinthepursuitof education,learningandresearchatthehighestinternationallevelsofexcellence. www.cambridge.org Informationonthistitle:www.cambridge.org/9781107139060 ©CambridgeUniversityPress2016 Thispublicationisincopyright.Subjecttostatutoryexception andtotheprovisionsofrelevantcollectivelicensingagreements, noreproductionofanypartmaytakeplacewithoutthewritten permissionofCambridgeUniversityPress. Firstpublished2016 PrintedintheUnitedKingdombyClays,StIvesplc AcataloguerecordforthispublicationisavailablefromtheBritishLibrary LibraryofCongressCataloguinginPublicationdata Sornarajah,M.,honouree.|Lim,C.L.(ChinL.),editor. Alternativevisionsoftheinternationallawonforeigninvestment:essaysinhonourof MuthucumaraswamySornarajah/editedbyChinLengLim. NewYorkCambridgeUniversityPress,2016. LCCN2015042969|ISBN9781107139060(hardback) LCSH:Investments,Foreign(Internationallaw)|BISAC:LAW/International. LCCK3830.A4252016|DDC346/.092–dc23 LCrecordavailableathttp://lccn.loc.gov/2015042969 ISBN978-1-107-13906-0Hardback CambridgeUniversityPresshasnoresponsibilityforthepersistenceoraccuracyof URLsforexternalorthird-partyinternetwebsitesreferredtointhispublication, anddoesnotguaranteethatanycontentonsuchwebsitesis,orwillremain, accurateorappropriate. CONTENTS Listoffigures pagexi Listoftables xii Listofcontributors xiii Preface xv Acknowledgements xvii Listoftreaties,nationallegislation,casesandawards xix PART I 1 1 Theworm’sviewofhistoryandthetwailingmachineby C.L.Lim 3 Introduction 3 MuthucumaraswamySornarajah 6 OverviewofSornarajah’sworks 12 EssaysforMuthucumaraswamySornarajah 33 2 Theliberalvisionoftheinternationallawonforeign investmentbyKennethJ.Vandevelde 43 Introduction 43 USpostwarFCNtreatiesasareflectionofliberal principles 44 Definingliberalism 47 Fashioningaliberalinvestmentregime 51 Theemergenceofneoliberalism 56 Assessingtheliberalvisiontoday 60 Liberalismanditscritics 64 v vi contents Conclusion 67 3 Caveatinvestors–wheredothingsstandnow?byLeon TrakmanandDavidMusayelyan 69 Introduction 69 ThenewwaveofdiscontentagainstISA 70 ArgumentsforandagainstISA 78 InvestmentagreementsofstatesdissatisfiedwithISA 86 WhyISAhasretaineditsresilience 96 Conclusion 98 PART II 101 4 Reformingthesystemofinternationalinvestmentdispute settlementbyGusVanHarten 103 Introduction 103 ProfessorSornarajah’scontribution 104 Flawsintheofficialreformmodel 106 EuropeanCommission’sadoptionoftheofficialreform model 108 Conclusion 129 5 Theparanoidstyleofinvestmentlawyersandarbitrators: investmentlawnormentrepreneursandtheircriticsby DavidSchneiderman 131 Introduction 131 Irreversible? 133 Whenthingsfallapart 135 Crisis?Whatcrisis? 145 Conclusion 154 6 TheCOMESACommonInvestmentArea:substantive standardsandproceduralproblemsindisputesettlementby PeterMuchlinski 156 contents vii Introduction 156 Currentissuesininvestor-statedisputesettlement 159 Investor-statedisputesettlementproceduresunderthe CCIAAgreement 166 SubstantiverightsofactionundertheCCIA Agreement 178 Concludingremarks 184 7 LessonsfromthenegotiationsoftheUnitedNationsCodeof ConductonTransnationalCorporationsandrelated instrumentsbyKarlP.Sauvant 186 PART III 195 8 IndiaandinvestmentprotectionbyAniruddha Rajput 197 Introduction 197 ForeigninvestmentandIndia 199 Legalframeworkforforeigninvestment 203 Protectionunderinternationallaw 210 Protectionundermunicipallaw 213 Recentdevelopments 219 Conclusion 221 9 China–USBITnegotiationandtheemergingChineseBIT 4.0byWenhuaShanandHongruiChen 223 Introduction 223 Thebackground:whyaBIT4.0now? 224 Theissues:whathastobeaddressed? 232 Thefeatures:amodelBITwith“Chinese Characteristics” 247 Conclusion 251 viii contents PART IV 253 10 Regulatingforeigninvestment:MethanexrevisitedbyKyla TienhaaraandToddTucker 255 Introduction 255 Thecase:Methanexv.UnitedStatesofAmerica 259 Academicreactiontothedecision 268 ThelegacyofMethanex 272 BeyondMethanex:treatysafeguards 278 Conclusions 287 11 Thenewfrontier:economicrightsofforeigninvestors versusgovernmentpolicyspaceforeconomicdevelopment byHowardMann 289 Introduction 289 Sustainabledevelopment,economicdevelopmentand incomeequity 292 FDIandeconomicdevelopment:fromassumptionsto policyaction 297 Economicdevelopmentandpolicytools 299 Trackingthedevelopmentofinternationallawinrespectto theeconomicdevelopmenttoolsandeconomicrightsof transboundaryinvestors 301 Mappingthedevelopmenttoolsandthetrends 320 Additionalfactorsininvestmenttreaties 321 Conclusion 322 12 Givingarbitratorscarteblanche–fairandequitable treatmentininvestmenttreatiesbyNathalieBernasconi- Osterwalder 324 Introduction 324 Thefairandequitabletreatmentstandardintreaties,their interpretationandstatereaction 326
The list of books you might like
