The Developing Trend of the World ISDS Mechanism: Echoes from China and the Approaches to Be Adopted
Abstract
Due to the fact that the International Centre for Settlement of Investment Disputes [“ICSID”] has been sharply criticized by its member countries in recent years, the ICSID rules were amended through a process of several rounds. Conventionally, the US has always been the global leader in using the Investor-state dispute settlement [“ISDS”] mechanism since its establishment. Meanwhile, the other two economic giants of the world, China and the European Union [“the EU”], have their own plans. While the EU has advocated establishing an International Investment Court during the negotiation of the Transatlantic Trade and Investment Partnership [“the TTIP”] with the US, China is in the process of constructing the Belt & Road Dispute Settlement Mechanism. If the EU and China succeed, it will lead to a triple-pillared world ISDS in the future. In order to make its ISDS mechanism more competitive, China has taken several substantial steps, including amending its domestic laws and regulations, modernizing its Bilateral Investment Treaties [“BITs”], promulgating new arbitration rules, etc. This article will provide a systemic introduction and analysis of these approaches adopted by China and comment on the way forward.
Recommended Citation
Wei, Xiao
(2019)
"The Developing Trend of the World ISDS Mechanism: Echoes from China and the Approaches to Be Adopted,"
Indian Journal of International Economic Law: Vol. 11, Article 9.
Available at:
https://repository.nls.ac.in/ijiel/vol11/iss1/9