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1 - Introduction

International Economic Dispute Settlement – Demise or Transformation?

Published online by Cambridge University Press:  07 August 2021

Manfred Elsig
Affiliation:
Universität Bern, Switzerland
Rodrigo Polanco
Affiliation:
Universität Bern, Switzerland
Peter van den Bossche
Affiliation:
Universität Bern, Switzerland
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Summary

Over the past thirty years, international trade has grown constantly and since 2008 it has increased by 26 per cent (World Trade Organization 2019). In the same period, foreign direct investment (FDI) grew more than 20 per cent before 2000, 8 per cent in 2000–7, and has shown slow growth since 2008, averaging about 1 per cent growth per year for a decade (UNCTAD 2019b, xi). We have also observed (but lack systematic data) a spectacular growth of trade in parts and components and a substantial increase of trade in services, reflecting companies’ investment and sourcing decisions, increasing the web of global and regional supply chains. The “death of distance” through lower transport costs and advancements in information technology has contributed to accelerating these developments. Integration into the world economy has also become an important element of foreign aid policy. All of these economic and political processes have been underpinned since the end of the Cold War by a liberal consensus.

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Chapter
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International Economic Dispute Settlement
Demise or Transformation?
, pp. 1 - 14
Publisher: Cambridge University Press
Print publication year: 2021

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