Skip to main content Accessibility help
×
Hostname: page-component-848d4c4894-tn8tq Total loading time: 0 Render date: 2024-06-23T16:22:13.344Z Has data issue: false hasContentIssue false

13 - The Future for International Investment Arbitration

from Part III - Investor-State Arbitration

Published online by Cambridge University Press:  08 October 2021

C. L. Lim
Affiliation:
The Chinese University of Hong Kong
Get access

Summary

The architecture of the world order that was constructed from the ruins of the World War II has preserved a precarious peace, while allowing historically unprecedented economic growth. In his Nobel Peace Prize speech, Barack Obama warned that “[a] decade into a new century, this old architecture is buckling under the weight of new threats.” It is dispiriting to reflect on how prescient Obama’s words, delivered in 2009, were. Even allowing for the fact that at any moment there will be contrary trends toward and away from goals, key pillars of that world order do seem wobbly and in danger of buckling. Consider just two foundational arrangements. First, the prohibition of conquest and acquisition of territory by force continues to be flouted in an increasing number of cases – Crimea, Nagorno Karabakh, Abkhazia, South Ossetia, Abyei, the West Bank, East Jerusalem, the Golan Heights, Western Sahara, South China Sea, Tibet, the list goes on. Second, judgments of the International Court of Justice are effectively ignored, not by States ordinarily thought to be international renegades but also by sister judiciaries with long-standing claims to championing the rule of law: the US Supreme Court and the Italian Constitutional Court.

Type
Chapter
Information
Publisher: Cambridge University Press
Print publication year: 2021

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×