Asia’s Changing International Investment Regime: Sustainability, Regionalization, and Arbitration

Description

This book focuses on the Asia-Pacific region, delineating the evolving dynamics of foreign investment in the region. It examines the relationship between efforts to increase foreign direct investment (FDI) and efforts to improve governance and inclusive growth and development. Against a background of rapidly developing international investment law, it emphasises the need to strike a balance between these domestic and international legal frameworks, seeking to promote both foreign investment and the laws and policies necessary to regulate investments and investor conduct. Foreign investments play a pivotal role in most countries’ political economies, and in order to encourage cross-border capital flows, countries have taken various steps, such as revising their domestic legal frameworks, liberalising rules on inward and outward investment, and creating special regimes that provide incentives and protections for foreign investment. Alongside the developments in domestic laws, countries have also taken bilateral and multilateral action, including entering into trade and/or investment agreements. Further, the book explores regional investment trends, highlights specific features of Asia-Pacific investment laws and treaties, and analyses policy implications. It addresses four overarching themes: the trends (how Asia-Pacific’s agreements compare with recent global trends in the evolving rules on foreign investment); what China is doing; current investment arbitration practice in Asia; and the importance of regionalising investment law in the Asia-Pacific region. In addition, it identifies and discusses the research and policy gaps that should be filled in order to promote more sustainable and responsible investment. The book offers a valuable resource not only for academics and students, but also for trade and investment officials, policy-makers, diplomats, economists, lawyers, think tanks, and business leaders interested in the governance and regulation of foreign investment, economic policy reforms, and the development of new types of investment agreements. Front Matter ....Pages i-xii Introduction (Julien Chaisse, Tomoko Ishikawa, Sufian Jusoh)....Pages 1-10 Front Matter ....Pages 11-11 The Changing Patterns of Investment Rule-Making Issues and Actors (Julien Chaisse, Tomoko Ishikawa, Sufian Jusoh)....Pages 13-23 Shaping Globalization: Recent Trends in Asia-Pacific Foreign Direct Investment (Bekzod Abdullaev, Douglas H. Brooks)....Pages 25-40 Reforming the International Investment Regime: Two Challenges (Karl P. Sauvant)....Pages 41-46 Investment Protection and Host State’s Right to Regulate in the Indian Model Bilateral Investment Treaty: Lessons for Asian Countries (Prabhash Ranjan)....Pages 47-65 China’s Regulation of Foreign Direct Investment (Leon E. Trakman)....Pages 67-95 Front Matter ....Pages 97-97 Ten as One? Explaining ASEAN Regulation on Foreign Investment (Sufian Jusoh, Julien Chaisse)....Pages 99-120 China-Japan-Korea Trilateral Investment Treaty: Implications for Future Investment Negotiations in Asia (Shintaro Hamanaka)....Pages 121-139 A Baseline Study for RCEP’s Investment Chapter: Picking the Right Protection Standards (Junianto James Losari)....Pages 141-162 ‘One Belt, One Road’: China’s New Strategy and Its Impact on FDI (Jun He)....Pages 163-175 The Role of Pacific Rim FTAs in the Harmonization of International Investment Law: Towards a Free Trade Area of the Asia-Pacific (Mark Feldman, Rodrigo Monardes Vignolo, Cristian Rodriguez Chiffelle)....Pages 177-205 Front Matter ....Pages 207-207 The Future of Investor-State Arbitration: Revising the Rules? (Rahul Donde, Julien Chaisse)....Pages 209-227 Investor-State Dispute Settlement (ISDS) Cases in the Asia-Pacific Region—The Record (Martina Francesca Ferracane)....Pages 229-242 Breaking the Market Dominance of ICSID? An Assessment of the Likelihood of Institutional Competition, Especially from Asia, in the Near Future (Andrea K. Bjorklund, Bryan H. Druzin)....Pages 243-260