Influence of International Investment Arbitration Under the International Law

Research Article
Open access

Influence of International Investment Arbitration Under the International Law

Xiaorong Lin 1*
  • 1 Law School, Beijing JiaoTong University, Beijing 100044, China    
  • *corresponding author 22121354@bjtu.edu.cn
Published on 21 March 2023 | https://doi.org/10.54254/2754-1169/4/20221066
AEMPS Vol.4
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-17-1
ISBN (Online): 978-1-915371-18-8

Abstract

Not only do MNEs bring construction and opportunities to the host states, but at the same time, unrestricted MNEs often bring shock and damage to the local economy and domestic market of the host states. In order to regulate international investment, there are many international treaties, conventions and laws in the world, which are collectively referred to as International Investment Law. The IIL incorporates international investment activities between the participating countries and their MNEs into a legal and regular framework. In the work of dealing with the relationship between them, a very important thing is to reasonably settle the investment disputes between the two parties. The methods to settle the disputes include litigation and arbitration, but the arbitration has actually become the most important and popular method. International investment arbitration is bringing lots of benefits to both the MNEs and the host states. The method of comparative research is used to illustrate the characteristics and differences between litigation and the arbitration in international investment disputes settlement. The advantages of arbitration are reflected and the reason why arbitration has become the most popular way to settle these disputes is explained. In the explanation in the article, the method of cases analysis is used, and especially in the fifth part, it focuses on the arbitration case of Cairn Energy PLC and Cairn UK Holdings Limited v. India. PCA Case. It supports the conclusion that arbitration has become the most popular method of international investment disputes settlement.

Keywords:

International Investment Law, international investment arbitration., Multinational Enterprise, international investment dispute

Lin,X. (2023). Influence of International Investment Arbitration Under the International Law. Advances in Economics, Management and Political Sciences,4,243-252.
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References

[1]. G. Behrman, The most noble adventure: the Marshall Plan and how America helped rebuild Europe, Free Press, 2008.

[2]. D. F. Vacts, Host country faces the multinational enterprise, Boston University Law Review, vol. 53, no. 2, 1973, pp. 261-277.

[3]. H. V. Perlmutter, Perplexing Routes to M.N.E Legitimacy: Codes of Conduct for Technology Transfer, Stanford Journal of International Studies, vol. 11, 1976, pp. 169-199.

[4]. C. Wang, Employment Research in the Process of Economic Globalization, Economic Science Press, 2007.

[5]. Z. Kong, The key to developing export trade lies in the continuous upgrading of products, International Business Research, vol. 1, no. 2, 1986, pp. 18-19.

[6]. E. Mitchell, Reciprocal convergences: how china might influence western corporate governance, Business & Finance Law Review, vol. 2, no. 1, 2018, pp. 77-139.

[7]. J. J. Norton, Multinational companies: of institutional 'spheres of influence', corporate social responsibility and meaningful financial sector law reform for developing countries, European Business Law Review, vol. 20, no. 1, 2009, pp. 1-62.

[8]. R. Clara, S. Christoph, Human Rights and International Investment Arbitration, Oxford University Press, 2009. DOI: 10.1093/acprof:oso/9780199578184.003.0004

[9]. Y. Levashova, The Accountability and Corporate Social Responsibility of Multinational Corporations for Transgressions in Host States through International Investment Law, Utrecht Law Review, vol. 14, no. 2, 2018, pp. 40-55. DOI: 10.18352/ulr.441

[10]. C. F. Salans, The 1985 rules of the London court of international arbitration, Arbitration International, vol. 2, no. 1, 1986, pp. 40-56.

[11]. X. Shi, The Relativity of the Finality of the First Arbitration in International Commercial Arbitration, Journal of Chang'an University: Social Science Edition, vol. 11(4), no. 7, 2009. DOI: 10.3969/j.issn.1671-6248.2009.04.012

[12]. C. A. Rogers, The politics of international investment arbitrators, Santa Clara Journal of International Law, vol. 12, no. 1, 2013, pp. 223-262.

[13]. Z. Zhou, The Advantages of Commercial Arbitration over Litigation, Its Development Trend and Suggestions, Legal System and Economics, vol. 6, 2020, pp. 62-63.

[14]. United nations commission on international trade law. (n.d.). Status: Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) (the “New York Convention”). United Nations Commission On International Trade Law. https://uncitral.un.org/en/texts/arbitration/conventions/foreign_arbitral_awards/status2

[15]. L. Zheng, Y. Chen, Approaches to investment arbitration in international tax disputes and its enlightenment to tax arbitration: Analysis of the British Cairn Company v. India, Journal of International Economic Law, vol. 3, 2022, pp. 126-140.

[16]. G. Caspary, S. Berghaus, The charging nature of foreign direct investment in developing countries: evidence and implications, Journal of World Investment & Trade, vol. 5, no. 4, 2004, pp. 683-706.


Cite this article

Lin,X. (2023). Influence of International Investment Arbitration Under the International Law. Advances in Economics, Management and Political Sciences,4,243-252.

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About volume

Volume title: Proceedings of the 6th International Conference on Economic Management and Green Development (ICEMGD 2022), Part Ⅱ

ISBN:978-1-915371-17-1(Print) / 978-1-915371-18-8(Online)
Editor:Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://www.icemgd.org/
Conference date: 6 August 2022
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.4
ISSN:2754-1169(Print) / 2754-1177(Online)

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References

[1]. G. Behrman, The most noble adventure: the Marshall Plan and how America helped rebuild Europe, Free Press, 2008.

[2]. D. F. Vacts, Host country faces the multinational enterprise, Boston University Law Review, vol. 53, no. 2, 1973, pp. 261-277.

[3]. H. V. Perlmutter, Perplexing Routes to M.N.E Legitimacy: Codes of Conduct for Technology Transfer, Stanford Journal of International Studies, vol. 11, 1976, pp. 169-199.

[4]. C. Wang, Employment Research in the Process of Economic Globalization, Economic Science Press, 2007.

[5]. Z. Kong, The key to developing export trade lies in the continuous upgrading of products, International Business Research, vol. 1, no. 2, 1986, pp. 18-19.

[6]. E. Mitchell, Reciprocal convergences: how china might influence western corporate governance, Business & Finance Law Review, vol. 2, no. 1, 2018, pp. 77-139.

[7]. J. J. Norton, Multinational companies: of institutional 'spheres of influence', corporate social responsibility and meaningful financial sector law reform for developing countries, European Business Law Review, vol. 20, no. 1, 2009, pp. 1-62.

[8]. R. Clara, S. Christoph, Human Rights and International Investment Arbitration, Oxford University Press, 2009. DOI: 10.1093/acprof:oso/9780199578184.003.0004

[9]. Y. Levashova, The Accountability and Corporate Social Responsibility of Multinational Corporations for Transgressions in Host States through International Investment Law, Utrecht Law Review, vol. 14, no. 2, 2018, pp. 40-55. DOI: 10.18352/ulr.441

[10]. C. F. Salans, The 1985 rules of the London court of international arbitration, Arbitration International, vol. 2, no. 1, 1986, pp. 40-56.

[11]. X. Shi, The Relativity of the Finality of the First Arbitration in International Commercial Arbitration, Journal of Chang'an University: Social Science Edition, vol. 11(4), no. 7, 2009. DOI: 10.3969/j.issn.1671-6248.2009.04.012

[12]. C. A. Rogers, The politics of international investment arbitrators, Santa Clara Journal of International Law, vol. 12, no. 1, 2013, pp. 223-262.

[13]. Z. Zhou, The Advantages of Commercial Arbitration over Litigation, Its Development Trend and Suggestions, Legal System and Economics, vol. 6, 2020, pp. 62-63.

[14]. United nations commission on international trade law. (n.d.). Status: Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958) (the “New York Convention”). United Nations Commission On International Trade Law. https://uncitral.un.org/en/texts/arbitration/conventions/foreign_arbitral_awards/status2

[15]. L. Zheng, Y. Chen, Approaches to investment arbitration in international tax disputes and its enlightenment to tax arbitration: Analysis of the British Cairn Company v. India, Journal of International Economic Law, vol. 3, 2022, pp. 126-140.

[16]. G. Caspary, S. Berghaus, The charging nature of foreign direct investment in developing countries: evidence and implications, Journal of World Investment & Trade, vol. 5, no. 4, 2004, pp. 683-706.