International Investment Law as Transnational Law

Abstract

This chapter examines the international investment regime through the lens of transnational law. It argues that this regime would not exist—or at least not in its current form—if it was not for the transnational ambition of some bankers, lawyers, and academics who dreamed of moving foreign investment relations beyond the traditional categories of public and private law and international and domestic law. The current normal in international investment law started with audacious treaty models, writings and awards. This chapter contrasts this approach with the important academic debates about this field, which have paradoxically focused on whether international investment law is public or private law or if international or domestic law should control foreign investment relations. To conclude, the chapter looks at the situation of local nonstate actors in foreign investor relations, examining whether they could also rely on audacious transnational legal thinking to protect their interests.