What Can We Learn from Our Struggling Cousin? - Recent Discussions on Reform of International Investment Law and Investment Dispute Settlement Proceedings

Abstract

The global trading regime is now facing a perilous situation, to say the least. Sadly, multilateralism has been gradually losing its stature and authority, and protectionism of various sorts has been on the rise. Indeed, the year 2018 made us realize the aggravating situation and the resulting negative consequences for all of us. And yet, neither a breakthrough nor a grand settlement is in sight. The recent discussion in the investment law and arbitration reform provides an important food for thought concerning the current situation of the international trade regime. It provides a rough silhouette that we will see in the near future unless the current tide is turned. It is unfortunate that we are losing the leadership and sense of togetherness to turn the tide.