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Reforming The International Investment Regime: Lessons From International Trade Law, Frank Garcia, Lindita Ciko, Apurv Gaurav
Reforming The International Investment Regime: Lessons From International Trade Law, Frank Garcia, Lindita Ciko, Apurv Gaurav
Frank J. Garcia
International trade law underwent a profound paradigm shift during the 1990’s and into the 21st century as a response to globalization, and to a legitimacy crisis sparked by unresolved structural issues from the General Agreement on Tariffs and Trade (GATT) era and tensions surfacing in GATT case law around ‘trade and’ issues. Investment law today is undergoing a similar legitimacy crisis for similar reasons, particularly with respect to Bilateral Investment Treaties and investor–State arbitration. We argue that investment law is ripe for a similar paradigm shift, away from the dominant view of investment law as a private ordering system to …