This chapter assesses whether BITs have achieved their objectives. The first part of the chapter examines the historical movement to form BITs. The second part explores the goals motivating BITs, namely foreign investment protection, market liberalization, and foreign investment promotion. The next three parts assess the success of BITs in achieving each of these goals. The chapter concludes by considering the implications of the BIT movement for the further development of international investment law.
A survey of 310 persons of different nationalities and occupations asked respondents to rate their negotiating styles with respect to ten factors involved in the negotiation process. These factors included a preference for: a written contract in contrast to relationship‐building as a negotiating goal; an integrative (win‐win) as opposed to a distributive (win‐lose) bargaining approach; and high rather than low tolerance for risk‐taking. Reporting on the responses of persons from 12 countries and eight different occupations, this study finds that, in many instances, persons from the same cultures and occupations tended to respond to these negotiating elements in a similar fashion. Survey responses were also examined with respect to the respondents’ gender. The studty would appear to support the proposition that culture, occupational background, and gender can influence negoating style.
The author has taught international business negotiation in a wide variety of university courses and executive training programs throughout the world during the last three decades. He has taught international business negotiation both as an end in itself and as a means to teach law, an approach that he calls "the law in the shadow of negotiation." This article examines three fundamental dimensions of that experience: pedagogical goals, course content and teaching methods. His principal pedagogical goals in international business negotiation courses have been three-fold: better negotiation analysis, improved negotiation skills, and increased international business knowledge. Depending on the time available, the content of his international business negotiation courses covers three broad areas: the fundamentals of conflict analysis and the negotiation process, basic themes in international negotiation, such as the importance of negotiation, preparation and the management of internal negotiations, and the special obstacles faced in international business negotiation, such as cultural differences among the parties, the actual or potential role of governments in the negotiation process, and challenges to the stability of negotiated agreements. The author's teaching relies heavily on experiential methods and materials, such as exercises, simulations and cases, although more didactic methods also have a role.
Renegotiation of existing agreements is constant in all areas of life. In this article, the author examines the nature and causes of renegotiation and offers guidance to persons involved in the renegotiation process. He identifies three distinct types of renegotiations – post‐deal, intra‐deal, and extra‐deal renegotiation. Each of the three types poses particular problems and opportunities and each requires different techniques to deal with those problems and opportunities.
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