Solutions from BITS, RTAs and MIAs for the Current Issues Involving in the International Investment Law

Abstract

With the advancement of globalization, the current international investment legal system has gradually encountered problems such as lack of transparency, lack of consistency, excessive protection of investors, difficulty for policy makers in transforming into domestic legislation, unfairness to developing countries. Solving the above problems will contribute to the further development of economic globalization to some extent. In this regard, this paper analyzes the problems faced by the current international investment legal system. This work first starts from the existing regional investment agreements to find out whether it is possible and to what extent those agreements can solve the above problems. Then, this paper analyzes whether this scheme is valuable based on the multilateral investment treaties that have appeared in the past years but eventually failed. Finally, it puts forward the solution of introducing a new system combining regional and multilateral investment treaties.