The International Law on Foreign Investment - Grand Format

The international law on foreign investment has become an arena of deep contest between different interests. While investment protection remains the main interest, inflexible investment protection through compliance mechanisms like arbitration have met with considerable opposition. Such opposition was once confined to the developing nations. But with the rise of states like China and India and other smaller states with a capacity to invest overseas, developed states are seeking changes to the system they once created.
New actors such as environmental and human rights lobbies also seek changes to the fragmented international law that hitherto has emphasised investment protection over other interests. Populism resents investment protection, due to the belief that it sends capital and with it jobs overseas. Climate change demands that restrictions are placed on the liberal regimes that see unrestricted flows of foreign investment.
The solar energy cases against Spain and the possibility of claims following the Covid 19 pandemic have made the subject of great concern to governments and the public. A subject of low visibility is now moving to the centre stage. The fifth edition of this book comes at a crucial time in the life of the subject. It analyses the changes that have and are taking place. This edition considers the new defences to liability, the changes in the balance between investment protection and the regulatory power of the state, the criticisms that have been made of the system and the responses to these criticisms.
By offering thought-provoking analysis of the law in historical, political and economic contexts, this fully updated edition of Sornarajah's classic text captures leading trends and charts the possible course of future developments.