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7 - Multilateral Reform of Investor–State Dispute Resolution Mechanism

A Balance between Public Legitimacy Management and Private Efficiency Refinement

from Part III - China, BRI and Investment Dispute Resolution

Published online by Cambridge University Press:  03 March 2021

By
Peng Wang
Edited by
Wenhua Shan ,
Sheng Zhang  and
Jinyuan Su
Wenhua Shan
Affiliation:
Xian Jiaotong University, China
Sheng Zhang
Affiliation:
Xian Jiaotong University, China
Jinyuan Su
Affiliation:
Wuhan University School of Law
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Summary

It looks at the reform of investor–state dispute settlement from the perspective of fast resolution, party autonomy and cost management. It proposes a Chinese perspective on Multilateral Investment Dispute Resolution (MIDR) system of balance between public legitimacy management and private efficiency refinement. The institutional structure of MIDR should be of internal balance, moderating three tensions between state and arbitrator, between investor and host state, and between state and arbitral tribunal during ex ante and ex post process of dispute resolution. The process of establishment of MIDR should be of external balance, moderating tensions between procedure and substance of MIDR, between MIDR and existing institutions, and between legal rights of MIDR stakeholders and political will of leading states.

Keywords

Multilateral investment dispute resolutionpublic legitimacy managementprivate efficiency refinement. public–private debateconsistency
Type
Chapter
Information
China and International Dispute Resolution in the Context of the ‘Belt and Road Initiative’ , pp. 149 - 184
Publisher: Cambridge University Press
Print publication year: 2021

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