Abstract
The dynamics of the international investment framework and the challenging question of the Bilateral Investment Treaty (BIT) regime can be explained in the context of a theory of power. The historical facts resulted in an apparent paradox, but this theory of power explains why developing countries have agreed to the framework. Furthermore, it gives alternative answers to understanding why the multilateral attempts to establish the framework failed, why the developing countries are reacting against the BIT regime and why the rules of the framework are once again changing. An awareness of these considerations and the role of power in the framework should be a tool used when negotiating new rules on foreign investments. With it, rules that would benefit all stakeholders can be achieved.
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Joint statement of the Office of the US Trade Representative and US Department of State. 2013. http://www.ustr.gov/about-us/press-office/press-releases/2012/april/united-states-concludes-review-model-bilateral-inves. Accessed Nov 2013.
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Gwynn, M.A. (2016). Conclusion. In: Power in the International Investment Framework. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-57143-4_8
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DOI: https://doi.org/10.1057/978-1-137-57143-4_8
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Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-137-57142-7
Online ISBN: 978-1-137-57143-4
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