The Reform Of ICSID And Developing Countries

International investment arbitration has been flourished in the last decade; ICSID obviously played an important role in this area. In the meanwhile, international investment dispute settlement mechanism and international investment agreements have emerged a tendency of pluralism and complication, and a series of problems have appeared. ICSID and other international investment dispute settlement mechanisms have to face new challenges and opportunities. Some countries and organizations have commenced the reform process. Given the more and more important roles international direct investment and international investment arbitrations have played in developing countries, studying on those reforms and their relationship with developing countries is very necessary. Take ICSID as an example, this thesis has conducted a preliminary analysis on the relationship between developing countries and the reform of international investment dispute settlement mechanism, and presented some personal opinions.This thesis consists of three chapters in addition to introduction and conclusion.Chapter One mainly explains the necessity of ICSID's reform, which includes a brief summary of the trends of recent international direct investment, international investment agreements and international investment arbitrations, figures out that it is these trends that promote ICSID and it's rise, but also make new challenges and opportunities for ICSID. After analyzing the common problems and special challenges ICSID has to face, concludes that it is very necessary for ICSID to reform its mechanism.Chapter Two categorizes and makes detailed analysis on ICSID's recent reforms, and also pays some reflections on it. This thesis details the recent reforms into two categories, policy changes and rules' amendments, and summarizes these two kinds of reforms respectively. The main parts of the recent reforms are amendments of rules. Based on the analysis of the contents of ICSID's recent reforms, it was found that the recent reforms are deeply influenced by developed countries' practices and theories; developing countries' role is very insufficient.Chapter Three expounds the relationship between developing countries and ICSID's reform from two different angles, treaty theory and empirical study, proves that developing countries have great interests in ICSID's reform. But in reality, the role developing countries have played in the reform and the influences international investment dispute settlement mechanism have put on developing countries is asymmetry. Lastly, this thesis presents some opinions on developing countries' active participation in ICSID's and other international investment dispute settlement mechanisms' reform.