Study On The Expansion Of ICSID Jurisdiction

At the end of the Second World War,the whole world needed to promote the development of policies to speed up the development of the international society,especially in the developing countries that are not so developed in the third world.With the political independence gained by the third world countries from colonial rulers including Britain,France,Belgium,Portugal and Spain,the international development of these countries had become a top priority.The Washington convention was established by the world bank in 1965 and established the international center for the settlement of investment disputes in accordance with the convention,known as ICSID.The Washington Convention is a multilateral treaty that provides for the settlement of investment disputes through arbitration.In accordance with the provisions of the Washington Convention,ICSID has established a mediation and arbitration agency for investment disputes between the host country and the nationals of the other states.By ratification of the Washington Convention,the States parties agreed to implement the protection of foreign investment in exchange for private international investment and the development of the host country's economy.ICSID has a group of mediators and arbitrators who can be selected to arbitrate the investment treaties between the state party and the investors of other states.Article 25 of the Washington convention concerns the establishment of jurisdiction.In accordance with Article 25,Clause 1 of the Washington Convention,in accordance with the consent and agreement of the state and the investors of other countries,the special court established by the central rules may exercise jurisdiction over the investment request.The ICSID rules,including the arbitration procedure and the arbitration rules,are not the only way to solve the investment disputes through arbitration.There are other internationally recognized rules of arbitration that can be used for investment arbitration,such as UNCITRAL,SCC,ICC.However,most of the international investment agreements have chosen ICSID.In recent years,ICSID has been showing a trend of expanding its jurisdiction,causing the suspicion of the host country or other investors about ICSID's justness and fairness.Because the Washington Convention does not have a very clear definition of the meaning of some key words,causing the ICSID arbitral tribunal to have a relatively large discretionary power to a certain extent and causing the arbitration tribunal has achieved the purpose of expanding its jurisdiction by expanding the interpretation of the subject,the appropriate dispute and the way of consent.In 1990,China signed the Washington Convention,which formally entered into force in the following year.Now,China is gradually turning from a capital importing country to a dual power of capital input and capital output.Especially now,"The Belt and Road" project is carried out wildly,investment disputes will inevitably occur.If a dispute is given to an institution with a question of impartiality,the country will undoubtedly take a great risk to its own interests.The first chapter of this article is mainly to analyze the meaning of the jurisdiction of the ICSID arbitration tribunal,the standard and process of its establishment.The second chapter selects typical cases to analyze the ways of ICSID arbitral tribunal to expand its jurisdiction and its adverse effects.The third chapter explores the possible measures to restrict the ICSID arbitral tribunal to expand its jurisdiction.Finally,the fourth chapter explores the measures of China to against the ICSID arbitration tribunal under the trend of expanding jurisdiction.