Research On The Legal Issues Of Balance Of Interests Between Investors And Host Countries In Bilateral Investment Treaties

With the rapid development of economic integration in the world,investment links between countries have become increasingly close.Under the influence of investment liberalization,countries actively participate in international investment in pursuit of specific interests.The quantity and quality of international investment treaties,especially bilateral investment treaties,have shown a rapid development.However,due to the wide gap in economic strength between international entities at that time,and the popularity of the concept of supremacy of private rights,the bilateral investment treaties were basically formulated by the capital exporting countries,that is,the home countries of investors,which mainly reflected the will of the capital exporting countries.In order to attract foreign capital and developed technology,the capital importing country,that is,the host country,often accepts the requirements of investors,provides a high level of investment treatment,and even gives up some national rights,which causes great damage to the national public interest and government regulation rights.With the deepening of the contradiction between the investor and the host country,the imbalance of the interests between the two is increasing,and the disputes submitted to the international investment arbitration tribunal are also increasing.The arbitral tribunal tends to protect the interests of investors and ignore the public interests of the host country,which leads to the trust crisis of the international community in the arbitration mechanism.With the concept of sustainable development and the principle of interest balance,and with the international investment entering the transition period,it has become the consensus of the international community to build a sustainable international investment system and pursue the interest balance between investors and host countries.Based on the study of the legal issues related to investors and host countries in the bilateral investment treaties,this paper points out the specific embodiment of the current imbalance of interests in the field of international investment,and puts forward legal suggestions to balance the interests of investors and host countries incombination with international theory and practical experience.The core content includes three parts:The first part explains the background of balancing the interests of investors and host countries,analyzes the necessity and possibility,and highlights the urgency and feasibility of balancing the interests of investors and host countries.The necessity analysis mainly explains from two aspects: the principle of sustainable development and the theory of state regulatory power.The interest balance is the internal requirement of the concept of sustainable development.The development limitation of state regulatory power forces a country to pursue the interest balance.The possibility analysis is mainly elaborated from two aspects: first,the identity of investors' home country and host country is mixed,which makes countries start to weigh the interests from different perspectives.Secondly,the practice of international law on the protection of public interest is gradually increasing,which provides feasible conditions for the balanced development of interests.The second part discusses the embodiment of the imbalance between investors' interests and national public interests in bilateral investment agreements.By analyzing the shortcomings of investment treatment clause,general exception clause and international investment arbitration procedure,this paper explains the phenomenon of over protection of investors' interests in the field of international investment and its adverse consequences.The premise to solve the problem is to analyze the problem,and to analyze the performance of the imbalance of interests is to put forward legal suggestions for the next step.The third part discusses the legal suggestions to balance the interests of investors and host countries in bilateral investment agreements.This part puts forward corresponding legal suggestions for the second part.In order to achieve the real balance of interests between investors and host countries,we should make clear the specific meaning and applicable conditions of the core substantive investment treatment clause,perfect the relevant provisions of the general exception clause in detail,and improve the shortcomings of the international investment arbitration procedure.