The Impact Of ISDS On SRS

Among the more than 3,000 investment agreements in the world,a large number of investment agreements have been revised.There are many situations in which the old agreement was invoked by the international investment arbitration.After the arbitration tribunal made a ruling,the old agreement was revised to reach a new investment agreement.In such a situation,the revision of the agreement often details the points of dispute in the arbitration award,which to a certain extent reflects the influence of the Investor-State Dispute Settlement(ISDS mechanism)on the revision of the treaty.The revision of the treaty will more or less affect the investment management and regulatory space(State Regulatory Space,SRS)of the contracting states in their country.It can be seen that the ISDS mechanism directly or indirectly regulates the state regulatory space of the contracting states to a certain extent.The full text of this article is divided into five parts: The first part is the introduction,which mainly introduces the proposal of this article,the research value of this article,literature review,research methods,thesis structure,innovation and deficiencies of the thesis,etc.The second part is an overview of ISDS and SRS,which mainly introduces the concepts of ISDS and SRS,the status of investment treaty revisions after ISDS,the cases studied in this article,and the establishment of a model of the relationship between ISDS mechanism and SRS.The third part sorts out the disputes in the ISDS process from the perspectives of fair and equitable treatment,comprehensive protection guarantees,jurisdiction,expropriation,and most favored nation treatment,as well as the later revisions of the contracting states on the focus of this dispute in the treaty.In the fourth part,from the perspectives of fair and equitable treatment,comprehensive protection,jurisdiction,expropriation,most favored nation treatment,etc.,it sorts out the impact of the amendment of the treaty on the state regulatory space,and evaluates it through the evaluation method.The fifth part inherits the evaluation structure of the fourth part of the evaluation method,and uses the evaluation results to analyze the changes in the national regulatory space,the ISDS mechanism and the SRS correlation,and then draw conclusions.The conclusions drawn from the subsequent analysis provide certain suggestions and references for the international community to revise the treaty in the future.The conclusions of this paper are mainly reflected in the following points:As mentioned in the above table,the revision of the treaty after the ISDS mechanism mainly reflects the following points:First,the revision of substantive clauses focuses on increasing the state regulatory space,while the revision of procedural clauses mainly focuses on improving the convenience of arbitration,thereby indirectly reducing the state regulatory space.Among the disputes in the above amendments,5 disputes are amendments to substantive clauses,and 4 disputes are amendments to procedural clauses.To a certain extent,it shows that after ISDS,the treaty revision does not have the phenomenon of emphasizing procedural clauses and ignoring substantive clauses,and there is no phenomenon of emphasizing substantive clauses and ignoring procedural clauses.The revisions of the two perspectives are generally the same.Secondly,among the above nine disputes,the total value of the revised assignments for increasing the state regulatory space is +3,and there are 3 disputes that maintain the state regulatory space unchanged,and the total assignment is 0,which reduces the disputes concerning the state regulatory space.The sum of revision assignments is-3,and the sum of absolute values of treaty revision assignments is 0.That is to say,in general,after ISDS,the country has added more state regulatory space in the revision of substantive clauses in the process of amending the treaty,but from the point of view of procedural clauses,it has added more convenience for investors to initiate arbitration.Thirdly,among the above nine dispute points,in the revision process after the ISDS mechanism,six dispute points caused treaty revisions that caused changes in state regulatory space,and three dispute points caused treaty amendments that did not create state regulatory space change.From this partial summary,it can be seen that after the ISDS mechanism,about two-thirds of the disputes have affected the state regulatory space,and it can also be seen that the disputes in the ISDS process do not necessarily affect the state regulatory space.