The Imbalance Of Public Interest In International Investment Arbitration And Related Response Strategies

The system of international investment arbitration between investor-host countries derives from the system of international commercial arbitration,which deals with the settlement of disputes between private individuals,therefore,many international scholars believe that the International Investment Arbitration Tribunal is more inclined to protect the interests of private investors in the disputes between investors and states.However,international investment disputes are usually caused by the dissatisfaction of private investors caused by the host country’s policies and regulations for the purpose of protecting the public interest,it has great influence on the protection of a country’s public interest,the development of international economy and the credibility of international investment law.Our country is not only a big country of capital import but also a big country of capital export,so strengthening the protection of our country’s public interest in international investment is of vital importance to the overall situation,in this paper,the characteristics of public interest issues in international investment arbitration are studied and the countermeasures are put forward.This paper is divided into five parts:Section Ⅰ put forward the problem of public interest imbalance,and put forward research ideas and methods.The second section,the author summarizes the concept of international investment arbitration and the connotation of public interest in international investment arbitration,and points out that because of the uncertainty of the concept of public interest,through the embodiment of the term“Public interest” in some existing treaties,this paper puts forward the subject and standard for the determination of public interest,and briefly analyzes the reasons for the imbalance of public interest in international investment arbitration,it also analyzes the impact of public interest imbalance on the sustainable development of global investment,the sustainable development of the host country’s social economy,and the authority of the state in the supervision of its own public affairs.The second part,Based on the environment of international investment arbitration system,this paper analyzes the rules of jurisdiction expansion,arbitration system and low transparency in international investment arbitration.The third section through the analysis of the international investment arbitration system preferences and rights allocation of one-way bias investors caused public interest imbalance,the expansion of jurisdiction,exercise of discretion and low transparency in international investment arbitration further deepen the imbalance of public interests,and the expansion of jurisdiction and the exercise of discretion in the exercise of these regulations through the expansion of substantive measures such as the Most favoured nation clause,the umbrella clause,and the fair and equitable treatment clause,analysis of the reasons for the imbalance of public interest in investment arbitration.The forth section,taking this round of ICSID reform as the entry point,analyzing the public interest protection of the reform of international investment arbitration mechanism and the establishment of entity clauses in recent years,this paper points out the measures for the public interest protection rebalancing of international investment arbitration.The last section according to the current situation of BITS signed by China,the paper puts forward our countermeasures in the process of signing BITS.To address the issue of the extension of arbitration jurisdiction by improving the acceptance of ICSID jurisdiction provisions,investment definition provisions,Most favoured nation and other closely related provisions,and to address the issue of excessive arbitration discretion,we should improve the provisions of the Preamble,fair and equitable treatment,and exception clauses of major security interests in BITS,And make suggestions to Chinese investors.