What Do Developing Countries Expect from the International Investment Regime?
This chapter argues that in a “globalized” international economy and in a generally increasingly interdependent world, it is in the best interest of developing countries to have a rule-oriented international investment regime for two primary reasons. First, the more effective a rule-oriented international investment regime is, the less leeway exists for politics and power to influence international investment relations. Second, a more rule-oriented international investment regime also leads to greater discipline in the application of the principle of the rule of law at the domestic level. The chapter concludes that unless a set of complementary policy measures are devised and implemented, there is an imminent risk that developing countries will face mounting pressures generated by the operation of the international investment regime. If developing countries lack the ability to respond to such pressures effectively, there is a risk that certain governments and civil societies will retaliate against the international investment regime.
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