The international investment rules have come to a crossroads.In terms of both multilateral reform and national exploration,the reforms of international investment rules have been diversified without a dominant vision.Meanwhile,geopolitical competition among major powers have gradually filtered into the process of international investment lawmaking and adjudication.The traditional debates on international investment rules have been further evolved with more guidances of contracting states on transnational investments and more emphases on responsible investments;the regionalization of international investment rules has been accelerated and new contexts for economic sanction and investment expulsion have been sparked off.The future development of international investment rules will see the emergence of competition between balanced liberalism and geo-legalism,and rules swing between multilateralism and unilateralism,between depoliticization and overpoliticization,between certainty and flexibility,and between centralization and decentralization.In the foreseeable future,the trend of"investment plus"of international investment rules will continue and new rules will continually emerge with diversified forms.In relevant international agreements,China adopts a gradual and inclusive model combining dialogue and arbitration,representing the shift of international investment rules from an adjudicative mode to a consultative mode that offers a new paradigm of investment rules for both emerging and developed economies.
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