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The Convergence of Renewed Nationalization, Rising Commodities, and "Americanization" in International Arbitration and the Need for More Rigorous Legal and Procedural Defenses
- Article from:
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Texas International Law Journal
- Article date:
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July 1, 2008
- Author:
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;
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Copyright informationCopyright University of Texas, Austin, School of Law Publications, Inc. Summer 2008. Provided by ProQuest LLC. (Hide copyright information)
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I. INTRODUCTION
By the end of the 20th century, international arbitration had emerged as the preeminent mechanism to resolve international commercial disputes, particularly disputes between foreign investors and sovereign nations. Indeed, in the 1990s, globalization grew exponentially with
previously-closed markets-such as Latin America-opening to foreign investors for the first time in decades. Accompanied with this globalization was often the acceptance of international arbitration, as exemplified by its inclusion in dozens of bilateral investment treaties ("BITs") and regional trade pacts, such as the North American Free Trade Agreement ("NAFTA").
However, over the past decade new trends ...
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