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Professor Mark Feldman’s New Essay on Investment Arbitration in Beijing is Published in Columbia FDI Perspectives

Professor Mark Feldman wrote an essayAn Opportunity to Reimagine Investment Arbitration in Beijing, which was published as No. 353 issue of Columbia FDI Perspectives.

Professor Feldman points out that some arbitration institutions in China have attempted to cover international investment arbitration in recent years through development of rules, arbitrator’s focusing on investment arbitration, and cooperation with relevant institutions. Additionally, it is estimated that two Beijing-based Chinese arbitration institutions, the Asian Infrastructure Investment Bank (AIIB) and the International Commercial Dispute Prevention and Settlement Organization (ICDPASO), have the potential to further this expansion.

Specifically, the AIIB has in itsYearbook of International Lawconsidered “whether the AIIB was ‘well placed’ to serve as a ‘modern ICSID [International Centre for Settlement of Investment Disputes]’ for investment relating to China’s Belt and Road Initiative” as one of the examined factors of “the role of international organizations in promoting effective dispute resolution.”

Professor Feldman points out that to support international investment dispute resolution, a major multilateral development bank like AIIB should consider developing instruments with characteristics such as larger scope and dispute-prevention-oriented consideration.

As to the ICDPASO, it has proposed a framework for dispute prevention and resolution which puts more emphasis on alternatives to arbitration, requiring recruitment of world-class talent to further the framework.

Professor Feldman in the article concludes that both the AIIB and the ICDPASO can contribute respectively in different paths “to the development of a Beijing-based international investment dispute resolution hub.”

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