Some interesting reads on international arbitration, the future of world trade and my favourite - ISDS!
1. International investment treaties entered into between States throw open challenges of domestic measures to international arbitral scrutiny if there are ISDS clauses. The terms of the treaty become critical in that context. How it is interpreted depends on what the wording of the clauses are. Differences in clauses could lead to varied interpretations. This piece in the Kluwer Arbitration Blog, in the context of the Steel legislation in the UK, on whether expropriation has taken place and whether it is subject to international arbitration highlights the importance of treaty language. A single sentence can change the way a treaty is implemented. again, the devil si always in the details of the provisions of the provisos!
2. What is the future of world trade in today's context. Do multilateral trade negotiations have a role? Can bilateral tariff negotiations lead to an international consensus? How can the WTO be reformed and made more relevant? Alan Wolff outlines his ideas on what needs to be done in this piece in the Peterson Institute blog. I liked the way he highlighted the core WTO principles of bound tariffs, MFN and transparency in simple terms.
3. Andrew Elek in this piece suggests that reiteration of major economies of the principles of multilateralism and global trade rules is necessary at this stage.
4. Does this UN Model Convention on taxation oust the jurisdiction of ISDS in tax matters? This piece explores the issue - but the larger point is that taxation has been at the heart of many international arbitration disputes.
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