Developing a New Normative Framework for International Investment Law – International Rule of Law and Embedded Liberalism
[Prabhash Ranjan is a Senior Assistant Professor, Faculty of Legal Studies, South Asian University, India.] Reportedly, the Regional Comprehensive Economic Cooperation (RCEP) – a free trade and investment agreement comprising of 16 big Asian and Australian economies - will not have an investor-State dispute settlement (ISDS) mechanism. This is a huge decision and is consistent with the backlash that one has been witnessing against...