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Voluntary "Westernization" of the Expropriation Rules in Chinese BITS and Its Implication: An Empirical Study

Voluntary "Westernization" of the Expropriation Rules in... I. INTRODUCTION Compared with many other countries, China is a newcomer in the bilateral investment treaty (BIT) program.' However, since China adopted the "Open door" policy in the late 1970s, its BIT practice has been on a fast track. Up to now, China has signed BITS with 128 countries, ranking the second only to Germany on a global scale.2 Against this background, especially since the Chinese government proposed the "Going abroad" strategy in 1998, Chinese and international scholars began to focus on the policy transition of Chinese BITS, which arc generally divided into "two generations". As compared to the first generation, two major innovations of the new generation BITS arc emphasized, i.e., the country's acceptance of comprehensive investor-state dispute settlement and the inclusion of national treatment standard.3 As to the reason of China's policy shift, almost all scholars attribute this to China's practical needs to protect its emerging overseas investment. For example, Ms. Heymann directly states that "the bilateral investment law relating to China has changed over the last years due to China's economic transformation from a country receiving FDI to a country with outward investment."4 However, when reviewing China's involving BIT practice, a similar important provision - http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

Voluntary "Westernization" of the Expropriation Rules in Chinese BITS and Its Implication: An Empirical Study

Journal of World Investment and Trade , Volume 12 (1): 19 – Jan 1, 2011

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190011X00139
Publisher site
See Article on Publisher Site

Abstract

I. INTRODUCTION Compared with many other countries, China is a newcomer in the bilateral investment treaty (BIT) program.' However, since China adopted the "Open door" policy in the late 1970s, its BIT practice has been on a fast track. Up to now, China has signed BITS with 128 countries, ranking the second only to Germany on a global scale.2 Against this background, especially since the Chinese government proposed the "Going abroad" strategy in 1998, Chinese and international scholars began to focus on the policy transition of Chinese BITS, which arc generally divided into "two generations". As compared to the first generation, two major innovations of the new generation BITS arc emphasized, i.e., the country's acceptance of comprehensive investor-state dispute settlement and the inclusion of national treatment standard.3 As to the reason of China's policy shift, almost all scholars attribute this to China's practical needs to protect its emerging overseas investment. For example, Ms. Heymann directly states that "the bilateral investment law relating to China has changed over the last years due to China's economic transformation from a country receiving FDI to a country with outward investment."4 However, when reviewing China's involving BIT practice, a similar important provision -

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2011

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