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12 Hague J. on Rule L. 1 (2020)

handle is hein.journals/hagjuote12 and id is 1 raw text is: Hague Journal on the Rule of Law (2020) 12:1-27 https:Ildoi.org/l 0.1007/s40803-018-00084-w ARTICLE Pursuing and Reimagining the International Rule of Law Through International Investment Law Velimir Zivkovit Published online: 17 January 2019 ©T.M.C. Asser Press 2019 Abstract In challenging times for international law, the international rule of law as a con- necting thread of the global legal order is a particularly salient topic. By providing a working understanding of the content and contexts of the international rule of law, and by taking the regime of international investment law as a case study, I argue that assessing 'rise' or 'decline' motions in this sphere warrants a nuanced approach that should recognize parallel positive and negative developments. Whilst promi- nent procedural and substantive aspects of international investment law strongly align with the international rule of law requirements, numerous challenges threaten the future existence of the regime and the appeal of international rule of law more broadly. At the same time, opportunities exist to adapt the substantive decision- making processes in investor-state disputes so to pursue parallel goals of enhancing the rule of law at both international and national levels. Through recognizing the specificities of interaction between the international and national spheres, arbitrators can reinvigorate the legitimacy of the international rule of law through international investment law-benefitting thus the future of both. Keywords International rule of law - International investment law - Investor-state arbitration - Fair and equitable treatment - Legitimacy of international law E Velimir Zivkovi6 velimir.zivkovic @kfg-intlaw.de PhD (LSE), LL.M (Belgrade), MJur (Oxon, Dist.), Research Fellow, KFG 'International Rule of Law-Rise or Decline?', Humboldt-Universitit zu Berlin, Berlin, Germany O_ Springer 0 ASSER

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