Devido ao colapso da economia americana, em 2009, os Fluxos de Capitais foram somente da Ordem Econômica de US$ 1.8 trilhões, 82% menos do que em 2007 (US$ 10.5 trilhões). Em 2009, o volume de comércio diário de ativos foi de US$ 1.5 trilhões, com US$ 178 trilhões como ativos financeiros. Os Investimentos Internacionais produtivos são uma das bases da internacionalização de empresas e do capital. Ao estabelecer uma planta industrial e/ou adquirir ações de empresas, este fluxo transfronteiriço de capital aporta bens, tecnologia, novas práticas administrativas, inter alios actos, e se distingue do investimento bursátil de carácter meramente especulativo e apátrida do hot money. Escrito em 3 (três) capítulos, este trabalho prescruta, no plano internacional, as regras jurídicas dos fluxos produtivos e as Medidas de Comércio Relacionadas aos Investimentos (TRIMs) da Organização Mundial de Comércio (OMC). Estas contêm cláusulas de Restrições as Práticas de Negócios que impedem os Estados-Membros da OMC a realizarem políticas públicas de desenvolvimento nacional. Não se olvidando do diálogo das fontes normativas internacionais, uma vez que a OMC não está em isolamento clínico do direito internacional, assim, verifica-se um claro embate entre a Soberania Permanente aos Recursos Naturais e o Direito ao Desenvolvimento. Entre mais de 140 (cento e quarenta) casos julgados pelo ICSID, excepcionalemente, e somente em 1 (um), o Estado-hospedeiro venceu, feito o exame dos 2 (dois) grandes sistemas jurídicos de investimentos. A tríade (EUA, UE, Japão) mais Coreia do Sul querem um modelo ainda mais liberal de regras de investimentos na OMC. Discorre este trabalho sobre os mais de 2.500 (dois mil e quinhentos) Bilateral Investments Treaties (BITs) e os Regional Trade Agreements (RTAs), como o do NAFTA, draft do MAI, e as Instituições de Bretton Woods ligadas ao IED, e a interação com a Doutrina, Jurisprudência e tendências. A UNCTAD critica veementemente este conjunto de regras liberais, sejam os BITs, sejam as TRIMs. O núcleo irradiador deste trabalho é a Declaração Conjunta indo-brasileira, que propõe a Reforma das TRIMs (G/TRIMS/W/25) para permitir, por meio de compras locais e requisitos de performance, o manejo de políticas públicas de desenvolvimento nacional hoje proibidas. Este trabalho conclui ser a Reforma das TRIMs uma impraticabilidade diplomática, de modo que o direito ao desenvolvimento dar-se-ia como improvável exceção. / Due to the US economic downturn, the Capital Flows in 2009 were only from the economic order of U.S.$ 1.8 trillion, 82% less than 2007 (US$ 10.5 trillion). In 2009 the daily trading volume of assets were U.S.$ 1.5 trillion with US$ 178 trillion as financial assets. The productive International Investments are one of the bases from the internationalization enterprises and of the capital. By establishing an industrial plant and/or acquire assets of companies, this cross-border flow of capital brings goods, technology, new management practices, inter alios acts. Distinguishing itself, by this way, from the stock market investment of purely speculative character and stateless, from the hot money. Written in 3 (three) chapters, this work search, in the international field, the legal rules from productive flows and the Trade Related Investment Measures (TRIMs) of the World Trade Organization (WTO). These clauses contains Restrictive Business Practices (RBP) that prevents States-Members from the WTO to carry out public policies of national development. Not forgetting the dialogue of sources from international rules, once the WTO is not in clinical isolation from the international law there is a clear clash between the Permanent Sovereignty on Natural Resources and the Right to Development. Between more than 140 (one hundred and forty) cases tried by ICSID, exceptionally and only one (one) the host-State won. Made the examination of the 2 (two) major legal systems of investments. The Triad (USA, EU and Japan) plus South Korea wants a model with more liberal investment rules in the WTO. Discusses this work on the more than 2500 (two thousand and five hundred) Bilateral Investments Treaties (BITs) and Regional Trade Agreements (RTAs) such as NAFTA, the MAI draft, and the Bretton Woods institutions related to FDI and the interaction with doctrine, jurisprudence and trends. UNCTAD strongly criticizes this liberal set of rules, not only the BITs, but also the TRIMs. The core matter from this work is the Indo-Brazilian Joint Statement on the Reform of the TRIMs (G/TRIMS/W/25), that proposes through local purchases and performance requirements the right of management of public policies for national development currently forbidden. This work concludes that the Reform of the TRIMs is a diplomatic impractibility, in a mode that the Right to development can be achieved as an improbable exception

This dissertation analyses the implications of international investment law on host states’ legal ability to protect the environment, regulate sustainable use of natural resources, and develop new approaches to manage environmental risks and uncertainties. ‘Environmental policy space’ is found to be a useful term when exploring the regulatory autonomy in this context. On one hand, investment law aims to ensure stability of the investment environment. On the other hand, environmental law needs flexibility to react to the degradation of the environment. It is found that those different aims do not have to be in conflict. There are useful mechanisms in national environmental law which provide for accessible, transparent and predictable decisions for the private actor. These mechanisms can fulfill the aim of stability in investment law. It is, however, concluded that core provisions of international investment treaties risk to put constraints to environmental law in a variety of ways. To diminish these risks, states, when concluding investment treaties, should make clear that constraining environmental regulation is not compatible with the overarching aim of sustainable development. Furthermore, the interpretation of provisions of investment protection must respect principles and instruments of environmental law not to continue being unbalanced towards investor interests. It is also concluded that allowing for investor – state arbitration, without the investor exhausting local remedies, will ignore the important national administrative review system of public environmental measures.

Economic globalization, the liberalization of markets, and the opening of once closed societies have all heralded the remarkable emergence of the current system of investment treaty arbitration. The current system, however, has attracted significant criticism and calls for reform. This thesis reviews the historical employment of arbitration in international society and the circumstances that lead to the emergence of the current system of investor-state dispute settlement. Following this, two recent proposals for reform of the current system are outlined: the creation of an international court of investment and the implementation of appellate mechanisms for investment treaty arbitration. The thesis concludes by offering an assessment of these proposals and argues for the rejection of the proposal to replace the current system with an international investment court, but offers a cautious endorsement of appellate mechanisms. / Graduate

Devido ao colapso da economia americana, em 2009, os Fluxos de Capitais foram somente da Ordem Econômica de US$ 1.8 trilhões, 82% menos do que em 2007 (US$ 10.5 trilhões). Em 2009, o volume de comércio diário de ativos foi de US$ 1.5 trilhões, com US$ 178 trilhões como ativos financeiros. Os Investimentos Internacionais produtivos são uma das bases da internacionalização de empresas e do capital. Ao estabelecer uma planta industrial e/ou adquirir ações de empresas, este fluxo transfronteiriço de capital aporta bens, tecnologia, novas práticas administrativas, inter alios actos, e se distingue do investimento bursátil de carácter meramente especulativo e apátrida do hot money. Escrito em 3 (três) capítulos, este trabalho prescruta, no plano internacional, as regras jurídicas dos fluxos produtivos e as Medidas de Comércio Relacionadas aos Investimentos (TRIMs) da Organização Mundial de Comércio (OMC). Estas contêm cláusulas de Restrições as Práticas de Negócios que impedem os Estados-Membros da OMC a realizarem políticas públicas de desenvolvimento nacional. Não se olvidando do diálogo das fontes normativas internacionais, uma vez que a OMC não está em isolamento clínico do direito internacional, assim, verifica-se um claro embate entre a Soberania Permanente aos Recursos Naturais e o Direito ao Desenvolvimento. Entre mais de 140 (cento e quarenta) casos julgados pelo ICSID, excepcionalemente, e somente em 1 (um), o Estado-hospedeiro venceu, feito o exame dos 2 (dois) grandes sistemas jurídicos de investimentos. A tríade (EUA, UE, Japão) mais Coreia do Sul querem um modelo ainda mais liberal de regras de investimentos na OMC. Discorre este trabalho sobre os mais de 2.500 (dois mil e quinhentos) Bilateral Investments Treaties (BITs) e os Regional Trade Agreements (RTAs), como o do NAFTA, draft do MAI, e as Instituições de Bretton Woods ligadas ao IED, e a interação com a Doutrina, Jurisprudência e tendências. A UNCTAD critica veementemente este conjunto de regras liberais, sejam os BITs, sejam as TRIMs. O núcleo irradiador deste trabalho é a Declaração Conjunta indo-brasileira, que propõe a Reforma das TRIMs (G/TRIMS/W/25) para permitir, por meio de compras locais e requisitos de performance, o manejo de políticas públicas de desenvolvimento nacional hoje proibidas. Este trabalho conclui ser a Reforma das TRIMs uma impraticabilidade diplomática, de modo que o direito ao desenvolvimento dar-se-ia como improvável exceção. / Due to the US economic downturn, the Capital Flows in 2009 were only from the economic order of U.S.$ 1.8 trillion, 82% less than 2007 (US$ 10.5 trillion). In 2009 the daily trading volume of assets were U.S.$ 1.5 trillion with US$ 178 trillion as financial assets. The productive International Investments are one of the bases from the internationalization enterprises and of the capital. By establishing an industrial plant and/or acquire assets of companies, this cross-border flow of capital brings goods, technology, new management practices, inter alios acts. Distinguishing itself, by this way, from the stock market investment of purely speculative character and stateless, from the hot money. Written in 3 (three) chapters, this work search, in the international field, the legal rules from productive flows and the Trade Related Investment Measures (TRIMs) of the World Trade Organization (WTO). These clauses contains Restrictive Business Practices (RBP) that prevents States-Members from the WTO to carry out public policies of national development. Not forgetting the dialogue of sources from international rules, once the WTO is not in clinical isolation from the international law there is a clear clash between the Permanent Sovereignty on Natural Resources and the Right to Development. Between more than 140 (one hundred and forty) cases tried by ICSID, exceptionally and only one (one) the host-State won. Made the examination of the 2 (two) major legal systems of investments. The Triad (USA, EU and Japan) plus South Korea wants a model with more liberal investment rules in the WTO. Discusses this work on the more than 2500 (two thousand and five hundred) Bilateral Investments Treaties (BITs) and Regional Trade Agreements (RTAs) such as NAFTA, the MAI draft, and the Bretton Woods institutions related to FDI and the interaction with doctrine, jurisprudence and trends. UNCTAD strongly criticizes this liberal set of rules, not only the BITs, but also the TRIMs. The core matter from this work is the Indo-Brazilian Joint Statement on the Reform of the TRIMs (G/TRIMS/W/25), that proposes through local purchases and performance requirements the right of management of public policies for national development currently forbidden. This work concludes that the Reform of the TRIMs is a diplomatic impractibility, in a mode that the Right to development can be achieved as an improbable exception

Over the last decades technological companies have grown significantly and impacted our societies both politically and economically.The significant amount of user data these companies collect and manage have economic as well as political impacts on our societies.  The busines model of social media companies has raised alerts and provoked calls for regulatory measures. The thesis investigated whether social media platforms ‘data’ can constitute a protected investment under a Bilateral Investment Treaty, and what is the position of the international investment law if any about the digital economy. The author made an analysis of data localization regulation to determine if tech companies can claim protection under a BIT to avoid potential issues of a domestic regulation. After the analysis of international legal instruments, BITs and scholar literature the results of the study concluded that data could constitute a protected investment under the wording of certain BITs.

In the world we live in today, the international trade and economy is becoming more and more dependent on data. Data that can be transferred across borders and during the last couple of years there is an observable trend that the cross-border data flows is increasing. The increase of the cross-border data flows is a result of the vast boom in the global digitalization.  Businesses and enterprises can use the data accessible in multiple kinds of ways, follow and keep control of production chains, follow the demand of consumers, and make alterations to the products following the requests of the consumers. This is improving the efficiency and productivity of the businesses. The free flow of data across borders does not only have positive effect for the businesses, but also from a larger perspective, it also contributes to the welfare of countries, and provide new possibilities and opportunities. Despite the fact that the free flow of data has its great effects on both businesses and the welfare of states, states are imposing restrictions on cross-border data flows. The restrictions in place are of deferent kinds, some makes it mandatory to store or process data, while other restrictions are harsher and could provide a ban or cut off on cross-border data flow.  In the legal system of international investment law, the fair and equitable treatment standard is a standard found in treaties, bilateral and multilateral. The standard is protecting the forging investors.  If a state is enforcing a restriction with an effect equivalent to a ban on cross-border data flow, what is the relation of that restriction to the fair and equitable treatment standard?

The Concept of Investment in International Agreements on Investment Protection The definition of investment is the key task for correct scope of application of rights and obligations, arising from investment contracts and for establishment of tribunals' jurisdiction above disputes, arising from contracts of investment character. The Work goal is analysis of individual bilateral, multilateral and versatile legal acts, containing the term "investment", from the international law viewpoint. It contains brief historical development and clarification of requirements that the investment must fulfill so that the investor, no matter whether a natural person or a juridical person, could claim protection of his/her investment, provided in compliance with relevant investment protection agreements. In spite of general cultural, political and geographical variety of the acts analyzed, it is possible to observe an effort to find common elements that the investment should contain and that are based, in particular, on their economic significance. The introductory chapter deals briefly with historical understanding of an investment in the context of international business development, beginning with the diplomatic protection institute, amended in international customary law. The second chapter pursues...

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Magister Legum - LLM (Mercantile and Labour Law) / Most developed countries that enjoy the lion's share of foreign investment do not have domestic legal frameworks on foreign direct investment. This is because investors are attracted by a holistic picture of these countries. Such countries have strong institutions of governance, enjoy political and economic stability, embrace democracy, have respect for rights, and have high levels of development - factors which attract investors. In terms of regulation, many of these countries are heavily reliant on bilateral investment treaties. However, this is not the case in developing countries such as Zimbabwe. The existence of an effective and efficient legal framework on the governance of foreign direct investment is an important consideration for investors. This emanates from the fact that developing countries often have weak legal systems, shaky economies and uncertain political environments.

The purpose of this thesis is to offer a complex analysis of newly rising concept of the environmental provisions, with a particular emphasis on China and its deteriorating state of environment. The thesis is composed of eight chapters. The first chapter deals with the core problem of the environmental provisions, that is the colliding nature of the efforts to implement the environmental regulation in the international investment law. The following two chapters address the legal framework of the environmental provisions and the main actors in the field. Chapter four is concerned with the analysis of the material and formal sources of Chinese domestic environmental and investment law, which has been amended recently in reaction to the dramatically deteriorating environment in the country and which prompted the proliferation and greenization of the Chinese bilateral investment treaties. Chapter five proceeds with the analysis of the environmental provisions, their genesis, terminological delimitation and introduction of their typologies. The sixth chapter is dedicated to the analysis of the approach of China towards environmentally responsible investing. Chapter seven proceeds with detailed explanation of the particular types of the environmental provisions, which have been incorporated into the...