Table of Contents

Handbook on the Geopolitics of Business

Handbook on the Geopolitics of Business

Elgar original reference

Edited by Joseph Mark S. Munoz

In recent years, rapid globalization, novel technologies and business models, as well as economic and political changes have transformed the international business landscape. This pioneering volume offers a comprehensive discussion of the new global terrain and makes a strong case for the consideration of geopolitics in both the study and practice of modern-day business.

Chapter 16: International investment law and dispute resolution

Jonathan D. Greenberg and Evan Darwin Winet

Subjects: business and management, international business

Extract

In a 1994 Foreword to a collection of essays by Aron Broches, Judge Stephen M. Schwebel, of the International Court of Justice in the Hague, begins: “Aron (‘Ronnie’) Broches was ‘present at the creation,’ in Bretton Woods fifty years ago, of those two great international financial institutions of our time: the International Bank for Reconstruction and Development (‘The World Bank’), and the International Monetary Fund” (Schwebel, 1994, p. ix). Secretary of the Netherlands delegation to the1944 Bretton Woods Conference, Broches joined the Bank’s legal department two years later. In a keynote address delivered at the 1963 World Conference on “World Peace Through Law” in Athens, Greece, Broches – then serving as the Bank’s General Counsel – clearly and cogently introduced the World Bank’s centerpiece project to stimulate foreign direct investment to the developing world: International investment has become one of the major features of the partnership between the richer and the poorer nations and its promotion a matter of urgent concern to capital-importing and capital-exporting countries alike. This is particularly true of private foreign investment which, if wisely conducted, can make great contributions to the development of the economies of the recipient countries.

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