Introduction

This article evaluates the criticisms leveled at the ICSID in five particular respects. Firstly, it considers the perceived bias of the ICSID towards wealthy Western states and their investors as an ideological and normative proposition. Secondly, it evaluates the extent to which the processes of the ICSID incorporate this perceived bias into its institutional mechanisms. Thirdly, it considers whether ICSID arbitration is a viable alternative to domestic courts resolving investment disputes between states and foreign investors. Fourthly, it proposes ways in which the ICSID can become ...