Published 23 December 2019
It defies logics to ask a giant to relinquish its powers in exchange for nothing. No individual or collectivity adopts decisions that -based on sound reflection- are detrimental to its genuine interests. Countries are no different. Then, in the context of international investment arbitration, the question that begs for an answer is: why would a country, against its own interests and experience, consent to be dragged to an international jurisdictional scheme that could greatly threaten its sovereign interests? This poignant question may only be answered with intelligent and fact-based responses. This is the task that this article addresses concerning an eventual adherence of Brazil to the ISDS [Investor-State Dispute Settlement] system.
Note: A more elaborate version is available in Portuguese, co-authored by Prof. Ribeiro do Val. Portuguese paper:
Um novo olhar para o Brasil em relação ao sistema de Solução de Controvérsias entre Investidores e Estado (January 2020)
by D. Figueroa and M. Ribeiro do Val