The RCEP negotiations on investment are expected to be a process of seeking a compromise among three investment agreement models; the U.S. model, the ASEAN model and the China’s model. The three models have high degree of similarity in the respects of investment protection and investor-state dispute settlement. However, their differences are pronounced regarding investment liberalization. If the negotiations pursuing consensus, development-friendliness and flexibility result in low standards of liberalization, the RCEP investment agreement will have little effect on consolidating the network of investment agreements. China’s acceptance of the national treatment obligation at the pre-establishment stage would make a meaningful progress in the investment negotiations, leading to a convergence with the TPP on the modalities of investment liberalization. The convergence may work as a stimulating force to further pursue harmonization of international investment regime at the multilateral level.
The RCEP negotiations on investment are expected to be a process of seeking a compromise among three investment agreement models; the U.S. model, the ASEAN model and the China’s model. The three models have high degree of similarity in the respects of investment protection and investor-state dispute settlement. However, their differences are pronounced regarding investment liberalization. If the negotiations pursuing consensus, development-friendliness and flexibility result in low standards of liberalization, the RCEP investment agreement will have little effect on consolidating the network of investment agreements. China’s acceptance of the national treatment obligation at the pre-establishment stage would make a meaningful progress in the investment negotiations, leading to a convergence with the TPP on the modalities of investment liberalization. The convergence may work as a stimulating force to further pursue harmonization of international investment regime at the multilateral level.
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