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Notwithstanding regime convergence, trade and investment disputes continue to be decided by two strikingly different groups of individuals. The differences between these groups, and the design features that have led to this differentiation, are here examined empirically. The deciders are indeed “faceless diplomats” in the WTO and “elite lawyers” in ICSID. The differences in adjudicators, in turn, have influenced not only the functioning of the trade and investment regimes, but also perceptions of them. Without the rule of private sector lawyers, the WTO has managed to achieve some rule of law; by contrast, investor-state dispute settlement is under fire for rule-of-law deficiencies because of repeated resort to the same highly specialized lawyers.
AJIL is a leading peer-reviewed journal, published quarterly since 1907. It features articles, editorials, notes, comments, and book reviews by pre-eminent scholars and practitioners from around the world addressing developments in public and private international law. The Journal also contains analyses of decisions by national and international courts and tribunals as well as a section on contemporary U.S. practice in international law. AJIL is indispensable for all professionals working in international law, economics, trade, and foreign affairs.
Cambridge University Press (www.cambridge.org) is the publishing division of the University of Cambridge, one of the world’s leading research institutions and winner of 81 Nobel Prizes. Cambridge University Press is committed by its charter to disseminate knowledge as widely as possible across the globe. It publishes over 2,500 books a year for distribution in more than 200 countries. Cambridge Journals publishes over 250 peer-reviewed academic journals across a wide range of subject areas, in print and online. Many of these journals are the leading academic publications in their fields and together they form one of the most valuable and comprehensive bodies of research available today. For more information, visit http://journals.cambridge.org.
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