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The First Bilateral Investment Treaties - U.S. Postwar Friendship, Commerce, and Navigation Treaties (Hardcover)
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The First Bilateral Investment Treaties - U.S. Postwar Friendship, Commerce, and Navigation Treaties (Hardcover)
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The First Bilateral Investment Treaties is the first and only
history of the U.S. postwar Friendship, Commerce, and Navigation
(FCN) treaty program, and focuses on the investment-related
provisions of those treaties. The 22 U.S. postwar FCN treaties were
the first bilateral investment treaties ever concluded, and nearly
all of the core provisions in the modern network of more than 3000
international investment agreements worldwide trace their origin to
these FCN treaties. This book explains the original understanding
of the language of this vast network of agreements which have been
and continue to be the subject of hundreds of international
arbitrations and billions of dollars in claims. It is based on a
review of some 32,000 pages of negotiating history housed in the
National Archives. This book demonstrates that the investment
provisions were founded on the New Deal liberalism of the
Roosevelt-Truman administrations and were intended to acquire for
U.S. companies investing abroad the same protections that foreign
investors already received in the United States under the U.S.
Constitution. It chronicles the failed U.S. attempt to obtain
protection for investment through the proposed International Trade
Organization (ITO), providing the first and only history of the
investment-related provisions in the ITO Charter. It then shows how
the FCN treaties, which dated back to 1776 and originally concerned
with establishing trade and maritime relations, were
re-conceptualized as investment treaties to provide investment
protection bilaterally. This book is also a work of diplomatic
history, offering an account of the negotiating history of each of
the 22 treaties and describing U.S. negotiating policy and
strategy.
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