The 15th Geneva Global Arbitration Forum

I would describe the phenomenon as disenchantment with investment arbitration in some quarters, or perhaps as a partial retreat, primarily regional. Latin America obviously is more strongly affected than other parts of the world. On the other hand, isn’t it surprising that Latin America has come as far as it has considering its history in international arbitration? Anybody who has studied international law has heard about the Calvo doctrine. I don’t know what Carlos Calvo would have thought about most Latin American countries joining the ICSID Convention. This in itself is a surprising phenomenon.