ABSTRACT
This book critically assesses patterns and issues in both the substantive law and the policy environment impacting on foreign investment flows in major Asian economies, and international dispute resolution law and practice related to those flows. The main focus is foreign direct investment (FDI), although we also touch on (typically shorter-term) portfolio investments. There are a number of different definitions of FDI. This book adopts that used by the United Nations Conference on International Trade Law (UNCTAD 2009: 35): ‘FDI can be defined as an investment made by a resident of one economy in another economy,… of a long-term nature or of “lasting interest”’. 1 As well as inbound FDI, the book examines the recent growth in investments undertaken abroad by states in the Asian region (especially China) that have traditionally been net capital importers. FDI flows have generally accelerated since the Asian Financial Crisis of 1998, paralleling the strong economic growth in Asia that has kept the world economy afloat following the Global Financial Crisis of 2008 (GFC). However, the GFC has led to shifts in FDI and other capital flows, as well as reassessments of FDI restrictions and broader concerns about maintaining appropriate regulatory capacity and discretion over market activity.
