Embedded Liberalism and IIAs: The Future of the Right to Regulate, with Reflections on WTO Law
Bibliographic record
Abstract
The embedded liberalism of the law of the World Trade Organization (WTO) is often contrasted to a common laissez-faire liberalism of old generation investment agreements (IIAs). While WTO law broadly attempts to reconcile trade liberalisation with regulatory flexibility, old generation IIAs have been liberal instruments overly protective of investor interests at the expense of the state’s right to regulate in the public interest. But the unharnessed liberalism of these international investment treaties, although still largely persistent due to the slow reform of international investment law, progressively gives way to new more balanced instruments and a paradigm shift is witnessed towards a model that is closer to WTO law’s embedded liberalism. The chapter explores this shift in international investment law towards treaty models that radically change the landscape of the discipline, through the widespread use of exceptions for public policy measures and other provisions aiming to safeguard the state’s regulatory flexibility. The focus of the chapter is on very new investment agreements, including megaregionals, such as the 2016 Trans-Pacific Partnership (TPP), the 2016 EU-Canada Comprehensive Economic and Trade Agreement (CETA), and the under negotiation Transatlantic Trade and Investment Partnership (TTIP), and recently-adopted model bilateral investment treaties, such as the 2015 Brazilian model ‘cooperation and facilitation investment agreement’ (CFIA), and India’s 2015 model BIT. In light of these instruments, it examines how embedded liberalism and the state’s right to regulate from ‘emergent’ concepts in international investment law are becoming the quintessence of new IIAs.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.011 | 0.010 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.001 | 0.002 |
| Science and technology studies | 0.006 | 0.056 |
| Scholarly communication | 0.023 | 0.022 |
| Open science | 0.002 | 0.006 |
| Research integrity | 0.011 | 0.021 |
| Insufficient payload (model declined to judge) | 0.004 | 0.002 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".