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The signing of RCEP signifies the official launch of the world’s largest and most promising free trade area in terms of population, playing a positive role in promoting regional trade, investment, and economic growth. Currently, based on the resurgence of neo-Calvinism, legitimacy crises in ISDS mechanisms, and the absence of ISDS mechanisms in RCEP, member countries are beginning to reexamine the RCEP investment dispute settlement mechanism. Overall, the RCEP investment dispute settlement mechanism fails to effectively balance the interests of host countries and investors. Therefore, based on comparative analysis of existing investment dispute settlement mechanisms, it may be advisable to explore establishing a new ISDS mechanism for RCEP that integrates both preventive measures and back-end mechanisms.
Jiang et al. (2024) studied this question.
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