The BRICS Group was born in the century XXI with renewed expectations of changes in the world order through greater participation of the Global South. However, what we have witnessed so far is the consolidation of a new/old unequal world order.
Developing countries, including India, should build capacity instead of playing the victim as the structure of international arbitration was heavily biased towards the developed countries, a top Finance Ministry official said.
The company’s Canadian and British subsidiaries have already announced their intention to initiate arbitration proceedings against Armenia in accordance with bilateral agreements if the matter is not resolved.
The Jeju provincial government has revoked the business license of a Chinese-owned for-profit hospital. The Chinese group may file a suit against the Korean government, using the investor-state dispute settlement system.