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Explosion of International Trade Arbitration Felt in U.S. Courts
A largely unheralded feature of modern international business law is the emergence of thousands of bilateral investment treaties, or BITs, and fair-trading agreements, or FTAs, that give investors the right to pursue international arbitration if their investments are mistreated by the foreign host governments. Although investor-state arbitration is separate (indeed, often deliberately insulated) from litigation before national courts, the explosion of BIT and FTA arbitral jurisprudence during the past 15 years has been felt in the U.S. courts.