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Jose Alvarez and Karl Sauvant have compiled an interesting and diverse set of 12 essays from authors representing scholarly, NGO, and legal practitioners� perspectives on the international investment regime. The essays are based on papers presented at the second Columbia International Investment Conference of 2007. They are complemented by an insightful introduction from the editors, a sketch of the �context� (Jeffrey Sachs), and a report on the debates ensuing at the conference (Andrea Bjorklund).
The contributions to this book show how divergent opinions are on questions of fairness concerning the investment regime. At the forefront of the contentions are the current status and the future direction of the regime � the realities of investment law. However, other than the general tenet in the current literature this volume does not seek a theoretical framework to understand and evaluate the regime. It takes a pragmatic stance in the sense that it promises to seek understanding of the pressures and failures of the regime from a participants� perspective (what are the expectations of the stakeholders) and, commendably, integrate the new global powers and needs like China�s rise and African resource-based development as constructive and limiting conditions for the proposals for reform. Unfortunately, these remain little more than promises. Neither the stakeholders� views nor the new power constellation and preferences of the �South� receive the analytic attention they seemingly deserve given the promises of the introduction and the �new� context sketched by Jeffrey Sachs.
Without a specific theoretical outlook and given the myriad issues on the table the volume appears at times somewhat haphazard. At the same time there is some considerable overlap between essays, although the individual contributions are mostly informative and some are of high quality.
