The aim of this chapter is to consider attempts at the codification of agreed international standards by which relations between MNEs and host states can be regulated. Such attempts have been made in the context of conflicts between states over the content and legal validity of international minimum standards for the treatment of aliens and their property, already briefly discussed in chapter 15.1 The result of these conflicts has been uncertainty as to the content of customary international law in the field of foreign investment. Indeed, in the Barcelona Traction...
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