As tensions between investors’ rights and sovereign power escalate, investor–state dispute settlement (ISDS) has become a focal point of backlash and controversy. As a result, ISDS now embodies two opposing currents in international law: (1) the erosion of sovereignty that accompanied economic globalization, trade frameworks, and investment treaties following the Second World War and (2) more recently, reassertions of sovereignty prompted by recent backlashes against the global economic order. This article measures and evaluates outcomes of the ISDS system for sovereign participants. Using the best available data, this article contributes more detailed assessments of sovereign winners (home states of claimants) and sovereign losers (respondent states) in the ISDS system. This article also considers the distribution and the proportional impact of outcomes for sovereign participants, both of which are fundamental in the legitimacy debates surrounding the ISDS system.

中文翻译：

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投资者与国家之间争端解决的得失

随着投资者权利与主权之间的紧张关系升级，投资者与国家之间的争端解决（ISDS）已成为抵制和争议的焦点。结果，ISDS现在体现了国际法中的两个相反潮流：（1）第二次世界大战后伴随着经济全球化，贸易框架和投资条约的主权受到侵蚀；（2）最近，由于最近的主权而重新确立主权反对全球经济秩序。本文对主权参与者衡量和评估ISDS系统的结果。本文使用可获得的最佳数据，对ISDS系统中的主权优胜者（索赔人的本国）和主权输家（被申请人国）进行了更详细的评估。