In challenging times for international law, the international rule of law as a connecting thread of the global legal order is a particularly salient topic. By providing a working understanding of the content and contexts of the international rule of law, and by taking the regime of international investment law as a case study, I argue that assessing ‘rise’ or ‘decline’ motions in this sphere warrants a nuanced approach that should recognize parallel positive and negative developments. Whilst prominent procedural and substantive aspects of international investment law strongly align with the international rule of law requirements, numerous challenges threaten the future existence of the regime and the appeal of international rule of law more broadly. At the same time, opportunities exist to adapt the substantive decision-making processes in investor-state disputes so to pursue parallel goals of enhancing the rule of law at both international and national levels. Through recognizing the specificities of interaction between the international and national spheres, arbitrators can reinvigorate the legitimacy of the international rule of law through international investment law—benefitting thus the future of both.

中文翻译：

---

通过国际投资法追求和重塑国际法治

在国际法充满挑战的时代，将国际法治作为全球法律秩序的连接线是一个特别突出的主题。通过提供对国际法治的内容和背景的实际理解，并以国际投资法制度为案例研究，我认为评估这一领域的“上升”或“下降”动议需要采取细微差别的方法。应该承认平行的积极和消极发展。虽然国际投资法的程序和实质性突出方面与国际法治的要求高度吻合，但众多挑战威胁着该制度的未来存在，更广泛地威胁着国际法治的吸引力。与此同时，存在着使投资者与国家之间的争端适应实质性决策过程的机会，从而追求在国际和国家两级加强法治的平行目标。通过认识到国际和国家领域之间互动的特殊性，仲裁员可以通过国际投资法重振国际法治的合法性，从而使两者的未来都受益。