International Investment for Sustainable Development

This book critically examines the interface between sustainability, development, and the governance of international investment. In doing so it challenges the orthodox view that foreign direct investment (FDI) is the 'miracle drug' for development in poor countries and it exposes serious shortcomings in the current international investment regime, which expands the rights of transnational corporations (TNCs) without commensurate rewards for the common good. Amongst the issues probed are the relationship between FDI and sustainable development in developing countries and the structure and scope of the emerging international investment regime along with the underlying problems it poses for achieving global sustainability and equity. Ultimately the contributors map out a new way forward, towards the creation and implementation of international investment rules that will promote global sustainability, equity and rewards for all.