U.S. Bilateral Investment Treaties: The Second Wave

This Article describes and appraises the second wave of negotiations. It functions as a sequel to an earlier article that described the first ten years of the program. Although the second wave of negotiations continues, and thus any conclusions about it necessarily are tentative, the second wave already has developed a variety of characteristics that distinguish it from the first wave. The goal of this Article is to identify the ways in which the second wave appears to differ from the first and to assess the significance of the differences.