Venezuela doesn't want investment treaties anymore if they give investors the right to drag the country before a commercial court. "The system has been set up to break down the nation-state."
The heavily criticized legal mechanism, known as ISDS, is an important tool for European companies to pressurize developing countries. This year Uganda joins the rank of developing nations asking themselves: "Why have we ever signed this?"
The investor-state dispute settlement (ISDS) system has come under increasing criticism in recent years.