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Arbitration: The End of the Golden Age?

By almost any account, arbitration has enjoyed its golden age in the last decades. International commercial arbitrations have soared, arbitrations under bilateral investment treaties have grown, and arbitration of purely domestic matters, especially in the United States, has received increased acceptance. Yet several recent signs suggest that the sun has begun to set on that golden age. Courts have erected some previously unseen barriers to international arbitration. Criticism has been leveled at various aspects of traditional Bilateral Investment Treaties (BITs) and nations have withdrawn from ICSID. And in the United States, Congress currently is considering the most sweeping reform of the Federal Arbitration Act since its enactment.

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