The First Bilateral Investment Treaties
U.S. Postwar Friendship, Commerce, and Navigation Treaties
Kenneth J. Vandevelde
Reviews and Awards
"Professor Vandevelde has produce a remarkable account of the history of friendship, commerce, and navigation agreements." - Jus Gentium
"Today the post-WWII consensus favoring free trade and capital flows is under severe strain. Kenneth Vandevelde, the leading historian of international investment law, reminds us how and why every U.S. President (starting with Franklin Delano Roosevelt) sought to use U.S. constitutional principles to project New Deal liberalism onto the world." - José E. Alvarez, Herbert and Rose Rubin Professor of International Law, NYU School of Law
"Professor Vandevelde provides a very much needed prequel to studies of the modern investment treaty regime. He traces key treaty provisions back to the late 1940s when efforts to launch an International Trade Organization failed, and investment principles then migrated into U.S. Friendship, Commerce, and Navigation (FCN) treaties. Most valuable is the chapter collecting the U.S. State Department's interpretation of provisions so central in bilateral investment treaties disputes today." - Professor Lucy Reed, Director of the Centre for International Law, National University of Singapore