Abstract
ABSTRACT Like the Journal of International Economic Law, which we celebrate with this special 25th Anniversary issue, investor-state dispute settlement (ISDS) came to life in the second half of the 1990s. The aim of this contribution is to ask whether ISDS has gone through any ‘transformation’, that is any ‘complete’ or ‘radical’ change, in the last twenty-five years. The article argues that, while a lot has changed in two and a half decades, in particular, the amount and breadth of criticism against investor-state arbitration, ISDS remains fundamentally the same, at least if one focuses on the practice of ISDS.
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