Abstract: Ever since the separation of the loan capital from the commercial capital and the industrial capital, the virtual economy has been generated and expanded gradually along with the economic development. The virtual economy is a double-edged sword: on one hand, it promotes the development...

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English Abstract: The definition of “investment” is an important aspect of international investment treaties, and is often vital for ICSID tribunals when determining their jurisdiction. In practice, two approaches have emerged in the interpretation of “investment” by arbitration...

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Chinese Abstract: 在国际投资仲裁案件菲利普·莫里斯烟草公司（Philip...

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