Constructing and Contesting Hegemony: Counter-hegemonic Resistance to the International Investment Law Regime

I examine five international investment cases that embrace the neoliberal vision. This economic model provides a new, contested space between the construction of hegemonic globalisations from above and the contestation of these globalisations from below. The first objective is to describe this space. Each ends the same way: the exit of an unwanted foreign investor after intense social mobilisation. The second objective is to show that counter-hegemonic victories are difficult to achieve: the regime relegates the voice of the subaltern to an inconsequential role, limits public interest state projects that may interfere with investor rights, and often includes a compensatory promise to foreign investors irrespective of the host state’s fiscal capacity. The third objective is to demonstrate the ambivalent role of the state in promoting such neoliberal projects, which necessitate that it adopt a more active role in either policing investment or policing society.MAS