New screening of foreign direct investment (FDI) in Europe:: a first step towards a new paradigm?
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Jerónimo Maillo [1]
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[1] Universidad CEU San Pablo
Universidad CEU San Pablo
Madrid, España
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- Localización: SYbIL: Spanish yearbook of international law, ISSN 0928-0634, Nº 24, 2020, págs. 180-209
- Idioma: inglés
- Enlaces
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Resumen
In March 2019, Regulation 2019/452, establishing a European framework for the screening of FDI in the Union, was finally adopted after a fast-track legislative procedure of only one year and a half. However, the cooperation mechanism therein designed will only apply from 11 October 2020. Although the Regulation clearly establishes the principle of non-discrimination between third countries, it is evident that one of the main triggers of the new mechanism has been the exponential increase in direct investments in Europe from emerging economies and especially from China. Does this new regulation represent a new era for FDI in Europe? What is the scope and impact of the Regulation on future investment relationships? Does the Regulation try to limit FDI in Europe? Has there been a political shift in the EU towards less liberalization of these investments? Is effective protection established against risks to public security, lack of reciprocity and / or eventual unfair competition? Is it a first step of a trend that announces new future steps in the same direction? This contribution tries to answer all these questions.
