However, spectrum’s privatisation and commoditisation, and its exponentially increasing relevance and value, have drawn sovereign intervention on the part of host states in the name of the public interest. In addressing both areas, this chapter focuses on the boundaries set by host states’ obligations under inter­national trade and investment agreements, including the standards of protection set forth therein. Indeed, the investor-state disputes arena has seen numerous investors impugning restrictive measures by host states that were founded on defence and national security concerns. Investor-state tribunals unequivocally recognise state police powers and their right to regulate in the public interest and protect public policy. Defence and national security imperatives – irrespective of how acute they are – do not alter this principle.

Source: New York Times October 17, 2023 09:16 UTC