This article describes two of the most recent sub-regional integration efforts in South America, namely ALBA and UNASUR, including the factors that have contributed to their development. The analysis offered here pays special attention to the role played by the Venezuelan government, particularly during the administration of former president Hugo Chavez, both in political and economic terms toward the rise and growth of ALBA. This article also explains how the heavy dependence on Venezuela’s support was also detrimental to ALBA for it has been negatively affected by the crisis currently faced by the Latin American country. In contrast to the case of ALBA, this article discusses the rise of UNASUR as a collective endeavor and the efforts of its members to create a regional framework that includes a novel proposal of a Centre for the Settlement of Investment Disputes.
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Corrales, Javier, Penfold-Becerra, Michael, Dragon In The Tropics: Hugo Chávez And The Political Economy Of Revolution In Venezuela (Brookings Institution Press 2011).
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Fach Gomez, Katia and Titi, Catharine, ‘UNASUR Centre for Settlement of Investment Disputes: Comments on the Draft Constitutive Agreement’ (2016) 3 Investment Treaty News <https://www.iisd.org/itn/2016/08/10/unasur-centre-for-the-settlement-of-investment-disputes-comments-onthe- draft-constitutive-agreement-katia-fach-gomez-catharine-titi/> accessed 30 November 2017.
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Kendall, Grant, ‘The ICSID Under Siege: UNASUR and the Rise of a Hybrid Regime for International Investment Arbitration’ (2015) 26 Osgoode Legal Studies Research Paper Series, paper 108 <http://digitalcommons.osgoode.yorku.ca/olsrps/108/> accessed 20 December 2017.
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Sarmiento, María Gabriela, ‘The UNASUR Centre for Settlement of Investment Disputes and Venezuela: Will Both Ever See the Light at the End of the Tunnel?’ (2016) 4 Journal of World Investment & Trade 658–80.
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