4. The Spread of the Ownership and Control Framework in Trade and Investment Agreements

This chapter delves into the empirical validation of the ownership and control framework's dominance in trade and investment agreements, particularly in response to China's economic rise. It explores how this framework has been operationalized, with a focus on the USA, Japan, and the EU. The analysis reveals a clear temporal correlation between the framework's proliferation and China's integration into the WTO, underscoring a convergence in legal criteria and textual drafting. The chapter also examines the implications of this framework for domestic politics and economies, suggesting potential ramifications for economic development policies. Furthermore, it discusses the framework's impact on state capital transnationalization strategies, challenging existing literature and encouraging future research. The chapter concludes by highlighting the need to explore the diverse impacts of a unified legal framework on different states, particularly those engaged in state capital export beyond conventional ownership ties.