The South American way: Sub-regional integration under ALBA and UNASUR and international dispute resolution

Abstract

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.