Discuss (b) Hull formula

The investment's-origin (the surplus's-deployment (the saving-to-the-production (the capital's- cycle (the merchant-to-the-company (the chartered-companies (the colonial-investment's-dark- face (the concessions-era (the 20th-century's-codes (the post-colonial-codes (the calf-agreements (the 1960s'-the-protection-treaties (the BIT's-1959-Germany-Pakistan-first (the exam's-genesis- line))))))))))))))); the modern-history (the 1970s'-the-nationalisations (the expropriation-wave (the response (the 1980s'-90s'-the-liberalisation (the Washington-consensus (the BITs'-boom (the 3,000-treaties (the ISDS-era (the 2010s'-the-backlash (the reform-era (the exam's-arc)))))))))))))));