TPPA: The Largest, Most Disastrous Trade Deal . . .
The Largest, Most Disastrous Trade Deal You've Never Heard Of
[ http://www.alternet.org/robert-reich-la ... 029834&t=5 ]
Lobbyists from America's biggest corporations and Wall Street's biggest banks have been involved in pushing the Trans-Pacific Partnership but not the American public.
By Robert Reich / AlterNet January 6, 2015 Print
Republicans who now run Congress say they want to cooperate with President Obama, and point to the administration's Trans-Pacific Partnership, or TPP, as the model. The only problem is the TPP would be a disaster.
If you haven't heard much about the TPP, that's part of the problem right there. It would be the largest trade deal in history -- involving countries stretching from Chile to Japan, representing 792 million people and accounting for 40 percent of the world economy -- yet it's been devised in secret.
Lobbyists from America's biggest corporations and Wall Street's biggest banks have been involved but not the American public. That's a recipe for fatter profits and bigger paychecks at the top, but not a good deal for most of us, or even for most of the rest of the world.
First some background. We used to think about trade policy as a choice between "free trade" and "protectionism." Free trade meant opening our borders to products made elsewhere. Protectionism meant putting up tariffs and quotas to keep them out.
In the decades after World War II, America chose free trade. The idea was that each country would specialize in goods it produced best and at least cost. That way, living standards would rise here and abroad. New jobs would be created to take the place of jobs that were lost. And communism would be contained.
For three decades, free trade worked. It was a win-win-win.
But in more recent decades the choice has become far more complicated and the payoff from trade agreements more skewed to those at the top.
Tariffs are already low. Negotiations now involve such things as intellectual property, financial regulations, labor laws, and rules for health, safety, and the environment.
It's no longer free trade versus protectionism. Big corporations and Wall Street want some of both.
MORE:
[ http://www.alternet.org/robert-reich-la ... 029834&t=5 ]
[ http://www.alternet.org/robert-reich-la ... 029834&t=5 ]
Lobbyists from America's biggest corporations and Wall Street's biggest banks have been involved in pushing the Trans-Pacific Partnership but not the American public.
By Robert Reich / AlterNet January 6, 2015 Print
Republicans who now run Congress say they want to cooperate with President Obama, and point to the administration's Trans-Pacific Partnership, or TPP, as the model. The only problem is the TPP would be a disaster.
If you haven't heard much about the TPP, that's part of the problem right there. It would be the largest trade deal in history -- involving countries stretching from Chile to Japan, representing 792 million people and accounting for 40 percent of the world economy -- yet it's been devised in secret.
Lobbyists from America's biggest corporations and Wall Street's biggest banks have been involved but not the American public. That's a recipe for fatter profits and bigger paychecks at the top, but not a good deal for most of us, or even for most of the rest of the world.
First some background. We used to think about trade policy as a choice between "free trade" and "protectionism." Free trade meant opening our borders to products made elsewhere. Protectionism meant putting up tariffs and quotas to keep them out.
In the decades after World War II, America chose free trade. The idea was that each country would specialize in goods it produced best and at least cost. That way, living standards would rise here and abroad. New jobs would be created to take the place of jobs that were lost. And communism would be contained.
For three decades, free trade worked. It was a win-win-win.
But in more recent decades the choice has become far more complicated and the payoff from trade agreements more skewed to those at the top.
Tariffs are already low. Negotiations now involve such things as intellectual property, financial regulations, labor laws, and rules for health, safety, and the environment.
It's no longer free trade versus protectionism. Big corporations and Wall Street want some of both.
MORE:
[ http://www.alternet.org/robert-reich-la ... 029834&t=5 ]