Why the TPP is too Flawed for a "Yes" Vote in Congress
Author: Jeffrey Sachs, Columbia University Economist, Prof of Sustainable Development & Director of Earth Institute
Quote:
The agreement, with its 30 chapters, is really four complex deals in one.
The first is a free-trade deal among the signatories. That part could be signed today. Tariff rates would come down to zero; quotas would drop; trade would expand; and protectionism would be held at bay.
The second is a set of regulatory standards for trade. Most of these are useful, requiring that regulations that limit trade should be based on evidence, not on political whims or hidden protectionism.
The third is a set of regulations governing investor rights, intellectual property and regulations in key service sectors, including financial services, telecommunications, e-commerce and pharmaceuticals. These chapters are a mix of the good, the bad and the ugly. Their common denominator is that they enshrine the power of corporate capital above all other parts of society, including labor and even governments.
The fourth is a set of standards on labor and environment that purport to advance the cause of social fairness and environmental sustainability. But the agreements are thin, unenforceable and generally unimaginative. For example, climate change is not even mentioned, much less addressed boldly and creatively.
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"If stupidity got us into this mess, then why can't it get us out?"
Last edited by JohnnyB; 11-13-2015 at 07:30 AM.
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