Who will benefit from the Trans-Pacific Partnership?
Workers? Consumers? Small businesses? Taxpayers? Or the biggest multinational corporations in the world?
In Canada according to the long term GDP growth rate chart, our trade relationships have not worked out so well.
"The troubling, explosive growth of such cases point to a litigious future where corporate interests increasingly appear to trump national sovereignty with billions of dollars at stake."
John Fullerton Level 3 Capital Advisors and a former managing director of JPMorgan
This isn’t a partisan issue. Conservatives who believe in U.S. sovereignty should be outraged that ISDS would shift power from American courts, whose authority is derived from our Constitution, to unaccountable international tribunals. Libertarians should be offended that ISDS effectively would offer a free taxpayer subsidy to countries with weak legal systems. And progressives should oppose ISDS because it would allow big multinationals to weaken labor and environmental rules. Elizabeth Warren 2015
Those worried about the climate implications of the TPP need look no further than the Energy Advisory Committee to the United States Trade Representative, comprised predominantly of executives from the fossil fuel industry, including from Chevron, Halliburton, Nuclear Energy Institute, General-Electric Oil and Gas, Caterpillar, and other major fossil fuel corporations. Sierra Club 2015
Some 600 corporate trade advisers, with names like Halliburton and Caterpillar, are listed on leaked drafts published by WikiLeaks... Based on those drafts, we also know that the draft agreement includes a provision for what’s called “investor-state dispute settlement.” (ISDS). This little-known mechanism was initially created to protect corporate investments in countries where the rule of law is immature or at risk. In reality, it often empowers corporations to sue sovereign nations over any policies that conflict with their supposed right to the profits of free trade – including health and environmental policies designed to serve the democratically determined public interest. The Guardian 2014
WikiLeaks is raising $100,000 reward for TPP
Bernie Sanders "TPP: A Raw Deal"
Stop Calling the TPP a Trade Agreement. It Isn’t.
TPP extends patents, copyrights and other monopolies so investors can collect “rents.”
TPP elevates corporations and corporate profits to and above the level of governments. TPP lets corporations sue governments for laws and regulations that cause them to be less profitable. Enabling tobacco companies to sue governments because anti-smoking campaigns limit profits has nothing to do with trade. Enabling corporations to sue states that try to regulate fracking has nothing to do with trade.
While giving corporations a special channel to sue governments, labor, environmental, consumer and other “stakeholder” organizations do not get a channel for enforcement. This helps enable corporations to break unions, force wages down and pollute without cost. This increases the power of corporations over governments – and us.
READ THE WHOLE ARTICLE by Dave Johnson May 26, 2015