The Trans Pacific Partnership: 5 Problems
http://www.opednews.com/articles/The-Trans-Pacific-Partners-by-Bob-Burnett-Failed-Trade-Policy_Fast-Track_Free-Trade_Globalization-NAFTA-131220-56.htmlThe Trans Pacific Partnership: 5 Problems
OpEdNews Op Eds 12/20/2013 at 08:18:57
By Bob Burnett
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1. US trade negotiators want TPP to get special, "fast-track" treatment from Congress. While Congress has the legal duty to oversee trade agreements, in the past it has given up some of that responsibility to the President. Under a fast-track arrangement, trade agreements such as TPP, would simply get an up or down vote without Congress delving into the details. The previous fast-track authorization lapsed in 2007 and now the Obama Administration wants Congress to restore it so that TPP will be approved with a minimum of fuss.
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2. TPP doesn't include China. The TPP partners are Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Canada, Peru, Singapore, Vietnam, and potentially Korea. But the Economic Policy Institute reported that since 2001, "the U.S. has lost 2.7 million jobs" due to growing trade deficits with China." The American Manufacturing website noted that approximately 40 percent of the US trade deficit is due to China, which "maintains numerous policies, including state-sponsored subsidies" [that] have a direct role in increasing the US-China trade imbalance."
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3. Free-trade agreements, such as TPP, haven't protected US jobs. Public Citizen reported that since 1994, "the [freed-trade agreement] deficit surge implies the loss of nearly one million American jobs." Public Citizen said wherever there were free-trade agreements US trade deficits increased and in the countries not covered by free-trade agreements our deficits decreased.
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4. If TPP were to be approved, most of the benefit would go to corporations and the rich. Public Citizen reported, "the TPP would mean wage losses for all but the richest 10% of U.S. workers."
= new reply since forum marked as read
Would be proposing 15% import tariffs and a New Deal program to stop the trade deficit, strategically you'd want to call out the Repubs whose voter base always complains about shipping jobs over seas. Problem is where do you get the money? The solution has gotta be from the Federal Reserve instead of 27 trillion dollar credit window, give it directly to industry and infrastructure projects for 30 million new productive jobs in the form of near 0% century bonds. And you can't say it won't work because both FDR and Kennedy did these things to a degree until their lives were ended before their time. I swear to you if the Fed starts its taper the economy is going to look a lot worse and if TPP is passed it's going to head towards looking like the Yelstin years in Russia.
As Per Usual, if you want to break the power of finance capital behind these sorts of deals you need a 1% Wall Street Sales Tax and if you're skeptic, I suggest you read here carefully (this isn't some financial transaction tax--it only targets huge firms
http://againstausterity.org/program/1-wall-street-sales-tax
