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SOTU Schizophrenia: Middle-Class Jobs vs. Fast Track and TPP
SOTU Schizophrenia: Middle-Class Jobs vs. Fast Track and TPP
1/20/2015
Tonight's State of the Union speech will spotlight a core conflict in the Obama presidency that will shape his legacy: either Obama will be the president whose initiatives to address income inequality and wage stagnation helped rebuild America's middle class, or he will prioritize a trade agenda that will offshore more good-paying jobs, destroy what is left of the American manufacturing sector, increase income inequality and speed the demise of America's middle class. He cannot do both.
Instead of delivering on Obama's campaign promises to create a new American trade policy that would benefit more Americans, the Obama administration has replicated and expanded on the old trade pact model. It includes provisions that make it easier for corporations to send our job overseas and, in the case of the proposed Trans-Pacific Partnership (TPP), terms that would undermine U.S. wages by making Americans compete with Vietnamese workers making 56 cents per hour.
The past deals that serve as the template for Obama's pacts have been so damaging that supporters of his 2011 Korea Free Trade Agreement (FTA) and of the 1990s North American Free Trade Agreement (NAFTA) now oppose Obama's massive TPP and the fast-track authority that would allow him to sign the deal before Congress thoroughly reviews and approves its contents.
Former Clinton Labor Secretary and NAFTA booster Robert Reich is calling for fast track and the TPP, which he calls a corporate Trojan horse, to be defeated. Paul Krugman recently warned about what lurks within the TPP, after initially cautioning about the pact. He joins pro-free-trade economists like Jeffrey Sachs and Joseph Stiglitz in warning about the TPP's threats....
http://www.huffingtonpost.com/lori-wallach/sotu-schizophrenia-middle_b_6509296.html
1/20/2015
Tonight's State of the Union speech will spotlight a core conflict in the Obama presidency that will shape his legacy: either Obama will be the president whose initiatives to address income inequality and wage stagnation helped rebuild America's middle class, or he will prioritize a trade agenda that will offshore more good-paying jobs, destroy what is left of the American manufacturing sector, increase income inequality and speed the demise of America's middle class. He cannot do both.
Instead of delivering on Obama's campaign promises to create a new American trade policy that would benefit more Americans, the Obama administration has replicated and expanded on the old trade pact model. It includes provisions that make it easier for corporations to send our job overseas and, in the case of the proposed Trans-Pacific Partnership (TPP), terms that would undermine U.S. wages by making Americans compete with Vietnamese workers making 56 cents per hour.
The past deals that serve as the template for Obama's pacts have been so damaging that supporters of his 2011 Korea Free Trade Agreement (FTA) and of the 1990s North American Free Trade Agreement (NAFTA) now oppose Obama's massive TPP and the fast-track authority that would allow him to sign the deal before Congress thoroughly reviews and approves its contents.
Former Clinton Labor Secretary and NAFTA booster Robert Reich is calling for fast track and the TPP, which he calls a corporate Trojan horse, to be defeated. Paul Krugman recently warned about what lurks within the TPP, after initially cautioning about the pact. He joins pro-free-trade economists like Jeffrey Sachs and Joseph Stiglitz in warning about the TPP's threats....
http://www.huffingtonpost.com/lori-wallach/sotu-schizophrenia-middle_b_6509296.html
But WOW, are they excited for the TPP in Vietnam!!!
Vietnam awaits Trans-Pacific Partnership signing
1/21/15
Through the TPP, Vietnam is seeking to help establish a trade and investment framework that supports job creation, promotes the nations competitiveness and expands trade.
Vietnam’s participation in the TPP is well founded as there is near unanimity among leading economists that the nation’s economy will be the largest beneficiary on the TPP track.
The TPP will promote strong trade with the US and other member nations, provide high protection for the apparel and footwear sector in foreign markets, which are Vietnam’s principal exports, and it will put Vietnam in a strong competitive position in these and other manufacturing industries where China’s comparative advantage is fading.
Specifically they have said the TPP will help create favourable conditions for the nation’s exports to grow thanks to such factors as the huge market and zero import tariffs on substantially all exports – which will benefit Vietnam’s strengths in the garment and textile, footwear, seafood, wood products and agriculture sectors.
On the reverse side however, the reduction of import tariffs TPP will bring with it fierce competition in the domestic market and some key products of the country will meet increased challenges including pork, beef, sugar, wine, egg and paper to name only a few.
Vietnam is blessed with a young and highly-educated workforce, a sizeable domestic market and geographical advantages. The TPP will increase Vietnam’s appeal as an investment destination and increase the flow of foreign direct investment (FDI).
It will result in higher incomes for Vietnamese workers and enable the country to invest more in own economy and grow more rapidly. This growth will in turn amplify the country’s competitive advantages, they have said....
http://english.vietnamnet.vn/fms/business/121471/vietnam-awaits-trans-pacific-partnership-signing.html
1/21/15
Through the TPP, Vietnam is seeking to help establish a trade and investment framework that supports job creation, promotes the nations competitiveness and expands trade.
Vietnam’s participation in the TPP is well founded as there is near unanimity among leading economists that the nation’s economy will be the largest beneficiary on the TPP track.
The TPP will promote strong trade with the US and other member nations, provide high protection for the apparel and footwear sector in foreign markets, which are Vietnam’s principal exports, and it will put Vietnam in a strong competitive position in these and other manufacturing industries where China’s comparative advantage is fading.
Specifically they have said the TPP will help create favourable conditions for the nation’s exports to grow thanks to such factors as the huge market and zero import tariffs on substantially all exports – which will benefit Vietnam’s strengths in the garment and textile, footwear, seafood, wood products and agriculture sectors.
On the reverse side however, the reduction of import tariffs TPP will bring with it fierce competition in the domestic market and some key products of the country will meet increased challenges including pork, beef, sugar, wine, egg and paper to name only a few.
Vietnam is blessed with a young and highly-educated workforce, a sizeable domestic market and geographical advantages. The TPP will increase Vietnam’s appeal as an investment destination and increase the flow of foreign direct investment (FDI).
It will result in higher incomes for Vietnamese workers and enable the country to invest more in own economy and grow more rapidly. This growth will in turn amplify the country’s competitive advantages, they have said....
http://english.vietnamnet.vn/fms/business/121471/vietnam-awaits-trans-pacific-partnership-signing.html
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