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The Shocking Story Of The Trans Pacific Partnership by Dr. Vernon Coleman

In 2005, New Zealand, Chile, Brunei and Singapore created the Trans-Pacific Partnership. The partnership was a mutual trade agreement.
In 2008, the United States decided to take over the TPP and the Obama administration sponsored lobbyists to transform the TPP into an agreement designed to block the public regulation of health, the environment, or other public interest problems that might interfere with corporate profits – namely American corporate profits. Obama protected the big international companies and the bankers and punished the people who had been foolish enough to vote for him.
Obama’s bailouts made the crooks ever richer and impoverished still further the poor and the middle classes. The destruction of the middle classes and the poor is a deliberate neoliberal policy, in the same way that the destruction of Third World economies is a deliberate policy.
The American version of the TPP gave power to a new court (an Investor State Dispute Settlement court) which could stop governments from suing companies and investors who had caused damage. Worse still, ISDS tribunals could order governments to pay fines to foreign companies which felt that public regulations had impaired their profits. The tribunals could order a government to pay a company any amount it liked, without limit. And so the new court made it possible for bankers and companies to do what they liked to a country without any penalty. And if a bank or company felt that a country’s labour or safety regulations might damage its profits, it could sue the Government for loss of profits.
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2 Replies to “The Shocking Story Of The Trans Pacific Partnership by Dr. Vernon Coleman

  1. thank you for reporting on the TPP. it is a subject that is too brainy for the American middle class, and the elites hoped that that would keep anyone from finding out about it. it was a Canadian journalist who broke the news that Obama was secretly trying to force the USA into TPP before Trump could take office. The Atlantic Magazine wrote a lengthy defense of TPP, which I read carefully. In conclusion, they offered only one reason why it could possibly, eventually benefit the American middle class. That was the specious and ingenuous claim that if Chinese authorites complied with the environmental regulations that TPP imposes (big if) that the cost of labor that compliance created would in theory raise wages in China and thus make American laborers more competitive. You tell me if that is a persuasive argument for handing control of all of our markets to Chinese authorities.

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