Trans Pacific Partnership agreement back in the news

The segment also included a report from Al Jazeera’s Melissa Chan, who noted that although the trade agreement known as the Trans-Pacific Partnership TPP is not officially on the President’s agenda, it’s likely to be a major talking point throughout his trip. The TPP a deal between the US and 11 Asian countries which addresses tariff issues, copyrights, labor standards, and environmental measures. Critics in the US worry, though, that it could give rise to the tyranny of multi-national corporations.China was intentionally excluded from the TPP, but the US insists it would welcome Beijing if it wanted to join. Chan says Obama’s trip isn’t likely to solve any big problems, but hopes to start the process of rebuilding US-Asia relations that many Asians feel Washington has neglected.Gresser believes the Senate will also be supportive of the TPP. “In general, there’s pretty good bi-partisan support for the President on this. If he brings home a deal that opens markets, preserves the global internet, raises labor standards, I think it will be well-received.”Stone Fish adds that the biggest challenge for the TPP is public awareness. He says not many people know what the TPP is and what it means for the average American. He says Beijing is also investing in its new Silk Road Agreement. “On Saturday, Beijing offered $40 billion to start a fund that would help build infrastructure between China and Southeast and Central Asia.”

via Obama begins 10-day Asia trip | Al Jazeera America.

About mkevane

Economist at Santa Clara University and Director of Friends of African Village Libraries.
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