Can a “Dracula Strategy” Bring Trans-Pacific Partnership into the Sunlight?
What would the TPP do?
Eleven countries are now involved—Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam, and the United States—and there is an open invitation for more to join. Think of the TPP as a NAFTA on steroids, which could encompass half of the world.
Foreign firms could extract unlimited amounts of taxpayer money as compensation when investors claim that U.S. government actions undermine their expected future profits. Seriously.
This is the largest, most potentially damaging agreement since the 1995 establishment of the WTO. And you may never have heard about it before. That’s because the negotiations, which have been underway for three years, are being conducted in extreme secrecy. The public, Congress, and the press are locked out, but the 600 official corporate advisors have access to the negotiating texts.
The TPP is the latest strategy by the same gang who got us into the North American Free Trade Agreement (NAFTA) and pushed for the expansion of the WTO: American job-offshorers like GE and Caterpillar; banksters like Citi; pharmaceutical price-gouging giants like Pfizer; oil, gas, and mining multinationals like Chevron and Exxon; and agribusiness monopolists like Cargill and Monsanto.
They’ve misbranded the TPP as a model 21st-Century “trade” deal to try to sell it with the usual false promises of it expanding exports. But only two of the TPP’s 29 chapters are about “trade.”
Most of the TPP’s proposed provisions instead comprise a corporate power grab. The TPP would include extreme protections for foreign investors, which would help corporations offshore American jobs to low-wage countries. These terms would require governments to provide foreign investors a guaranteed “minimum standard of treatment” when they relocate, including special privileges and rights that domestic firms and investors do not enjoy. Foreign firms—or foreign subsidiaries of U.S. firms—could extract unlimited amounts of taxpayer money as compensation when investors claim that U.S. government actions undermine a corporation’s expected future profits. Seriously.”