Surprise! The New Trade Deal Is Written for and By Corporations
There probably is no more (occasionally overly) judicious voice on the world economy than Jeffrey Sachs. He has taken a look at the soft spots in the monstrous Trans-Pacific Partnership and he has found them to be bad enough to vote down the bill as a whole.
The third is a set of regulations governing investor rights, intellectual property, and regulations in key service sectors, including financial services, telecommunications, e-commerce, and pharmaceuticals. These chapters are a mix of the good, the bad, and the ugly. Their common denominator is that they enshrine the power of corporate capital above all other parts of society, including labor and even governments. The fourth is a set of standards on labor and the environment that purport to advance the cause of social fairness and environmental sustainability. But the agreements are thin, unenforceable, and generally unimaginative. For example, climate change is not even mentioned, much less addressed boldly and creatively.
That sounds really bad. But, according to Sachs, there is worse to come.
The most egregious parts of the agreement are the exorbitant investor powers implicit in the Investor-State Dispute Settlement system as well as the unjustified expansion of copyright and patent coverage. We've seen this show before. Corporations are already using ISDS provisions in existing trade and investment agreements to harass governments in order to frustrate regulations and judicial decisions that negatively impact the companies' interests. The system proposed in the TPP is a dangerous and unnecessary grant of power to investors and a blow to the judicial systems of all the signatory countries. And, as in earlier trade agreements, the United States has pushed through overly strong intellectual property rights that strengthen the aggressive pricing practices of big pharma and unnecessarily extend the copyright protections far beyond their social usefulness.
<snip>
Perhaps most disappointing is the lack of creativity in the development, labor, and environmental chapters. Yes, they rhetorically defend global economic development, labor standards, and environmental sustainability, but they do so without specific enforcement powers. Why is it that companies can force arbitration tribunals to defend their investor rights, but workers have no such power? Why is climate change not even considered in the draft, despite the fact that it represents the most important environmental threat of the 21st century, and may have strong implications for future trade rules?
<snip>
http://www.esquire.com/news-politics/politics/news/a39636/tpp-giveaway-corporations/
So no matter how great labor, environmental or other pieces of the TPP may sound, lacking provisions for meaningful enforcement, renders them as nothing but horribly cynical and hollows rhetoric.
= new reply since forum marked as read
