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"Crikey! Australia Shocks Corporate America on Trade"

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KoKo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-06-12 09:51 AM
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"Crikey! Australia Shocks Corporate America on Trade"
Crikey! Australia Shocks Corporate America on Trade

March 2, 2012 By Sarah Anderson
U.S. corporate lobby groups bash Australia for refusing to give foreign investors powerful new rights in the Trans-Pacific trade deal.

The Australian government doesnt like it when global tobacco giants can sue them over public health laws. Corporate America finds this utterly unreasonable.
Thirty-one U.S. corporate lobby groups, from the Business Roundtable to the National Potato Council, sent a letter to President Obama this week, urging him to give Australia a good smackdown.

The Aussies offense? They have refused to accept trade rules that allow foreign investors to sue governments in international tribunals. Known as investor-state dispute settlement, these rules are in every U.S. trade agreement negotiated in the past 20 years except the 2005 U.S.-Australia pact.


The Land Down Under stood up to U.S. corporate goliaths and their representatives in the U.S. Trade Representatives office that time around. But the issue has come up all over again because the two countries are negotiating a new trade pact with seven others, called the Trans-Pacific Partnership. Australia has reiterated its opposition to these so-called investor rights in this broader trade deal.

More at.............

http://www.ips-dc.org/blog/crikey_australia_shocks_corp...
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Me. Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-06-12 10:08 AM
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1. K & R
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Leopolds Ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-06-12 01:57 PM
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2. Heh, what if citizens are the investors? Does this mean citizens can sue foreign gov'ts
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dtexdem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-06-12 04:22 PM
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3. Crap like this needs to be excised from all trade deals.
And it should be made illegal in international law. Not that the U.S. or its corporations would obey such law.
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