TPP 'worst trade deal ever,' says Nobel-winning economist Joseph Stiglitz

[n2doc]

Nobel Prize-winning economist Joseph Stiglitz says the Trans-Pacific Partnership may well be the worst trade agreement ever negotiated, and he recommends Canada insist on reworking it.

"I think what Canada should do is use its influence to begin a renegotiation of TPP to make it an agreement that advances the interests of Canadian citizens and not just the large corporations," he said in an interview with CBC's The Exchange on Thursday.

Stiglitz, a professor at Columbia University in New York, was a keynote speaker at a conference at the University of Ottawa on Friday about the complex trade deal.

Stiglitz takes issue with the TPP's investment-protection provisions, which he says could interfere with the ability of governments to regulate business or to move toward a low-carbon economy.

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http://www.cbc.ca/news/business/joseph-stiglitz-tpp-1.3515452

[think]

1. K&R.

[SammyWinstonJack]

2. Not the Gold Standard of trade deals then?

[yourout]

3. It is for the 1%ers.

Not so much for the average Joes.

[dana_b]

4. this part is mind blowing

"It used to be the basic principle was polluter pay," Stiglitz said. "If you damaged the environment, then you have to pay. Now if you pass a regulation that restricts ability to pollute or does something about climate change, you could be sued and could pay billions of dollars."

There were similar provisions in North American Free Trade Agreement that led to the Canadian government being sued, but the TPP goes even further.

He said the provision could be used to prevent raising of minimum wages or to overturn rules that prevent usury or predatory lending practices.

Stiglitz argues the deal, which is a 6,000-page mammoth and extremely complex, should have been negotiated openly.
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Did anyone else feel that stick being shoved up their ass? Because that is exactly what this "gold standard" feels like to me.

[polly7]

5. I've had a sick feeling reading about this agreement since it was first brought out.

NAFTA was bad enough ..... this, is horrible.

[dana_b]

6. it feels like they actually want this to be a third world country

a rich oligarchy, a few middle of the road serfs and then us peons, fighting each other for scraps. All the while they are destroying OUR planet and hoarding all the money.

[polly7]

7. And mine, too (Canada).

We've been the most sued country under NAFTA, I am so worried about losing the health-care system we have and banking and environmental regulations - (such as they are).

Weaker gov'ts in other nations will have no ability to fight these ISDS and lawsuits - their taxpaying citizens will pay with loss of services, safety nets, basic essentials for life in many places, imho. Everything for the top 1% .......... it's sickening that they'll have so much power.