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Wed May 13, 2015, 08:52 PM

Making the World Safe for Big Business

The Trans-Pacific Partnership is about expanding US hegemony in East Asia.
by Sean Starrs ~ 5.13.15

(Yesterday the Senate voted 52–45 against giving President Obama “fast track” authority for the Trans-Pacific Partnership. The details of the accord have been shrouded in secrecy. Today Jacobin is publishing two comprehensive pieces on the trade deal.)

After five years of intense negotiations, the Trans-Pacific Partnership (TPP) may come to fruition by the end of this year. Much has been written (and rightly so) about the negative consequences of the TPP for American labor. But what are the international implications of the TPP, and in a world awash with bilateral and multilateral trade and investment treaties (there are over 3,200 international investment treaties alone), how is this one different?

And when the future of global capitalism seems to hinge on the relations between China and the United States, why is the US not allowing the world’s largest exporter, China (which has expressed interest), to join the TPP negotiations?

< snip >

On the one hand, the transformation of China from being one of the twentieth century’s leading anticapitalist and anti-Western imperialist nations to, by the twenty-first century, being one of the nations most eager to integrate with global capitalism — has been surprising to say the least, and certainly a boon for American capital.

On the other hand, China, a paradoxical bastion of illiberal/liberal state capitalism, remains relatively geopolitically independent from the United States. Of all the large economies, China is at once one of the most open and closed to foreign capital on Earth. Many sectors related to the commanding heights — such as banking, energy, telecommunications, and utilities — are totally closed to foreign capital. Many other sectors, however, are relatively open, and foreign investment has penetrated China more deeply than most other large economies (like Japan), especially those at similar levels of development ...

Much more here: https://www.jacobinmag.com/2015/05/trans-pacific-parternship-china-united-states-asia/

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