TPP – Wall Street’s Wet Dream & Washington’s Answer to its Own Dwindling Economic Performance ...

Trans-Pacific Partnership (TPP): Corporate Power-Tool of The 1% Wednesday, 3. April 2013

 

TPP – Wall Street’s Wet Dream & Washington’s Answer to its Own Dwindling Economic Performance

One of the least discussed and least reported issues is the Obama administration’s effort to bring the Trans-Pacific Partnership agreement to the forefront, an oppressive plurilateral US-led free trade agreement currently being negotiated with several Pacific Rim countries. Six hundred US corporate advisors have negotiated and had input into the TPP, and the proposed draft text has not been made available to the public, the press or policymakers. The level of secrecy surrounding the agreements is unparalleled – paramilitary teams scatter outside the premise of each round of discussions while helicopters loom overhead – media outlets impose a near-total blackout of reportage on the subject and US Senator Ron Wyden, the Chair of the Congressional Committee with jurisdiction over TPP, was denied access to the negotiation texts. “The majority of Congress is being kept in the dark as to the substance of the TPP negotiations, while representatives of U.S. corporations — like Halliburton, Chevron, PhaRMA, Comcast and the Motion Picture Association of America — are being consulted and made privy to details of the agreement,” said Wyden, in a floor statement to Congress.

In addition to the United States, the countries participating in the negotiations include Australia, Brunei, Chile, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Japan has expressed its desire to become a negotiating partner, but not yet joined negotiation, partly due to public pressure to steer-clear. The TPP would impose punishing regulations that give multinational corporations unprecedented rights to demand taxpayer compensation for policies they think will undermine their expected future profits straight from the treasuries of participating nations – it would push the agenda of Big PhaRMA in the developing world to impose longer monopoly controls on drugs, drastically limiting access to affordable generic medications that people depend on. The TPP would undermine food safety by limiting labeling and forcing countries like the United States to import food that fails to meet its national safety standards, in addition to banning Buy America or Buy Local preferences.
 
According to leaked draft texts, the TPP would also impose investor protections that incentivize offshoring jobs through special benefits for companies – the TPP stifles innovation by requiring internet service providers to police user-activity and treat small-scale individual downloads as large-scale for-profit violators. Most predictably, it would rollback regulation of finance capital predators on Wall Street by prohibiting bans on risky financial services and preventing signatory nations from exercising the ability to independently pursue monetary policy and issue capital controls – signatories must permit the free flow of derivatives, currency speculation and other manipulative financial instruments. The US-led partnership – which seeks to impose ‘Shock and Awe’ Globalization – aims to abolish the accountability of multinational corporations to the governments of countries with which they trade by making signatory governments accountable to corporations for costs imposed by national laws and regulations, including health, safety and environmental regulations. 

http://www.boilingfrogspost.com/2013/04/03/trans-pacific-partnership-tpp-corporate-power-tool-of-the-1/#more-19429