“BEIJING — The Trans-Pacific Partnership trade deal was welcomed on Tuesday as a win for the United States in its contest with China for clout in Asia, as America’s allies expressed optimism about the impact of the 12-nation accord on a region worried about its dependence on the slowing Chinese economy.The pact still must win approval in Congress, and analysts said the economic effects may be less sweeping than Washington predicts. But the mere fact that President Obama delivered on his pledge to close the deal came as a relief to allies in Asia. It was seen as a counterweight to China’s efforts to expand its influence not just in trade but in other areas, including its island-building in the disputed South China Sea and the establishment of a new regional development bank to compete with Western-led institutions.”
The TPP won’t save us. We have to invest our foreign policy and military dollars as carefully and smartly as the Chinese do, or they will pass us by in the blink of a century.
“ATLANTA — The United States and 11 other Pacific Rim nations on Monday agreed to the largest regional trade accord in history, a potentially precedent-setting model for global commerce and worker standards that would tie together 40 percent of the world’s economy, from Canada and Chile to Japan and Australia.The Trans-Pacific Partnership still faces months of debate in Congress and will inject a new flash point into both parties’ presidential contests.But the accord — a product of nearly eight years of negotiations, including five days of round-the-clock sessions here — is a potentially legacy-making achievement for President Obama, and the capstone for his foreign policy “pivot” toward closer relations with fast-growing eastern Asia, after years of American preoccupation with the Middle East and North Africa.Mr. Obama spent recent days contacting world leaders to seal the deal. Administration officials have repeatedly pressed their contention that the partnership would build a bulwark against China’s economic influence, and allow the United States and its allies — not Beijing — to set the standards for Pacific commerce.”
The comments at the Times are atrocious. Why the negativity towards this work of the Obama Administration, before we actually know most of the details? If most of the administrations claims are true, this will be a historic step in making it easier to sell US products into the Pacific rim counties. I read months ago, that Vietnam has giant tariffs against US auto parts, 80% or something like that. Many such deal breaking barriers are to come down.
Meanwhile, China is the new elephant in the room, and this deal, according to the Obama Administration, is to ensure that the US leads on trade policy development in the Pacific rim, instead of allowing China to take over because of its size and growing wealth. The effort deserves our support. The deal itself deserves careful consideration, when finally published.
The idea that it was behind closed doors to screw the 99% is a bit over the top. These trade agreements are traditionally behind closed doors, so the representatives involved can argue, and speak their minds. The trade representatives do not want the special interests sabotaging their discussion and effort, while they seek painful compromise.
According to this piece, the TPP has many facets, many of which should influence China to be a more respectable trade partner. Some analysts wish China had been invited to join in the talks at the onset.
“Intellectual Property Rights
“As the world’s most innovative economy, strong and effective protection and enforcement of IP rights is critical to U.S. economic growth and American jobs. Nearly 40 million American jobs are directly or indirectly attributable to “IP-intensive” industries. These jobs pay higher wages to their workers, and these industries drive approximately 60 percent of U.S. merchandise exports and a large share of services exports. In TPP, we are working to advance strong, state-of-the-art, and balanced rules that will protect and promote U.S. exports of IP-intensive products and services throughout the Asia-Pacific region for the benefit of producers and consumers of those goods and services in all TPP countries. The provisions that the United States is seeking – guided by the careful balance achieved in existing U.S. law – will promote an open, innovative, and technologically-advanced Asia-Pacific region, accelerating invention and creation of new products and industries across TPP…
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