WASHINGTON — An ambitious 12-nation trade accord pushed by President Obama would allow foreign corporations to sue the United States government for actions that undermine their investment “expectations” and hurt their business, according to a classified document. [Reposted from The New York Times | Jonathan Weisman | March 25, 2015] The Trans-Pacific Partnership — a…
When Singapore’s success first attracted notice, American and British economists scrambled to claim it as a victory for textbook laissez-faire. Supposedly if only the United States and the United Kingdom would let markets rip, they too could enjoy Singapore-like growth. [ by Eamonn Fingelton / March 23, 2015 / Forbes ] This could hardly…
Senate Finance Committee Chairman Orrin Hatch (R-UT) on Tuesday (March 24) indicated that he planned to submit to Ranking Member Ron Wyden (D-OR) by the end of the day his final offer for changes to a draft Trade Promotion Authority (TPA) bill, without giving any details on the offer itself. [Reposted from Inside US Trade …
China used more cement between 2011 and 2013 than the U.S. used in the entire 20th Century. [Reposted from The Washington Post | Ana Swanson | March 24, 2015] It’s a statistic so mind-blowing that it stunned Bill Gates and inspired haiku. But can it be true, and, if so, how? Yes, China’s economy has grown…
For Immediate Release: Contact: Symone Sanders (202) 454-5108 March 25, 2015 Lori Wallach (202) 454-5107, [email protected] TPP Leak Reveals Extraordinary New Powers for Thousands of Foreign Firms to Challenge U.S. Policies and Demand Taxpayer Compensation Unveiling of Parallel Legal System for Foreign Corporations Will Fuel TPP Controversy, Further Complicate Obama’s Push for Fast Track [A…
In August 2014, China’s state-owned Hudong-Zhonghua Shipbuilding Co. launched a new frigate, a small warship often used for submarine warfare or coastal defense, into Shanghai’s Huangpu River. As the frigate slid into the water, a casual passerby might have assumed that it was simply another ship in the Chinese Navy’s rapidly growing fleet. Yet…
As Congress prepares to consider fast track legislation to essentially pre-approve (without reading) the still-secret Trans-Pacific Partnership (TPP) opponents are working to get the word out and register opposition. Seattle’s city council is preparing to vote on a resolution opposing fast track, and a number of organizations sent an open letter spelling out what an acceptable fast track process would do. [Reposted from the Campaign for America’s Future blog | Dave Johnson | March 23,…
As the Trans-Pacific Partnership does or doesn’t approach completion, arguments for and against have had another airing, including the contention that the deal is worth doing for foreign policy reasons to enhance the US’s geopolitical standing in Asia. [Reposted from The Financial Times | Alan Beattie | March 25, 2015] This is an appealing fall-back…
WASHINGTON (Project Syndicate) — Is it appropriate to use trade agreements to discourage countries from using large-scale intervention in the foreign-exchange market to hold down their currencies’ value? That is the question of the day in American economic-policy circles. [Reposted from Marketwatch | Simon Johnson | March 24, 2015] In recent years, Japan, South Korea,…
WASHINGTON (DTN) — Rep. Rosa DeLauro, a vigorous opponent of granting President Barack Obama trade promotion authority, lashed out Thursday at USDA officials over the administration’s use of export statistics to convince members of Congress to support trade agreements. [Reposted from AG Partners LLC | Jerry Hagstrom | March 20, 2015] At a House…
