TNCs Reviving TPP Frankenstein

By Jomo Kwame SundaramKUALA LUMPUR, Malaysia, Jan 12 2021 (IPS) The incoming Biden administration is under tremendous pressure to demonstrate better US economic management. Trade negotiations normally take years to conclude, if at all. Unsurprisingly, lobbyists are already urging the next US administration to quickly embrace and deliver a new version of the Trans-Pacific Partnership (TPP). Jomo Kwame Sundaram Trump legacy Repackaging and reselling a TPP avatar will not be easy. Well before Trump’s election, even the official mid-2016 International Trade Commission’s assessment doubted Peterson Institute of International Economics (PIIE) claims of significant benefits from the TPP for all. Unsurprisingly, most major US presidential candidates in the 2016 election – even Hillary Clinton, Obama’s Secretary of State, credited with his ‘pivot to Asia’ to isolate China – opposed the TPP. Trump’s campaigns and presidency have since changed US public sentiment. All too many Americans now blame globalisation and foreign threats – especially immigrants and China – for many major problems the US faces. Most believe that better jobs have been lost to cheaper production abroad, due to globalisation. Downward social mobility for most Americans in recent decades has actually been due to technological changes, including mechanisation and automation. Frankenstein-like TPP avatar Uncomfortable with Trump’s unilateralism despite other affinities, those keenest on checking...
Source: IPS Inter Press Service - Health - Category: International Medicine & Public Health Authors: Tags: Economy & Trade Featured Financial Crisis Global Globalisation Headlines Health Humanitarian Emergencies IPS UN: Inside the Glasshouse North America TerraViva United Nations Trade & Investment Source Type: news