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[h=1]TRANS-PACIFIC PARTNERSHIP: THE ULTIMATE SELLOUT?[/h]<iframe src="http://tpc.googlesyndication.com/safeframe/1-0-0/html/container.html" style="display: none; visibility: hidden;"></iframe>
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21 Aug 2014 - 1:18pm
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Have your heard of the Trans-Pacific Partnership ("TPP")?
If you haven't, you are not alone.
1. What is the TPP?
The TPP is a proposed regional free trade agreement among 12 countries namely Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.
Negotiations which began in 2005 have largely been conducted in secrecy under the pretext that revealing too much may compromise the strength of negotiating countries' positions.
In a similar vein, Singaporeans have largely been kept in the dark about the terms being pushed or agreed to by Singapore.
2. Lee Hsien Loong a firm advocate
What we do know however is that Lee Hsien Loong is a firm and vocal proponent and advocate of the TTP.
In June this year, he made a trip specially to the US to urge the US Government to adopt the Partnership notwithstanding the popular opposition to it.
http://www.straitstimes.com/news/singapore/more-singapore-stories/story/tpp-vital-us-involvement-asia-pm-lee-20140625
3. Controversy
Since inception, the TPP has been embroiled in controversy.
Various public advocacy groups have highlighted that the Partnership is being pushed by large corporations to gain access to markets.
One such group, Public Citizen, noted that of 29 draft chapters, only 5 deal with traditional trade issues.
http://www.citizen.org/TPP
Renown economist Joseph Stiglitz also warned that it presented "grave risks" and it "serves the interests of the wealthiest."
One of the most controversial clauses in the TPP gives corporations the right to sue sovereign governments "empowering them to privately enforce new rights and privileges, provided by the pact, by dragging governments to foreign tribunals to demand taxpayer compensation over policies that they claim undermine their expected future profits."
http://www.citizen.org/TPP
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This development is disturbing as it elevates the power and position of large corporations who may then hold governments hostage to issues that may prove detrimental to ordinary citizens.
This concern has been flagged out by Workers' Party NCMP Gerald Giam at a recent parliamentary session on 4 August:
http://geraldgiam.sg/2014/08/concerns-about-the-tpps-investor-state-dispute-settlement-provision/
The fact that Lee Hsien Loong is a firm advocate of the TPP is not surprising given that the PAP has always enjoyed a cozy relationship with large corporates.
Lee was also an active proponent of the Comprehensive Economic Corporation Agreement (CECA) with India which contains a clause to allow for mutual recognition of professional standards between India and Singapore to facilitate movement of professionals through both countries for employment.
Given its scale, the TPP looks to be the crowning jewel for Lee in his quest to open the doors of Singapore even further after letting in over 2 million foreigners into this island with most coming from India, China and the Philippines.
The Alternative View
*Article first appeared on https://www.facebook.com/permalink.php?story_fbid=753930151334986&id=358759327518739&substory_index=0
<!-- /.block --> <style>.node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;}</style> Post date:
21 Aug 2014 - 1:18pm
<ins id="aswift_0_expand" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: inline-table; visibility: visible; position: relative; background-color: transparent; border-image: none;"><ins id="aswift_0_anchor" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: block; visibility: visible; position: relative; background-color: transparent; border-image: none;"><iframe name="aswift_0" width="336" height="280" id="aswift_0" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" vspace="0" hspace="0" allowfullscreen="true" style="left: 0px; top: 0px; position: absolute;" allowTransparency="true"></iframe></ins></ins>
Have your heard of the Trans-Pacific Partnership ("TPP")?
If you haven't, you are not alone.
1. What is the TPP?
The TPP is a proposed regional free trade agreement among 12 countries namely Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.
Negotiations which began in 2005 have largely been conducted in secrecy under the pretext that revealing too much may compromise the strength of negotiating countries' positions.
In a similar vein, Singaporeans have largely been kept in the dark about the terms being pushed or agreed to by Singapore.
2. Lee Hsien Loong a firm advocate
What we do know however is that Lee Hsien Loong is a firm and vocal proponent and advocate of the TTP.
In June this year, he made a trip specially to the US to urge the US Government to adopt the Partnership notwithstanding the popular opposition to it.
http://www.straitstimes.com/news/singapore/more-singapore-stories/story/tpp-vital-us-involvement-asia-pm-lee-20140625
3. Controversy
Since inception, the TPP has been embroiled in controversy.
Various public advocacy groups have highlighted that the Partnership is being pushed by large corporations to gain access to markets.
One such group, Public Citizen, noted that of 29 draft chapters, only 5 deal with traditional trade issues.
http://www.citizen.org/TPP
Renown economist Joseph Stiglitz also warned that it presented "grave risks" and it "serves the interests of the wealthiest."
One of the most controversial clauses in the TPP gives corporations the right to sue sovereign governments "empowering them to privately enforce new rights and privileges, provided by the pact, by dragging governments to foreign tribunals to demand taxpayer compensation over policies that they claim undermine their expected future profits."
http://www.citizen.org/TPP
<ins id="aswift_1_expand" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: inline-table; visibility: visible; position: relative; background-color: transparent; border-image: none;"><ins id="aswift_1_anchor" style="margin: 0px; padding: 0px; border: currentColor; width: 336px; height: 280px; display: block; visibility: visible; position: relative; background-color: transparent; border-image: none;"><iframe name="aswift_1" width="336" height="280" id="aswift_1" frameBorder="0" marginWidth="0" marginHeight="0" scrolling="no" vspace="0" hspace="0" allowfullscreen="true" style="left: 0px; top: 0px; position: absolute;" allowTransparency="true"></iframe></ins></ins>
This development is disturbing as it elevates the power and position of large corporations who may then hold governments hostage to issues that may prove detrimental to ordinary citizens.
This concern has been flagged out by Workers' Party NCMP Gerald Giam at a recent parliamentary session on 4 August:
http://geraldgiam.sg/2014/08/concerns-about-the-tpps-investor-state-dispute-settlement-provision/
The fact that Lee Hsien Loong is a firm advocate of the TPP is not surprising given that the PAP has always enjoyed a cozy relationship with large corporates.
Lee was also an active proponent of the Comprehensive Economic Corporation Agreement (CECA) with India which contains a clause to allow for mutual recognition of professional standards between India and Singapore to facilitate movement of professionals through both countries for employment.
Given its scale, the TPP looks to be the crowning jewel for Lee in his quest to open the doors of Singapore even further after letting in over 2 million foreigners into this island with most coming from India, China and the Philippines.
The Alternative View
*Article first appeared on https://www.facebook.com/permalink.php?story_fbid=753930151334986&id=358759327518739&substory_index=0
