Tuesday, 24 January 2017

Finally the US ditches the TPP - Hooray! (video)

Trump did it but I don't think he can take full credit for the demise of the Trans Pacific Partnership, as there's been years of sustained opposition to it in all countries involved. In fact here there's of late been a big push by those opposed to it to get the senate to kill off ratification of the thing even if the gov did pass it in the lower house.

What we have now is somewhat ironic. The main criticism of the TPP on this side of the Pacific at least has been that it was exporting the worst of US social failures; that being corporate rule of it's society and the untold damage done to the US population as a result. Now without that influence, even if Australia and some of the other Pacific rim nations want to get another trade deal going, it's unlikely to have that same corporate influence as with the US involved.

Of course the TPP was Obama's attempt to limit China's influence in the Pacific. Now that aim is in tatters. Australia already has a free trade agreement with China and they're not being as unfriendly on trade as the US is now. Indeed it appears the US is shutting itself off from the world at the expense of trade.