from Washington’s Blog:
Presently, three supposed ‘trade’ deals are being proposed by U.S. President Barack Obama, to be signed by major trading nations (except Russia, China, and the other BRICS nations): TPP with Asia, TTIP with Europe, and also (but only for financial and other services) TISA with Europe. The promised benefits in all three cases are said to be economic.
Three independent economic studies have been done, two of Obama’s TTIP treaty with Europe, and one of his TPP treaty with Asia, and all three independent economic analyses find that the publics in each participating country will suffer, and that the owners of international corporations (especially in the U.S.) will benefit, if the proposed ‘trade’ deal goes into effect.
The latest such study to become available to the public was released due to a Freedom of Information Act lawsuit in the UK, which forced the British Government to release that independently produced study. It was actually the first of the three to have been done, dated three years back, in April 2013. It was titled, COSTS AND BENEFITS OF AN EU-USA INVESTMENT PROTECTION TREATY. Its bottom line was: “we conclude that an EU-US investment treaty that does contain ISDS [Investor State Dispute Resolution, ending national sovereignty] is likely to have few or no benefits to the UK, while having meaningful economic and political costs. Removing ISDS from the treaty would be unlikely to have an appreciable impact on the (already negligible) benefits of a treaty with ISDS, while largely removing the costs of the treaty to the UK. While we have not conducted a full cost-benefit assessment of an EU-US investment treaty [that] does not contain ISDS, such a treaty would likely be a less costly policy option from the perspective of the UK.” This study explained, better than any other, that the template for all of Obama’s ‘trade’ deals is demanded rather insistently by Obama and is unlikely to be able to be changed much by anything that America’s negotiating partners might attempt to do to modify them — and that this template strongly favors U.S.-based international corporations over international corporations that are based in other countries.
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