Former United States Assistant Secretary of the Treasury for Economic Policy, Dr. Paul Craig Roberts, has recently said that the Trans-Atlantic and Trans-Pacific Partnerships are a 'complete corporate world takeover” in that it overlaps national sovereignty by giving corporations immunity from the laws in the countries where they do business. And he isn't the only one who has been sharing this worry with others, there is a growing number of people around the world who are learning about the dangers of TPP and they are concerned for the impacts of this legislation. One of the most worrisome problems is that it will allow for corporations to sue governments and agencies that try to impose any laws or regulations that would negatively impact or impinge on corporate profits.
“The 'partnerships' set up 'tribunals' [which will be] staffed by corporations that are outside the court systems of the sovereign governments. It is in these corporate tribunals, Dr. Paul Craig Roberts reiterates, that any supposed lawsuits will take place.
One Nobel-winning economist, Joseph Stiglitz, has come out recently and warned that Canada should stay away from the TPP. Stiglitz says that the deal is flawed and benefits big business at the expense of the working class. And he isn't the only one reiterating this warning when it comes to the deal that was negotiated in secret for many years.
“I think what Canada should do is use its influence to begin a renegotiation of TPP to make it an agreement that advances the interests of Canadian citizens and not just the large corporations” said Stiglitz in a recent interview following his speech at the University of Ottawa. He pointed out that the deal was negotiated in secret he says that it was discussed with corporate interests at the table.
Currently, the House of Commons of Canada's Trade Committee is studying the TPP agreement and Trudeau has already signed the agreement; even though he said he might not be committed to it. It is expected that the studying of the newly signed TPP could take up to nine months or more. There are also indications that Canadian representatives will ratify the agreement following the Committee's study of it. As it stands there are currently many citizens and advocacy groups who have warned about the dangers of TPP in that it oversteps national sovereignty for the benefit of corporations. Canadians are still trying to stop the deal by petitioning their representatives to re-think things. The trade agreement has been signed and finalized but it still needs to be ratified by the various countries and it is expected that it will still take well over a year in order for the agreement to come into effect.
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