Monday, May 11, 2015

An Australian Perspective On The Trans-Pacific Partnership

President Obama and supporters in Congress claim that the partnership will increase jobs in the US.  Most of the research on this topic shows that there will be no net gain or loss of jobs in the US.  The real issues involve competition between the US and China over setting the rules for trade in the Pacific Rim;  the partnership also increases the strength of MNC's relative to sovereign nations.   Australia has been hit by both of these issues.  It has to balance itself in the Pacific Rim between the US and China.  That is why it has entered into both of their partnerships.  Australia has also had one of its laws on tobacco packaging reversed by a tobacco company complaint to the the third party mediator who heard the complaint.  The Australian government passed a bill that made cigarette packaging less appealing to consumers because it wanted to protect public health.  The third party mediator found that the rights of the tobacco company overrode the right of the government to protect public health.

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