The Problematic Partnership Of The Trans Pacific...

The Problematic Partnership Brewing since 2006, a revolutionary free trade agreement has been held under discussion by twelve of the Pacific Rim countries, including the United States, Chile, and Australia (Friel, Sharon, Gleeson, Thow, Labonte, Stuckler, Kay, and Snowdon 1). This agreement is known as the Trans-Pacific Partnership (TPP), and while it shows potential to be a decisive economic deal, there exist outstanding issues. Of these issues are unjust intellectual rights laws, hindrance of the advancement of affordable medicine, and possible harm with U.S.-China relations. Until issues like these are solved this partnership poses to be a burden and should not be approved. As mentioned earlier, the TPP is a major potential free trade agreement between twelve of the Pacific Rim countries. The countries are Australia, Canada, Japan, Malaysia, Mexico, Peru, The United States, Vietnam, Brunei, Chile, New Zealand, and Singapore (Freil, Sharon, Gleeson, Thow, Labonte, Stuckler, Kay, and Snowdon 1). Interestingly enough, this agreement is the technical successor to the P4 agreement that was initialised in 2006 (Elms 29). This agreement was held between Chile, Brunei, New Zealand, and Singapore. In 2008 the U.S. showed large interest in joining this agreement giving spark to a new agreement that has enticed other Pacific Rim countries (Elms 29). Taking charge of this new agreement the U.S. has laid down most of the TPP s foundation to create an agreement that should allow for aShow MoreRelatedTrans Pacific Partnership : A Multilateral Free Trade Agreement1958 Words   |  8 Pagesthe Trans-Pacific Partnership (Greenburg, par. 4). The United States will suppos edly lose sovereignty and it will hurt jobs and economy by including China in the Trans-Pacific Partnership. However, the partnership involving China will improve both countries relations and economies tremendously and willcreate many more jobs. Therefore, the United States needs to invite China into the Trans-Pacific Partnership. The Trans-Pacific Partnership, also known as the Trans-Pacific Strategic Partnership AgreementRead MoreThe Trans Pacific Partnership ( Tpp ) Is A Multilateral Free Trade Agreement Essay1507 Words   |  7 PagesThe Trans-Pacific Partnership (TPP) is a multilateral free trade agreement that aims to facilitate economic integration among its twelve member states. Scholars Capling and Ravenhill describe the agreement as â€Å"transregional† since it unites various states from five distinct regions: Oceania, North America, East Asia, Southeast Asia, and Latin America. After eight years of negotiations, the TPP was signed on February 4, 2016 but has yet to be ratified and implemented by its signatories. BesidesRead MoreMultilateral Trade: A Burden On Economic Freedom Or An1355 Words   |  6 Pagesagreements that have led to a global economic change; NAFTA, TPP and GATT. To start off with, North American Free Trade Agreement (NAFTA) is one of the most prominent multilateral trade agreements, it was an agreement to open trade between; U.S., Mexico and Canada. The overall goal of the trade agreement was to eliminate barriers on trade investment between the three countries, therefore, creating a more economic friendly partnership. The World Trade Organization has concluded, â€Å"Trade between theRead MoreThe World s Biggest Financial Regulation Essay1896 Words   |  8 Pagesreaching out to its Asian allies through the Trans-Pacific Partnership (TPP), a free trade agreement that aims to lift tariffs and expand trade relationships between nations accounting for 40% of global trade, in hopes of consolidating its security interests in the world s fastest-growing region. 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According to officials â€Å"The cleanup is ongoing and has been problematic, with power failures and leaks of contaminated water.† (Kuhn, 2014) So the problem did not go away, the media simply stopped reporting it so the public followed suit and stopped talking about it. Another example of this same behavior is when theRead MoreEconomic, Territorial, And Asean Implications Of India s Act East Policy Essay1938 Words   |  8 Pagesthat are set to dominate trade in both Southeast Asia and the Asia-Pacific regions for years to come. Traditionally, ASEAN trade agreements are very different from United Statesâ€℠¢ style free trade agreements (FTA). Marked by constructs that allow for special and differential treatment of signatories, ASEAN trade agreements are less about free trade and more about weighing benefits and concessions. 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