30 Jan 2017

The TPP was a stinker for Australia. Why does the Coalition still sing its praise?

The Australian people were sold a pup. And it wasn't a breed anyone would want if they knew its heritage!

The TPP was a stinker for Australia. Negotiated by Labor and Coalition governments for the best part of a decade in secrecy, it delivered almost no benefits and came saddled with a dreaded clause that would deliver foreign companies the power to seek compensation for any decision that might harm their business activities.
In effect, foreign commercial interests were to take precedence over the actions of democratically elected governments.

All up, it would have been a pretty sweet deal for corporate US with the added strategic bonus of keeping China in check — exactly what Mr Trump claims to stand for.
In its original form, the TPP was a bold US play to deliver greater patent rights and protections to American pharmaceutical companies — the kind of changes that are anti-competitive and trade restrictive.
Perhaps it was intended as comic relief. Whatever the reason, immediately after Mr Trump trashed the deal, Australia's Prime Minister Malcolm Turnbull indicated it was still a goer and that maybe, er, China should take America's place

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