...The Trans-Pacific Partnership Agreement and the U.S. economy Executive Summary -The Trans-Pacific Partnership Agreement is a free trade agreement initiated in 2005 and was joined by the U.S. in 2008 which proposes to liberalize trade in the Asia-Pacific region. -Negotiations are ongoing and held in secret. While the FTA’s existence and meetings are public knowledge, most of the information is classified and kept from U.S. government officials. However, several documents have been leaked to the public through various sources. -There is much clamor and concern over the Intellectual Property proposals put forth by the U.S. These proposals threaten to dial back public health safeguards set forth in the 2007 New Trade Deal of the Bush administration, increase prices of consumer goods, and restrict access to information on the internet. -There are 12 countries involved in negotiations, with China as an observer and considering entry. Overall, these countries make up about 40% of the world GDP and offer access to huge markets for the U.S. Nonetheless, the threat of losing jobs overseas, as with most FTAs, is cause for concern. -Past FTAs have resulted in an increase in U.S. trade deficit and a loss of jobs. However, analysis shows that American firms can benefit from these agreements as well with increased exports to new markets. Brief History The Trans-Pacific Strategic Economic Partnership Agreement is a free trade agreement with the goal of liberalizing the borders...
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...ABSTRACT Trans- Pacific Partnership Agreement (TPPA) is now sound familiar to Malaysia, this is because that countries is one out of the twelve countries that involve in that agreement. The goals of the Trans-Pacific Partnership (TPP), a much-delayed but significant trade agreement between 12 countries in Asia-Pacific and the Americas pushed by the US are increasingly becoming clearer after ongoing talks reveal some of the intentions Washington is pursuing with this pact. The highlighted of the agreement is to increase in import growth is projected to outpace increase in export growth, as the reductions in import tariffs and non-tariff measures (NTM) are larger for Malaysia relative to the other TPPA countries. According to The New York Times, economists are sharply split over the positive and negative effects of TPP, and both "opponents and supporters of the trade accord have quickly seized upon whichever analysis buttressed their own views. ECIPE has said in 2014 that TPP "will be the first ‘competing’ economic integration that is large enough to have a considerable negative impact on Europe. In the long-term, the negative effects will come from dynamic impact, e.g. on investment, productivity and competitiveness". Pascal Lamy called the TPP ‘the last of big old-style trade agreements’. It has said to be a negative impact on the oil and gas sector whose share of GDP is 12 per cent. PETRONAS stands to benefit very little from TPPA as 74 per cent of its exports are to non-TPPA...
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...How are you? I hope your research is going well! I would love to know if you have any updates or any important findings. I hope you recall that during a meeting we had, I mentioned that I am part of a Latin American group on campus. The Latin American Leadership Society is a diverse group of students who are passionate about development in Latin America, connecting future and current Latin American leaders, and enjoy promoting the region's culture and image on campus. On behalf of the Latin American Leadership Society (LLS), I would like to invite you to our Forum taking place on Friday, April 15th from 3 to 5pm in Sutardja Dai Hall. The topic we will be discussing is the Trans-Pacific Partnership (TPP) and its social, economic, political,...
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...International School of Business – University of Economics Ho Chi Minh RESEARCH ESSAY DINH XUAN LOC EAP5 EAP 5 Essay Topic – September 2015 Economy The United Stated, Vietnam, and ten other countries are working together to reach an agreement called the Trans-Pacific Partnership. Once completed, the TPP will boost the economies, lower barriers to trade and investment, increase exports, and create more jobs for the countries involved. To what extent do you agree with the above statement? Refer to specific examples in your answer. The global economy in the twenty first century has changed rapidly with the trend of trade liberalization. The appearance of some high valuable bi- and multilateral agreements might affect strongly trading activities in the future, especially the Trans-Pacific Partnership (TPP) agreement. This free trade agreement (FTA) is one of the most challenging and largest pacts not only for TPP members, but also for the international exchange. Therefore, the purpose of this paper is to ascertain the direct and indirect effect of the TPP agreement to the worldwide trading. In fact, if the TPP is signed by twelve members, it will boost the development of the global economy significantly, as well as might change the exchange policy around the world. The TPP is a comprehensive agreement, so its provisions cover various sectors of national economy, however, with the limitation of time and specialized knowledge, this paper only assess the outcome of the TPP...
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...reached agreement on October 5, 2015), the United States, Japan and ten other countries concluded negotiations on the Trans-Pacific Partnership (TPP). It is the largest regional trade accord in history and one that does not include China-----the TPP is the centerpiece of the U.S “rebalance” to the Asia-Pacific, and its twelve members account for 35 percent of global trade. China appears to currently have enough international economic negotiations on the table to keep it occupied, and it is unlikely that it is really concerned about the TPP. A No China Club China was invited to join the TPP by Hillary Clinton in 2012. While China has long stated that it is willing to consider joining the Trans-Pacific Partnership (TPP), the world’s second-biggest economy was not included in the agreement. From its inception, some have speculated that China would not join the bloc because it is a “high standards agreement,” even speculating that this was put in place to lock China out of the agreement. It is also assumed that the TPP have used specific rules and guidelines to prevent China's involvement, presumably due to its negative impact on the WTO and that the TPP has been considered by many as a strategic instrument to isolate or contain China. Given the country’s ambitions, its leaders are understandably concerned about the concerted effort by the U.S. and other Asia-Pacific countries to curtail its economic growth and geopolitical influence. Now, the geopolitical picture is clear. Linking...
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...PSCI 2750 INTERNATIONAL RELATION DR. TUNKU MOHAR BIN TUNKU MOHD MOKHTAR SECTION 2 SEMESTER 1 2015/2016 “A RESEARCH ON INDONESIA’S INTEREST TOWARDS JOINING TRANS PACIFIC PARTNERSHIP” Prepared By: Muhamad Fadel Wijaya (1221665) Muhamad Fatih Azka (1311515) Ahmad Azzam Al-Qoyyimuddin (1313511) KIRKHS INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA TABLE OF CONTENTS 1st Chapter: Introduction A. Background...............................................................................................................3 B. Importance of the Topic...........................................................................................3 C. Research Question....................................................................................................4 D. Argument and Hypothesis........................................................................................4 2nd Chapter: Theoretical Framework A. Definition of Key Terms............................................................................................5 B. Literature Review......................................................................................................6 C. Collection of Data…………………………………………………………………………………….…..7 3rd Chapter: Case Study………………………………………………………………………………………….8 4th Chapter: Conclusion……………..…………………………………………………………………………11 References…………………………………………………………………………………………………………..12 CHAPTER 1 INTRODUCTION A. BACKGROUND President Joko...
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...Trans Pacific Partnership: A Balanced Approach To Agriculture The Trans Pacific Partnership could be one of the most comprehensive trade agreements that the world has ever seen, opening up new opportunities for all 12 member nations. Many Canadian companies are excited about the deal, and perhaps the most intrigued industry is the Canadian agricultural industry. Some of the most beneficial aspects of the deal for Canada, come to the agricultural industry. In fact, Canada could simply not afford to be out on this deal. Many of Canada’s current trading partners are involved in the TPP, so missing out on such an opportunity could have meant an eroding effect to several Canadian industries. Today, Canada is the fifth largest exporter of agricultural products worldwide, and through this deal, Canadian exports will only rise. The TPP will reduce or eliminate several tariffs on agricultural imports for countries involved in the deal. This will provide countries with an incentive to buy more, now that Canadian products will be relatively cheaper. Gains from the elimination of tariffs, and enhanced market access for Canadian agriculture are especially significant in markets such as Japan. Japans tariff removal on 32% of its agricultural imports, allows Canadian agricultural products to be more feasible for the Japanese market. Considering the article in the Asian Economic Papers Journal, it’s evident that due to the combined operation of the income and substitution...
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...Trans-Pacific Partnership In the present moment, President Obama is anxious to sign apparently on of the biggest trade deals in U.S. history. The name of this agreement is the Trans-Pacific Partnership (TPP). TPP is basically a proposed trade agreement between many Pacific Rim countries concerning a variety of matters of economic policy. This would link 11 countries on the Rim with America. This is extreme because the 12 countries account for 40% of the world GDP and one third of all trade (The Economist). Let alone taking down tariff barriers, the TPP is supposed to tackle things like intellectual property, labor and environmental standards. In my opinion, I would support the Partnership. The reason I would support the Trans-Pacific Partnership because of all of the advantages this deal has to offer. What the TPP does is boost exports and economic growth. As a result, this will create more jobs and prosperity for the 12 countries involved that make up 40% of the GDP. The exports would be focusing mainly on machinery, especially electrical, automotive, plastic, and agricultural industries (US Economy). Trade negotiators have predicted that this deal will make the world richer by it earning $220 billion more a year. This deal will create economic and stronger political ties with Asian allies, and this could help America retain some influence in Asia. This deal can really put the U.S. as one of the dominant leaders. Although this deal has many advantages, it...
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...Melissa, you article is very good and thought provoking, living here in New Mexico the majority of my life I can remember the days of many jobs leaving the US and going to Mexico because of lower wages. The one that stands out the most was when Levi Straus Plant in Roswell, NM move to Mexico and laid off about 567 employees. (LA Times 1997) To run a business you have to look at every possible cost saving, and labor is always am area scrutinized, but the fact that we live in a world that someone in Foreign country can do the same job here in the US at a lower wage is not right. This is where politics and corporate business get involved and lobby to keep wages lower in foreign countries so their companies can make a profit. There have been some...
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...Comprehensive Economic Trade Agreement vs. Trans-Pacific Partnership Which new trade agreement will help Canada grow and prosper its economy better? The Comprehensive Economic Trade Agreement (CETA) or the Trans-Pacific Partnership (TPP). The Canadian Government continues to increase its free trade agreements with growing economies across the globe. These new trade agreements are very controversial and not everyone approves of the new partnerships. In the term paper I will be discussing which trade agreement, CETA or the TPP is more beneficial for the Canadian economy by comparing and contrasting the two agreements. The CETA is a proposed new trade agreement between Canada and the European Union (EU). The CETA still has to be approved by the European Parliament and the European Council. If the approval of the CETA goes through, the CETA is supposed to have a greater economic impact than the North American Free Trade Agreement (NAFTA) between Canada, the United States of America, and Mexico that was implemented on January 1, 1994. Once the CETA is implemented in 2016, it will remove 98% of the tariffs between Canada and the countries representing the European Union. The TPP is another trade agreement consisting twelve nations around the Pacific Rim including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. The trade agreement will allow the twelve nations to access markets with removing tariffs...
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...The global economy is constantly changing due to emerging patterns of financial, trade and human capital flows and their effects on national economics, the relationship between economic, political and social outcomes along with the interaction of nations through multilateral agreements. This paper explores the types and levels of economic integration and in particular the integration of the US with other markets. Focusing on trade through the NAFTA, the advantages that TPP and T-TIP could offer and the beginning of a fruitful partnership with Africa through the AGOA. Economic integration is an arrangement between different regions marked by a reduction or elimination of trade barriers and coordination of monetary and fiscal policies. There are various economic and political reasons as to why nations would want to pursue economic integration. Removing trade barriers comes with costs and benefits, depending on the degree of integration and the level of cooperation between member regions. Integration is believed to lead to lower prices for consumers and producers, thus causing the volume of trade to increase. However for nations outside integration agreements, barriers to trade can be created, as they may not be able to compete with preferred trading partners. When economies are strong, integration has benefits for all the members and each union can experience certain economic growth. The same holds true of economic downturns, if one member of a trade agreement begins to...
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...Thomson, M. (2013). Trade partnership competition: TPP vs RCEP. The Strategist. http://www.aspistrategist.org.au/trade-partnership-competition-tpp-vs-rcep/ Yu, W. (2013). TPP Talks Show Promise for US Asia Strategy—With or Without China. The Diplomat. http://thediplomat.com/pacific-money/2013/08/02/ tpp-talks-show-promise-for-us-asia-strategy-with-or-without-china/ ANU, S. A. (2011). China’s participation in the Trans-Pacific Partnership . East Asia Forum. http://www.eastasiaforum.org/2011/12/11/china-participation-in-the-trans- pacific-partnership/ UI, B. P. (2012). Will RCEP compete with the TPP?. East Asia Forum. http://www.eastasiaforum.org/2012/11/28/will-rcep-compete-with-the-tpp/ Ponnudurai, P. (2013). China vs. US in Proxy Trade Battle. Radio Free Asia. http://www.rfa.org/english/commentaries/east-asia-beat/tpp-02052013221256.html U.S. is becoming the global leader and is now dominating TPP. Nowadays, U.S. wants to combine with countries that involved TPP to put pressure on other agreements or on the other countries that are not involved, both strategic dimension and economic dimension. In this paper, I will briefly discuss with TPP versus RCEP and TPP versus China. the tpp is foucs on the preferential trade agreement with few exemptions and extensive regulatory alignment, in the area such as labor law, environmental protection and intellectual property rights. RCEP stands for the Regional Comprehensive Economic Partnership. This is a newly proposed...
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...a new regional comprehensive economic partnership called RCEP. The concept is this: to engage 16 Asia Pacific nations for free trade and to establish a trilateral free trade agreement with China and South Korea. Negotiations in this landmark free trade pact are taking place now in Phnom Pehn following the ASEAN Summit. If or once it is formed the RCEP is likely to cover half of the world’s population and would be the largest regional trading arrangement in the world to date. The RCEP is a strategy aimed at maintaining regional growth by ensuring that markets of the participating countries remain open and competitive. It is estimated that Japan’s GDP will grow by 1.1 percent with a wide range of partnership frameworks: tariff reductions and intellectual property protection. Under RCEP, which is different from individual country to country rules, there is a unification of rules and simpler business transaction procedures. The potential free trade agreements between ASEAN and China, Japan, South Korea, India, Australia and New Zealand could eventually lead to the creation of an integrated market that spans 16 countries with a combined market population of more than 3 billion people and a combined GDP of about US$19.78 trillion based on 2011 figures. The barriers are the economic gap between the 16 potential members: GDP $67,000 - $804 and differences in economic activity. The US-led TPP which stands for Trans-Pacific Partnership, On November 12, 2011, the Leaders of...
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...The Trans-Pacific Partnership (TPP) is an international trade agreement that is aimed creating an Asian-Pacific free trade area. The TPP arises from the Trans-Pacific Strategic Economic Partnership Agreement that was reached in 2006 by only four countries. Australia joined the TPP in 2008. One of the main reasons behind Australia’s interest in the agreement an estimated 70 per cent of country’s trade flows through this region . Currently, the accord is being negotiated by 12 Pacific Rim countries including Australia, the United States, Canada, Brunei, Chile, Malaysia, Japan, Mexico, Peru, New Zealand, Peru, Vietnam and Singapore. Once the agreement is finalized each member will have to harmonize the relevant regulations according to conventional TPP standards. The conclusion of the TPP is also expected to integrate the Australian economy into the wider Pacific region where the country will benefit from the substantial removal of tariffs and non-tariff barriers. Although the TPP is referred to as a free trade agreement, it is not exclusively about the trade. In fact, trade is only covered under five chapters out of a sum of 29 chapters. Two decades ago, the idea of incorporating labour standards in trade agreements was considered a far-fetched thought . The TPP is a peculiar transnational accord since, integrates labour standards as part of the commitments to be followed by each country. Essentially, the agreement seeks to provide a new benchmark that will enhance the benefits...
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...Our party wants to decriminalize marijuana. I know our pamphlet says “legalize marijuana” but we realize that legalizing may be too big of a step. Marijuana is also expensive for the government. We spend billions of dollars annually for enforcement of drug laws and legal fees. If we decriminalized marijuana, we would be saving billions of dollars. That would mean if you were in possession of marijuana, you wouldn’t be arrested. The Trans-Pacific partnership is a free trade amongst twelve countries. The Trans-Pacific partnership is a terrible idea because in order to have this trade agreement, tariffs will have to be lowered and the government will be losing money. Do you want your midnight “web surfing” to be observed? The TPP allows internet...
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