Trans Pacific Partnership deal: Corporations, not nations, call the shots ~ LARRY RUBIN, PEOPLE’S WORLD, Nov 16 2015.
WASHINGTON – One thing has become clear to worker advocates analyzing the proposed Trans Pacific Partnership (TPP) trade agreement: if it is enacted as written, it will give corporations and banks a way to undermine or ignore any and all regulations member nations have put in place to protect consumers and workers.
Under the version of the TPP being promoted by the White House, if investors somehow feel that their “expectations” for profit levels are threatened by a signatory nation’s regulations or laws, they could go to an Investor-State Dispute Settlement (ISDS) tribunal. The decisions of the tribunal would supersede national laws and could not be appealed.
Through ISDS systems currently being used to enforce trade agreements, corporations have the same power as sovereign governments. Representatives of corporations come…
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