Trans-Pacific Partnership (TPP) Signed in New Zealand amid Mass Protests

international | economics and finance | other press Wednesday February 10, 2016 23:36 by T

With TPP push through pressure is now on the EU-USA TTIP corporate power grab agreement

The undemocratic anti people TTIP agreement between EU-USA has it's counter part in the Pacific region and it is called the Trans-Pacific Partnership (TPP) which is equally as bad. The purpose of the two agreements is to permanently push back democracy and sovereign rights of peoples of huge areas of the world. It is the ultimate global corporate power grab.

Regrettably the TPP was signed by representatives from 12 countries on Feb 4th and on the same day tens of thousands of people protested throughout New Zealand against the formal signing. The signing follows years of secret negotiations between the US, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

Approximately 20,000 people marched through Queen Street and thousands rallied outside the SkyCity Casino in Auckland where the deal was signed. Protesters held placards and chanted slogans denouncing the TPP as a power-grab by US-based multinational corporations.

A section of the NZ, Wellington protest. Src wsws.org

In a report from WSWS on the protest it explains the context of the TPP which is actually almost identical to the pending TTIP agreement which must be stopped but in this country is being vigorously pursued by the main political parties and in particular FG who are cheerleaders for one of the worst aspects of it, which is these nvestor-state dispute settlement (ISDS) tribunals.

Here's some key passages from the WSWS report.

The rallies reflected widespread opposition to the TPP in the working class. The agreement will strengthen multinational corporations throughout the Asia-Pacific region, giving them greater power to outsource jobs and attack workers’ conditions. A study published last month by Tufts University researchers estimates that intensified competition under the TPP could cost 450,000 US jobs, 75,000 Japanese jobs, 58,000 Canadian jobs and 5,000 New Zealand jobs by 2025.

Under the TPP, companies will be able to sue governments in special investor-state dispute settlement (ISDS) tribunals, if legislation cuts into their profits. Protesters in New Zealand denounced the ISDS clauses as an attack on democracy and a means for corporations to dictate the elimination of environmental and health regulations.

Many told reporters that they were concerned the cost of medicines will increase due to stronger patent protections for pharmaceutical companies under the TPP. The agreement will also strengthen intellectual property and copyright laws, potentially restricting access to information and entertainment.

Anti-TPP protests in Chile, Peru and Malaysia in recent weeks have also attracted thousands of people. In Lima and Santiago, protesters have highlighted that the TPP will increase the power of US-based agricultural giant Monsanto to impose patents on seeds and drive up food prices and costs for local farmers.

The TPP is not a “free trade” agreement. It will create a trade and investment bloc dominated by the US and its main regional ally Japan—the world’s first and third largest economies—covering 40 percent of the global economy.

The deal is the economic front of Washington’s strategic “pivot to Asia,” aimed at rolling back China’s economic influence in the Asia-Pacific region. As Barack Obama put it, the TPP will allow “America—and not countries like China—to write the rules of the road in the 21st century.” The agreement goes hand-in-hand with the US military encirclement and preparations for war against China, which has involved strengthening military alliances with countries including Japan, Australia, South Korea and New Zealand.

The TPP will only come into force when enabling legislation is passed by each member country. It is unclear when the deal will be passed by the US Congress. If it is not voted on by July, then its ratification will likely be delayed until after the new president takes office next year. The decision to push ahead with the signing reflects Washington’s determination to ram through the deal regardless of opposition within the US.