October 31, 2016
PASS IT FOR THE UR JUST TO SPITE PRESIDENT CLINTON!:
TPP Is Exciting. Let's Make the Case for It. (Tyler Cowen, 10/31/16, Bloomberg View)
So what then is the exciting, big-picture case for TPP? I say it's to keep North America, and especially the U.S., the world's leading economic cluster for the foreseeable future.Think of the global economy as one where some regions do very well -- for example, Silicon Valley or Shanghai -- and other regions languish. The talent, the capital and the most ambitious immigrants want to go to the flourishing places to do business, innovate and create jobs. Overall, the U.S. is the largest and most successful agglomeration of commerce.If the United States is to extend its economic influence, it must draw upon Asian connections, talent and markets as much as possible. After all, the Asian economies in TPP -- Japan, Malaysia, Vietnam, Singapore and Brunei, along with Australia and New Zealand -- are significant in both population and gross domestic product. South Korea, Indonesia, Thailand and the Philippines have signaled a possible intent to join, and perhaps eventually India and Bangladesh as well.There are thus two visions of America's economic future. In one, the U.S. is able to mobilize Asian resources to help maintain its role as world economic leader, to the mutual benefit of most other Pacific nations. In the other, the talents and resources of the TPP nations get pulled in other directions, including toward China, and U.S. economic and geopolitical leadership declines.
Posted by Orrin Judd at October 31, 2016 5:01 PM
