October 28, 2018

THE HIGH COST OF RACIAL HYGIENE:

The huge new Pacific trade deal is about to kick off without the US (Dan Kopf, 10/28/18, Quartz)

The other eleven countries in the deal, which also includes Brunei, Chile, Malaysia, Peru and Vietnam, were undeterred by the US's withdrawal from TPP. Even without the US, the new pact will be among the largest multilateral trade deals ever enacted (paywall). The CPTPP countries include 14% of world GDP. Beyond just lowering trade barriers between the countries, the deal also includes greater protection of intellectual property rights--a part of the deal the US fought for--and provisions to increase minimum labor standards for workers in participating countries. [...]

The non-profit Peterson Institute for Economics estimates that the total GDP of participating countries will increase by about 1.7%, with the largest gains for Vietnam and Peru. They also estimate that, overall, the US will be worse off due to the deal because US exports will now be less competitive in CPTPP nations.

Posted by at October 28, 2018 6:33 PM

  

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