TPP full text finally released [NC] [updated]
After years of negotiating in secret, the actual text of the TPP has been released. The proposed treaty covers 12 nations around the pacific, most prominently US, Japan, and Australia. China is left out, as is Korea. Other similar treaties are in the works covering US-europe (TTIP) and both europe and pacific nations (TISA).
The TPP treaty, widely understood to favor international big business, reduces the power of government to erect barriers to trade for protecting interests of citizens and companies under its protection. The treaty also increases the power of international businesses to erect barriers to trade to block out competition in the form of intellectual property benefits. This combination is generally described as “free trade”, with the caveat that if you are a business or a natural person, it may not specifically be *your* freedom that increases.
The treaty now goes to individual nations’ governments (legislatures) for ratification.
Part of the motivation here is that it will bring the party nations closer together, to counterbalance the power of China. The fear, among developed countries, is that it will result in further WalMart-ization of our world.