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The issue with the TPP is that it put the interests of international conglomerates above the ability of sovereign nations to decide what happens within their bo
by infinite8s 10y ago
The issue with the TPP is that it put the interests of international conglomerates above the ability of sovereign nations to decide what happens within their borders (ie an energy company could sue a small country for increasing the gas tax). While free trade is almost universally desirable, it must be balanced against the concentration of power that inevitably accumulates from unfettered capitalism.
- eddieh 10y agoThat's not correct. A company would have been able to sue only if the country was enacting a policy that would allow them to unfairly take advantage of an investor. e.g. if the country made a deal that allowed a factory to be built in their country and then enacted a policy (tax or otherwise) that would force the investor to halt operations in their country for sole the purpose of taking control of the factory. Without that part of the trade deal there would be no stoping a small country from what is essentially stealing from a international company. Before trade deals those types of disputes were usually settled with armed conflict.
- walterbell 10y agoExamples of previous ISDS cases, http://www.isdscorporateattacks.org http://www.isdscorporateattacks.org
- eddieh 10y agoThe few I just read from the link actually sounded pretty reasonable IMO. And that is despite the obvious bias of the website and the charged language.