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Blocking TPP was a disaster. TPP would have achieved everything the Trump administration has failed to achieve with China and has spent tens of billions of doll
by addicted 6y ago
Blocking TPP was a disaster. TPP would have achieved everything the Trump administration has failed to achieve with China and has spent tens of billions of dollars doing so in direct costs (the indirect costs are even higher and will last for decades).
The major complaint about TPP was the IP protections. But the hypocrisy is that the lack of the IP protections is exactly the same people complain about China.
There was absolutely no reason to block TPP, which in a nutshell, gave Chinese neighbors the opportunity to do business that the US was doing in China currently, and in return agree to implement an IP protection environment that everyone agrees China should have but doesn’t.
Besides providing American (and non American) companies with multiple alternatives to China where their IP would not be stolen, it would have built massive American soft power with Chinese neighbors at absolutely no cost to Americans, since the business going to those countries was business being done in China anyways.
- mcv 6y agoTPP also included corporate courts that could force a country to reimburse foreign companies for losses due to changes in democratic laws. That is the big part that many people on HN and elsewhere objected to. But yes, TPP also had its upsides, which is why I prefer a fixed version rather than blocking it completely. The US, by the way, was the biggest proponent of those corporate courts. Sadly the Trump administration lacks the know-how or desire to negotiate that sort of nuance. So while I agree with blocking it in the form it had at the time, I disagree with blocking it completely, which is of course what Trump did.