What now for the TPP?
Publish date: Tue, 24 Jan 2017, 01:01 PM
TOKYO: US President Donald Trump has abandoned the Trans-Pacific Partnership, leaving the ambitious trade agreement in limbo. Here are some key questions about the pact which supporters said would write the rules for 21st century commerce:
The Trans-Pacific Partnership is one of the most ambitious free trade pacts ever negotiated.
It brings together some of the diverse economies that abut the Pacific Ocean - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam - and accounts for a whopping 40 percent of the global economy.
Under then-US president Barack Obama it was sold to American allies as a unique opportunity to seize the initiative on worldwide trade - and ensure China, with its surging economy and growing global importance - does not get to dictate the terms.
Supporters say it would scrap barriers to the free flow of goods, services and investment capital.
They claim it would also ensure a level playing field for all firms, protecting labour rights and incorporating important environmental safeguards.
Critics say the TPP was hammered out during secretive meetings in luxury hotels and will do little other than benefit the usual suspects - big businesses.
Trump's insurgent presidential bid was built, in part, on a pledge to overturn the trade deals which many of his supporters blame for lost US jobs.
They say the TPP was another bad deal for America's industrial heartlands, allowing foreign manufacturers and food producers tariff-free access to the US market - meaning US firms and farms, whose production costs are higher, could not compete.
Many leaders invested serious political capital in the TPP, selling it to reluctant electorates as a way to yoke America closer to the like-minded democracies of the Pacific Rim.
One option is for the remaining 11 members to press ahead and get the agreement up and running. Australia said Tuesday it hoped to recast the pact without the US and opened the door for China to sign up.
Another possibility is to reopen negotiations from scratch, which would give Trump the chance to sell an "improved" deal to his electorate.
Trump, however, suggested he would pursue bilateral deals, saying he would be "going back to those countries one-on-one" to find terms more favourable to the United States.
Yes - the Beijing-backed Regional Comprehensive Economic Partnership (RCEP) now being negotiated, which brings together the 10 Southeast Asian countries of ASEAN, as well as China, India, Japan, South Korea, Australia and New Zealand.
Something of a mirror image to TPP, it includes six of the Washington-led grouping's 12 members but not the US, and would encompass more than three billion people.
RCEP is generally seen as less ambitious on issues like employment and environmental protection. --AFP
Discussions
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Friend do not fear Donald loh....!!
Just take note of Trump negative like;
1. America 1st
2. Immigration control
3. No more freebies spending for allies loh....!!
IF U R INVESTOR....U NEED TO TAKE NOTE OF USA 1ST POLICY...OTHER THAN THAT TRUMP IS EXCEPTIONAL GREAT;
ON POSITIVE SIDE;
1, BIG TAX CUT
2. REDUCE REGULATION ON BUSINESS
3. CAPEX SPENDING FOR INFRA
4. CUT WASTAGES
5. BOOST MIDDLE CLASS DISPOSABLE INCOME.
ALL THESE GOOD FOR INVESTOR MAH.....!!
Always remember that trump is a reasonable and intelligent man, u can rely on depend on him to do a good job....just remember the limitation i have highlighted & capitalise on the advantage loh...!!
Do not let idiot like...mammy...discourage u loh...!!
2017-01-25 01:16
In Msia the kampung fellow benefited by voting BN for 60 yrs despite all the short coming of the govt...like corruption & benefit the cronies loh...!!
In USA, all the city fellows & elite benefited by voting USA PRESIDENT who follow the norm....that take care the rich & elite for 90 more than yrs mah...!!
Now the USA citizen middle class, realise it is time to change & not to be forgotten anymore loh....!!
Trump is the gamechanger for new USA loh....!!
2017-01-25 01:28
Abraham Lincoln free slave...alot of people hated him...but he did the right thing loh....!!
Donald care for neglected and forgotten american middle & lower class, that no other modern american president dare to do loh...!!
Trump is as good as Abraham Lincoln loh....!!
2017-01-25 01:30
U must understand these loh....for a democratic and free capitalist economy....usually when it progress or growth...u usually the rich always become richer and richer loh....!!
On the otherhand....even in a faltering economy...the rich always relatively perform very much better than the poor loh...!!
This is bcos the rich have more resources and more dynamic and knowledgeable compare to the middle class & poor loh...!!
To narrow the gap, the middle class and the poor need to upgrade themselves to the rich status thru great entreprenurism and hardwork, but usually only a very small can succeed loh..!!
The other way, is socialism and communism where the govt try to intervene, and to channel more resources and opportunities to the middle class & the poor loh...!!
This is what trump trying to do loh....!!
Even so the american under trump era, still will have same situation of the rich become richer...bcos this is the foundation of american dream mah..!!
2017-01-25 01:33
YES TRUMP...IS VERY INTELLIGENT MAH...BEING A BILLIONAIRE....AND ABLE TO READ USA CITIZEN WANT TO CHANGE, WHERE ALL THE EXPERTS UNABLE TO GAUGE MAH...!!
GOING FWD SO WHAT ?? TRUMP WILL HAVE MORE PROTECTIONISM THRU BUY AND HIRE AMERICA 1ST POLICY LOH...!!
THIS TYPE OF APPROACH NOT THAT HARMFUL LOH...JUST LOOK AT MSIA...IMPLEMENTED BUMI 1ST POLICY FOR OVER 45 YRS....MSIA STILL CAN PERFORM, WHATS MORE USA HAS BIGGER SCOPE & DEPTH LOH...!!
RAIDER SAYS DO NOT FEAR TRUMP LOH....GROWTH AND PROTECTIONISM CAN CO- EXIST ....JUST LIKE MSIA MAH....!!
2017-01-25 01:34
THOSE OPPONENTS OF TRUMP HAVE ULTERIOR MOTIVES & SELF INTEREST LOH....!!
THEY ARE NOT FOR THE OVERALL BENEFIT TO THE AMERICAN SOCIETY MAH..!!
THATS WHY THEY GOT REJECTED BY THE AMERICAN PEOPLE WHO WANT TO CHANGE FOR THE BETTERMENT....!!
BCOS THOSE PEOPLE HAVE GIVEN ENOUGH TIME TO GOVERN, THEY HAVE NOT TAKEN CARE A MAJORITY OF AMERICAN PEOPLE LOH....
THOSE OPPONENTS OF TRUMP HAVE ULTERIOR MOTIVES & SELF INTEREST LOH....!!
THEY ARE NOT FOR THE OVERALL BENEFIT TO THE AMERICAN SOCIETY MAH..!!
THATS WHY THEY GOT REJECTED BY THE AMERICAN PEOPLE WHO WANT TO CHANGE FOR THE BETTERMENT....!!
BCOS THOSE PEOPLE HAVE GIVEN ENOUGH TIME TO GOVERN, THEY HAVE NOT TAKEN CARE A MAJORITY OF AMERICAN PEOPLE LOH....!!
2017-01-25 01:36
raid
The US elections are over...
why are you spewing your nonsense in this forum?
2017-01-25 01:37
Raider reinforce trump is a great man loh....!!
To avoid people slandering him mah...!!
2017-01-25 01:38
raid..you are very irritating.
I cannot help myself only because I cannot tolerate nonsense.
2017-01-25 01:38
raid...I guess your can place Trump in the same category as Hitler ...Hitler too was considered a Great Man for many Germans at one time.
2017-01-25 01:40
As a raider says...u destroy investor confidence loh....!!
Actually what people need to learn about Trump policy loh..!!
LETS LOOK AT TRUMP AMERICA 1ST POLICY
1. BUY AMERICA 1ST...GIVEN A CHOICE PREFER USA OK MAH...!!
2. HIRE AMERICA 1ST...OK MAH...EVEN CHINAMAN ALSO HIRE THEIR OWN RELATIVE WHAT ?
3. DO NOT SIMPLY POKE UR NOSE ON OTHER PEOPLE AFFAIR...LIKE FIGHTING OTHER PEOPLE'S WAR, OK UR WAR U FIGHT LOH.
4. DO NOT SIMPLY SPEND ON OTHER PEOPLE & OTHER COUNTRY....DEMAND THE COUNTERPARTS, TO MAKE FAIR CONTRIBUTION...THIS SHOW USA PRAGMATIC AND NOT WASTING OF RESOURCES LOH...!! VERY POSITIVE LOH...!!
5. PROTECT USA BORDERS....THIS ARE UNIVERSAL OF PROTECTION OF RIGHTS LOH.....!!
6. WAR ON CRIME, DRUGS & TERRORIST....THESE ARE NO GOODS ...MUST ELIMINATE WHAT ?
2017-01-25 01:41
Warren Buffet is still positive about his investments and of America's future not because of Trump but despite Trump, the man....because WB is assured of the fundamental soundness of American institutions.
and we just have to live with that...that is sound advise.
no need for you to spew your nonsense here and irritate better people than you, the raider.
2017-01-25 02:10
George Soros is not so positive.
George Soros is much more negative of a world in which monster Trump is the most powerful man in the world.
2017-01-25 02:12
raider
bottom line is very simple....your inability to judge people is just as bad as your inability to judge stocks.
2017-01-25 11:02
George Soros is not so positive.
George Soros is much more negative of a world in which monster Trump is the most powerful man in the world.
GEORGE SOROS LOSE BILLIONS BET WRONGLY AGST SURE FRUSTRATED LOH..!!
TRUMP IS AN EXCEPTIONAL & EXTRAORDINARY MAN, HE IS LIKE SUPERMAN ABLE TO DO ACHIEVE GREAT SUCCESS DESPITE GREAT ODDS LOH...!!
2017-01-25 11:05
raid
your view is because of who you are......
birds of the same feather flock together.
both you and that Donald Trump are immoral, no morals.
2017-01-25 11:42
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what TPP?
for trade, there is the WTO already
This TPP would have provided more and better employment and environmental protection
2017-01-25 00:46