Abstract
Abstract On January 23, 2017, right after assuming presidency, US President Donald Trump did good on his promise and signed the executive order that withdrew USA from the very agreement that it commenced the negotiations for: Trans Pacific Partnership (TPP). The unratified multinational trade agreement encompassed 12 countries which accounted for %40 of the world’s GDP and over 800 million people. On a broader scope, TPP is often affiliated with two other trade deals; Transatlantic Trade and Investment Partnership (TTIP) and Trade in Services Agreement (TiSA) both of which in terms of content resemble a lot that of TPP. Given the fact that TTIP and TiSA are not complete and not entirely disclosed with the public, we shall be exclusively focusing on TPP. TPP has been subject to many controversies. But particularly the notion that TPP would enable corporations to sue governments in private arbitration tribunals over lost profits has drawn much attention. In this article we shall be investigating whether there is some truth to these allegations. Providing reference from the articles of the agreement, we shall be discussing the qualities of TPP’s judicial reforms. But firstly, in order to introduce the reader to the subject; we will be providing with some context, to properly frame the subject, and with some information about the nature of these agreements. Secondly, we shall be addressing our main issue. In addition, we will be questioning the framework within which the agreements are officially presented. Finally, a conclusion that compromises the author’s assessment of the case will be provided.
Highlights
When Alfred Mahan first suggested his ideas of maritime supremacy, it was a different world
Former assistant secretary of treasury Paul Craig Roberts has said on Trans Pacific Partnership (TPP) and Trade and Investment Partnership (TTIP): ‘’They are not trade agreements
In an economic system where the private sector constitutes the majority of the economy, it is logical for a trade agreement to favor the interests of private sector over the interests of public sector, in order to boost trade
Summary
When Alfred Mahan first suggested his ideas of maritime supremacy, it was a different world. The government of Philippines, a critical US ally in the region went as far openly announcing a ‘’Pivot to China’’ of their own It seemed like US was openly repositioning itself as an anti-China party and beginning to pursue ways of confinement. Trade in Services Agreement is a trade treaty between Australia, Canada, Chile, Hong Kong, Iceland, Israel, Japan, South Korea, Liechtenstein, New Zealand Norway, Switzerland, Taiwan, USA, European Union, Paraguay, Pakistan, Turkey, Peru, Panama, Mexico, Mauritius, Costa Rica, and Colombia. It is by far the most far reaching one among all TTT’s6. The article further enables representatives of enterprises to submit to arbitration, on behalf of their enterprises
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