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Old 07-19-2018, 08:07 AM
Ike Bana Ike Bana is offline
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Join Date: Nov 2013
Posts: 8,310
The death of TPP...

Is anybody paying any attention to this? Are we aware of how long it has taken for this country to place itself in a positive position for trade with Asian nations? Do you know how fast Trump has trashed this and what it means for the future of the US economy and for American workers. This is not something we can fix just by getting this deranged animal out of office. This is screwed up for years...possibly decades...

Quote:
From The Skimm 7/18/18:

The deal's been in the works for years. The EU and Japan reached an agreement about a year ago - a few months after the US pulled out of the Trans-Pacific Partnership (TPP for short: the trade deal for Pacific Rim countries that Japan is also part of). The two trade partners signed on the dotted line yesterday. Now it's up to their parliaments to give it the thumbs up before it can take effect - which could be next year.

Why should I care?

This is being called the largest bilateral trade deal ever - and Japan and the EU produce almost a third of the world's GDP. And both used the opportunity to make some not-so-subtle digs at President Trump.

Why?

Because he's not a fan of trade deals. He pulled the US out of the TPP. He's threatened to ditch NAFTA. And he's been slapping tariffs on everyone from China to the EU. He says this will help US workers by bringing jobs back to the states. Many lawmakers say this will hurt the US economy overall. The IMF says trade wars could cost the world economy billions of dollars.

This was a show of force by Japan and the EU. And their way of telling the US 'we're moving on without you.'
Is anybody paying attention to how bad this is? This country is now cut out of this market in ways we could not have imagined in 2016.

Oh c'mon Ike...NAFTA and TPP were both bad deals...

They were bad deals for some aspects of the American economy and good deals for others. But the fact is that we now have a fully global economy that is never going away. The economies of all countries will be forced to adjust...that's the way it goes...that's the way the world goes. Debate over how bad or how good continues, most of it political in nature. Pulling out of TPP was pure politics. Pulling out of NAFTA is pure politics.

But there is no argument that this situation in the Asian markets is a fucking disaster. We have the strongest economy in the world, but it is not perfect and we cannot dictate to the entire world in this way. Does the Trump base care? Of course not. Do Republican voters in general care? Of course not. My estimate is that somewhere in the neighborhood of 5% of Trump supporters have a clue what TPP is, and maybe half of those morons have any notion of what it's actually all about.

Last edited by Ike Bana; 07-19-2018 at 08:26 AM.
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