Tag: Free Trade

Changing environment

Switzerland (CK) – Among the diplomats, corporate titans, politicians and celebrities circulating at the World Economic Forum in Davos this year will be a fresh face: Chinese President Xi Jinping. It is no accident that 2017 marks the first year that…

AFTER DEATH OF TPP, CHINA MAKES MOVES TO DOMINATE ASIA WITH NEW TRADE PACTS

For all the horrible chapters and faults of the Trans Pacific Partnership (TPP), it seems President Obama was right about one thing – without the trade pact, southeast Asian countries are now looking to China for economic opportunity.

This past week at the Asia-Pacific Economic Cooperation (APEC) summit in Peru, Barrack Obama spent his time addressing the representatives assuring them that the United States and the southeast Asian countries would continue to find a way to cooperate economically. Yet despite Obama’s optimism, the real winner that seems to be emerging from the summit is China.

Obama’s TPP Would Widen the Divide

A Mexican fair trade activist offers lessons from the North American Free Trade Agreement about the likely impacts of the Trans-Pacific deal on inequality.

After the November election, all eyes will be on President Obama to see if he will follow through on his vow to push for a vote during a lame-duck session of Congress on the wildly unpopular Trans-Pacific Partnership.

In a previous interview with Inequality.org, AFL-CIO deputy chief of staff Thea Lee explained why the U.S. labor movement strongly opposes the trade pact. She described the TPP as yet one more deal that would put downward pressure on U.S. labor conditions by further opening up the U.S. market and giving additional protections for U.S. corporations looking to move jobs offshore. Lee has been a leader in building international solidarity against such corporate-driven trade agreements.

What Can We Expect to See After the Brexit?

On 23 June 2016, the United Kingdom held a referendum on whether the nation should leave the European Union. This historic vote resulted in an unexpected victory for the Leave side, giving the government a mandate to start negotiations to leave the EU. Immediately following this news, financial markets and the Pound Sterling plummeted causing financial chaos around the globe. This reaction demonstrates that the international community is fearful about the impacts of a Brexit. As a result, it is worth exploring the impacts that it is likely to have.

The campaign season leading up to Brexit referendum was arduous and marred by deliberate misinformation, xenophobia, and nativism. After this campaign, the referendum resulted in an unexpected victory for the Leave side, which won 52% of the vote. However, this referendum, which was not legally binding, does not automatically withdraw the UK from the European Union. In order to withdraw, the UK will need a majority vote in Parliament to repeal the web of legislation that allowed the UK to accede to the EU. In addition, the UK will need to invoke Article 50 of the Lisbon Treaty to formally withdraw from the EU. Once Article 50 is invoked the UK will have two years to negotiate the terms of its departure.