Under TPP rules, signatory countries would be obliged to conform their domestic policies, laws and regulations in accordance with the agreement. Any constitutional protection afforded by national laws would be wiped out to give way for greater corporate control.
Privatisation and diminishing state regulation
Based on the leaked drafts, it would also appear that one of TPP's key objectives is to diminish the state's role in national development. Under the guise of 'regulatory co-operation', enormous pressure is coming from big US businesses that want to 'level the playing field' between the private sector and state-owned enterprises (SOEs), citing the unfair advantage given to the latter.
SOEs play an important role in providing public goods to citizens at a cheaper price -- all because of the preferential treatment and subsidy provided by the government. By regulating SOEs to comply with open market standards, procurement rounds would be overrun by big foreign corporations that can freely dictate prices for consumer goods and services. In addition, social services that are deemed non-profitable would be eliminated. Ultimately under TPP conditions, SOEs will be privatized and its structure will be overhauled to align itself with commercial objectives, effectively subsuming any prior commitment to provide public service.
Intellectual Property Rights (IPR) and its impact on health, farming and internet freedom
Perhaps one of the most dangerous elements of the TPP is the section on IPR rules that contain far-reaching implications across sectors. For farmers, this would entail restrictions in the use of seeds that have patented materials. IPR rules will also extend medicine patent rights for up to 25 years, enabling big pharmaceutical companies to monopolize the drug market and keep charging high prices without generic competition. Lastly, the TPP provision on data privacy will severely limit internet freedom by compelling internet service providers to spy on user activity, and cut user access to common-generated content such as YouTube among others.
APEC Manila: A prelude for things to come
The APEC Ministerial meetings scheduled in Manila for 18-19 November come as an opportune moment for the US and its cohorts to celebrate their recent victory with the signing of the largest single FTA concluded worldwide for more than a decade. With the TPP now in place and, more importantly, open to new members, APEC Manila is expected to serve as a victory lap that aims to encourage other APEC member countries to join this emerging trade pact. In effect, it becomes a prelude to cement a larger (or even an APEC-wide) trade deal that serves the interests of US and its corporations.
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