Category Archives: Globalization

Countries Rejecting Trade Deal Provisions that Let Investors Override National Regulation

This is a welcome bit of good news. Countries are finally standing up for the rule of law over rule by multinational corporation.

New Study Shows Dangers of Trade Agreements that Help Corporations Sue Governments

As the Obama administration negotiates new trade agreements with European and Pacific nations, a battle has emerged over the agreements’ egregious rules that grant giant corporations unreasonable powers to subvert democracy. These rules, dubbed “investor rights” by the corporations, allow firms to sue governments over actions—including public interest regulations—that reduce the value of their investments.

Oxfam, the Institute for Policy Studies, and four other non-profits are releasing a new study that explains why these rules are so dangerous to democracy and the environment. We are among the co-authors of this study, titled “Debunking Eight Falsehoods by Pacific Rim Mining/OceanaGold in El Salvador.” The report offers a powerful case study of everything that is wrong with this corporate assault on democracy.

The TPP Tries to Put a “No Exit” Sign on America’s Crapified Health Care System by Allowing Medical Procedures to be Patented World-wide

Under TPP, patent trolls will do for medical care, world-wide, what they’ve done for the software industry: Increase costs and cream off profits.

Trans-Pacific Partnership Reveals Deadly Cost of American Patents

How debates over the TPP overseas show how extortionate the US pharmaceuticals regime really is.

Even the Chinese Can Tell the TransPacific Partnership is Unlikely to Get Done

You know it’s bad when parties who aren’t at the negotiating table can tell a deal is going pear-shaped.

Is Japan Playing Ball with the US on the TransPacific Partnership?

Earlier this week, the Nikkei Asian Review published At odds with US, Japan reaches out to other TPP partners. The title would lead you to believe Japan is working with other countries to strengthen opposition to the toxic, mislabeled trade deal known as the TransPacific Partnership.

The text of the article suggests otherwise, that Japan’s prime minister Abe will feel compelled to offer some concessions when Obama visits next month. On the surface, that would represent a significant shift.

Matt Stoller: The Hippie Peaceniks Behind Corporate Global Trade Agreements

Yves here. Among other things, this post shows what passes for analysis among elite technocrats.

Don Quijones: Corporate Colonialism – Winners and Losers of Global ‘Free’ Trade

I think of globalisation as a light which shines brighter and brighter on a few people, and the rest are in darkness, wiped out

Wage Shares Fall in the US, Germany and Many Other Countries While Financial Shocks Hit Emerging Economies

ves here. This Real News Network interview with Yilmaz Akyuz, formerly the Director of the Division on Globalization and Development Strategies at the United Nations Conference on Trade and Development (UNCTAD), describes how the problems that produced the financial crisis have morphed into new, no less troubling problems. One key part of this discussion focuses on how China has adapted to its considerably smaller trade surplus, and why having Germany as the new excessive exporter poses new perils to the global economy.

Matt Stoller: “Free Trade” Pacts Were Always About Weakening Nation-States to Promote Rule by Multinationals

Yves here. I hope those of you who are in countries being browbeaten to sign the Trans-Pacific Partnership or the TransAtlantic Trade and Investment Partnership will circulate this post widely.

Obama Lame Duck Watch: Pelosi Puts Another Nail in Toxic Trade Deal Coffin, Says She Opposes Giving Administration “Fast Track” Authority

Obama now has another hurdle to overcome if he is to get his toxic trade deals, the TransPacific Partnership and the TransAtlantic Trade and Investment Partnership, passed in time for him to take credit for handing the keys to America over to multinational corporations and turning out the lights.

Governments and Activists are Fighting the Corporate “Right” to Sue Governments

This post contains several troubling examples of how investors have used provisions in existing trade deals to attack the laws of nations that attempt to enforce environmental, labor, and consumer protections, or simply discipline bad-faith behavior.

US Sours on its Own Secretive Trade Shocker

As anticipated, citizens in the nations that the US has been pressuring to join the toxic TransPacific partnership are taking note of stiffening opposition here.

Former IMF Chief Economist, Now India’s Central Bank Governor Rajan Takes Shot at Bernanke’s Destabilizing Policies

As Bernanke is about to take leave of office, attacks on his policies are becoming louder, thanks to financial markets turmoil resulting from the Bernanke/Geithner approach to the crisis: do whatever it takes to restore as much of status quo ante as possible. The problem, of course, is that status quo ante is what got us in this mess in the first place.