Of Course Trade Is Good Fran.
If there is one thing that unsettles about the presidential election in the United States, it is the resurgence of anti-trade rhetoric.
Republican Donald Trump was quick to leverage anti-globalisation sentiment to garner votes by demonising the Trans-Pacific Partnership (TPP).
But when Democrat Hillary Clinton – who formerly championed TPP while US Secretary of State – performed her own pirouette, this led the proposition that the world could be heading towards a more insular age.
“People seem to forget the reason the Great Depression lasted so long as it did and was as bad as it was, was largely because of the ‘Smoot Hawley’ Tariff Act which put up trade barriers among nations. I think it is really important to speak out.
I have said to customers, ‘We have to be out there explaining to people that trade is good. Trade is important. Globalisation is really important for everybody’s benefit, not just for individual companies’.” – Westpac chief executive Brian Hartzer
Nobody in their right mind is saying that trade is bad. Don’t be idiotic. Humans have been trading forever. If the Trans Pacific ‘Partnership’ was purely about trade there would perhaps only be a few eccentrics protesting against it. The TPP is fundamentally about handing market control in this region over to American multinational corporations for the immediate benefit of their shareholders. It is not about ‘Free Trade’ at all, it’s about exactly the opposite: market control.
Scrap the ISDS clauses, boot America out of the pact. Then we could possibly have something like a fair and equitable trade pact.