By Hunter Wallace
The full text of this monster trade deal is finally out:
“WASHINGTON — The release on Thursday of the full text of President Obama’s trade accord with 11 Pacific Rim nations brought out opponents and supporters and officially opened what may be the last big battle of the president’s tenure: winning congressional approval of the largest regional trade deal in history.
The opposition mainly came from the left, as an array of unions, environmental groups and public advocacy organizations that typically resist global trade agreements registered their dismay. But some businesses, like Ford Motor, also joined the emerging resistance to the Trans-Pacific Partnership …”
The TPP should be killed because it fails to address currency manipulation alone:
“That would be currency manipulation. Very roughly put, it’s when your country uses monetary policies that lower the value of your currency relative to other currencies. That makes your exports to other countries cheaper, and your imports from other countries more expensive, creating a trade surplus for you, and forcing other countries into a trade deficit. …”
That is just the tip of the iceberg.
Indonesia has announced it plans to join the TPP. China has also expressed interest in joining. Wouldn’t it be great if trade with these enormous countries was regulated by unaccountable transnational bureaucracies where the US has the same representation as Brunei? That sounds exactly like what we need to rebuild a strong middle class.