In a step backwards from the degree of transparency exhibited by the Bush administration, the Obama administration has refused repeated calls from members of Congress and civil society organizations to release TPP texts.
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This secrecy limits the utility of the public hearings and stakeholder events that Froman touts, as it is difficult to opine on a text you are prohibited from seeing. The U. Department of Labor has certified under one narrow program more than , specific U. According to the U.
Bureau of Labor Statistics, about three out of every five displaced manufacturing workers who were rehired in experienced a wage reduction. About one out of every three displaced manufacturing workers took a pay cut of greater than 20 percent.
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As increasing numbers of American workers, displaced from better-paying jobs by current trade policies, have joined the glut of workers competing for non-offshoreable jobs in retail, hospitality and healthcare, real wages have actually been declining in these growing sectors. A litany of studies has produced an academic consensus that such trade dynamics have contributed to the historic increase in U.
The year before that, they grew by 2 percent. Froman ironically uses this export growth drop-off to argue for more-of-the-same trade policy e. Overall, growth of U. Of the TPP countries with which we do not already have an FTA, all but one are actually growing more slowly than the per capita growth rate of the East Asian and Pacific region overall. Yes, U. In , the total volume of U. Existing FTAs have contributed to the imbalanced food trade. The average annual U. Smaller-scale U. About , small U. When candidate Obama said in that he would renegotiate NAFTA — a pact that had become broadly unpopular for incentivizing the offshoring of U.
And though Froman touts the May 10 deal as an improvement over NAFTA for labor rights, a recent government report has shown the May 10 provisions to be ineffective at curbing labor abuses in FTA partner countries. A November report from the U. Government Accountability Office found broad labor rights violations across all five surveyed FTA partner countries , regardless of whether or not the FTA included the labor provisions of the vaunted May 10 deal, including unionist murders in Colombia and impunity for union-busting in Peru.
Vietnam, meanwhile, outright bans independent unions. Why would incorporation of the same terms that have failed to curb labor abuses in existing FTAs be expected to end the systematic labor rights abuses of TPP partners?
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FTAs to attack a moratorium on fracking, renewable energy programs, and requirements to clean up oil pollution and industrial toxins. Tribunals comprised of three private attorneys have already ordered taxpayers to pay hundreds of millions to foreign firms for such safeguards, arguing that they violate sweeping FTA-granted investor privileges that the TPP would expand.
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The stories you care about, right at your fingertips. Get Truthout delivered to your inbox every day:. To donate by check, phone, bitcoin, or other method, see our More Ways to Give page. Any amount helps. Please do what you can. It may happen, it may not. In my experience, an individual investing on the basis of a story is almost never an isolated event.
Those who like stories really love them. When they go wrong with a story fund, they conclude that there was something wrong with that particular story. Actually, they should be doubting the very idea of story-driven investment choices. Diversified maybe I should say story less funds with a good track record are always a better choice because they are a superset of all those storytelling funds. Maybe some stories make genuinely good at some point. In the past two-three decades, from tech to pharma to infra to consumer goods to banks, a time has come for every story.
Surely not. Your job is to choose between them and then to keep an eye on them, something which is easily done on mutual fund websites.
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