Saturday, March 28, 2015

Final stand of a declining Empire?

From Financial Times (some internet search if one does not have a subscription): "The participation of countries in the TPP has less to do with enthusiasm for importing the US economic model than a grudging acceptance that yet more tribute has to be paid in order to retain access to the US market. "
"Australia, for example, seems to have been rather bruised by its experience during the negotiation of the US-Australia trade deal. It conceded a fair amount and was asked to give up more – witness the pressure to rewrite the country’s public healthdrugs purchasing scheme at the behest of American Big Pharma. But it had few of its own demands met, including more access to the ludicrously-rigged US sugar and dairy markets. Australia has been surly about the TPP from the beginning, owing something to its previous experience."
(via Lambert Strether who has more links)
More by Yves Smith at Naked Capitalism

No comments: