from Kevin P. Gallagher
Early on in his term, US President Barack Obama pledged that the Trans-Pacific Partnership Agreement (TPP) would be a 21st Century trade treaty. This week a copy of the proposed investment chapter of the deal was leaked, only to reveal that the US still remains behind the times.
In these turbulent economic times for the world economy, what is among the most egregious aspects of the US proposal is that it would limit the ability of TPP members to regulate global finance. Yet emerging market negotiating partners have proposed bold alternatives that are a big step in the right direction.
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