Joe Stiglitz has another entry in his catalogue of why the TPP is bad for us. His fundamental point is that it benefits corporations by weakening regulations and does nothing for the middle and working classes.
He cites a couple of examples as to how corporations can use the agreement against us. One example is a current case in which Philip Morris has sued Uruguay, claiming that its antismoking regulations unfairly hurt profits, violating a bilateral trade treaty between Switzerland and Uruguay. A second possibility is where an American corporation creates a subsidiary in some Pacific Rim country, invest in the United States through that subsidiary, and then takes action against the United States government — getting rights as a “foreign” company that they would not have had as an American company.
Again, why is Obama for the TPP?
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