14 March 2015

TPP: What's in it for Australia?

Still trying to get a handle on the notoriously secretive TPP. The whole thing is huge and indigestible, but here's a manageable takeaway:

An Australian National University study of the US-Australia Free Trade Agreement found there was very little in it for Australia. A recent US department of agriculture study found it would deliver a zero economic benefit to Australia and a zero economic benefit to the United States. For smaller nations the economic benefits are bigger which may explain why they are eager to join and why the US is driving a hard bargain on intellectual property and the rights of its pharmaceutical industry.

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