Comments by "Kristopher Driver" (@paxdriver) on "Al Jazeera English"
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cnccarving lol (dictionary comment) sorry, cheap jab, i admit :P
Trade deals only work when a nation specializes in something because they have access to the raw resources. American law makers are career politicians, not economists. And economists are learning from and following deprecated metrics (as evidenced by the FED's complete and total lack of ability to forecast even a week or two down the road).
America makes trade deals to realize the most profit, because they measure wealth and productivity as measured from GDP. They don't account for purchasing power or the labor market's needs when making trade agreements. America doesn't set out to make bad deals, they're just really near sighted. They see the profit and benefit from the top stratum of the market, and neglect the causal effects it has on the public at large.
Example, Canada has lots of trees. If America needs lumber, they can benefit from a trade deal with Canada. What happened? America renegged on the trade deal after they realized how many people they put out of work, and the costs associated with buying from Canada and found that having the jobs locally or imposing a tariff was the only way to look out for their own interests. It's incompetence that makes these trade deals not work for America.
TPP is different in that it exposes taxpayers to corporate lawsuits for environmental protection or other progressive initiatives. Ergo, TPP is not your run of the mill trade deal, and NAFTA didn't work because politicians that set it up didn't look past the clear cost savings to see the impact on the rest of the population.
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