Sunday, April 26, 2015
TPP: a double-edged sword
Obama is going to sign TPP (Trans-Pacific Partnership) with the HELP from Congress. Ten days ago, Congressional leaders granted him "Trade Promotion Authority" which allows Obama administration to negotiate a deal and then submit it to Congress for a yes-or-no vote, without any amendments. TPP is expected to increase the average household income but, in the same breath, increase the unemployment rate for workers with lesser skill. This cruel consequence is inevitable when globalization prevails. http://www.economist.com/news/united-states/21649613-america-inches-towards-big-trade-deal-asia-barack-obama-faces-showdown
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