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Trans Pacific Free Trade Agreement

It started with the P4 trade agreement between only four nations – Brunei, Chile, New Zealand and Singapore – which came into force in 2006. According to analyst and economist B.R. Williams, the United States plays an important role in removing trade barriers and increasing U.S. investment. Williams says the U.S. wants to create a “broader platform for trade liberalization, particularly across the Asia-Pacific region.” [175] Scholars C. Li and J. Whalley explore a numerical approach to explaining the liberal effects of the TPP. Li and Whalley use a quantitative balance simulation to study the impact of the TPP on trade liberalization and new markets. [176] There were conflicting arguments as to whether or not the TPP would like to strengthen trade liberalization. For the arguments suggesting that the TPP will succeed in liberalizing exchanges between participating nations, the question arises as to whether or not this leads to a positive or negative net change.

Some scientists argue that the participatory members of the TPP believe that such membership is a utilitarian and practical method for further trade liberalization. [173] Scholars Peter Petri and Michael Plummer describe the TPP as a “dynamic – and exemplary, process of competitive liberalization,” and this described liberalization can lead to a new mode of governance for Asia-Pacific as well as transnational trade. [174] In December 2011, certain patent and copyright enforcement provisions purportedly contained in the U.S. proposal on the agreement were criticized as overly restrictive, going beyond the provisions of the trade agreement with Korea and the United States and the Anti-Counterfeiting Trade Agreement (ACAC). [111] [112] A version of the treaty text “subject to legal review” was published by potential contracting parties on 5 November 2015. [82] Parts of the draft comprehensive agreements have been disclosed to the public in advance. [83] Many of the provisions contained in the leaked documents are imbued with previous trade agreements. [Citation required] The Peterson Institute for International Economics argues that “the ISDS provisions in the TPP are a significant improvement over previous agreements.” [101] PiIE notes that the ISDS mechanism in the TPP complies with environmental, health and safety rules; Ensure transparency in litigation procedures and eliminates shopping in the forum.

[101] PIIE asserts that some of the innovations contained in the TPP`s ISDS rules “are generally rejected by the U.S. business community.” [101] Piie asserts that ISDS rules are necessary because they stimulate investment: “Empirical evidence has shown that contracts, including these provisions, have a positive impact on foreign direct investment flows between signatory countries.” [144] PIIE challenges the assertion that ISDS “lacks integrity to arbitrators” and finds that arbitrators take an oath of impartiality and elect both parties in a case to arbitrators. [101] PiIE agrees that secrecy has gone too far in many ISDS cases, but notes that “TPP negotiators have opened up greater transparency to these criticisms” and ISDS cases. [101] Centre for European Reform. “Unfreezing TTIP: Why a Transatlantic Trade Pact Still Makes Strategic Sense,” pages 1-3.