{"id":13134,"date":"2015-10-08T06:11:31","date_gmt":"2015-10-08T11:11:31","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13134"},"modified":"2015-10-08T06:11:31","modified_gmt":"2015-10-08T11:11:31","slug":"this-is-how-the-trade-pact-escalates-the-currency-war","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13134","title":{"rendered":"This is How the Trade Pact Escalates the Currency War"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/wolfstreet.com\/2015\/10\/07\/trade-deals-encourage-currency-war-report\/\" target=\"_blank\">This is How the Trade Pact Escalates the Currency War<\/a><\/h3>\n<p>When negotiators from 12 nations and hundreds of lobbyists from around the world, after years of horse-trading, agreed on a \u201ctrade deal\u201d on Monday \u2013 a deal that remains secret except for the sections that have been leaked \u2013 President Obama gushed that it \u201creflects America\u2019s values.\u201d<\/p>\n<p>The Trans-Pacific Partnership (TPP) pries open markets for American goods and services and impose rules on our trading partners that give \u201cour workers the fair shot at success they deserve,\u201d he said.<\/p>\n<p>Similar praise ricocheted around the Pacific from Prime Minister Stephen Harper in Canada, and from politicians and heads of state in Australia, New Zealand, Japan, and the other\u00a0participating countries. China isn\u2019t part of the deal, but what the heck.<\/p>\n<p>The free trade deal isn\u2019t actually about \u201cfree trade.\u201d Many provisions that have been leaked deal with reshuffling the power structure between corporations and democratic states at the expense of citizens and taxpayers.<\/p>\n<p>So now this thing has to be ratified in the 12 countries involved. There might be one or the other hiccup \u2013 for example, Hillary Clinton has just come out against it to gain points in her battle to the presidency. \u201cAs of today, I am not in favor of what I have learned about it,\u201d\u00a0<a href=\"http:\/\/www.pbs.org\/newshour\/rundown\/hillary-clinton-says-she-does-not-support-trans-pacific-partnership\/\" target=\"_blank\"><u>she told PBS<\/u><\/a>, thus flip-flopping beautifully\u00a0from when she, as Secretary of State, had backed the deal.<\/p>\n<p>Despite these potential hiccups, delays, flip-flops, and re-flip-flops, I expect it to get ratified eventually by all 12 countries. Too many deep pockets have lined up behind it to let some elected politician screw it up.<\/p>\n<p>Alas, there remains a little problem: does it really promote exports,\u00a0which is what they all claim it does, or is that just hype?<\/p>\n<p>That\u2019s the question Krishen Rangasamy, Senior Economist at\u00a0<a href=\"https:\/\/www.nbc.ca\/en\/rates-and-analysis\/economic-analysis.html\" target=\"_blank\"><u>Economics and Strategy<\/u><\/a>, National Bank Financial, in Canada asked in a note \u2013 and then provided the answer: um, no.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is How the Trade Pact Escalates the Currency War When negotiators from 12 nations and hundreds of lobbyists from around the world, after years of horse-trading, agreed on a \u201ctrade deal\u201d on Monday \u2013 a deal that remains secret except for the sections that have been leaked \u2013 President Obama gushed that it \u201creflects [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,5],"tags":[171,1471,188,1784,337,804,805,2738,4254,4255],"class_list":["post-13134","post","type-post","status-publish","format-standard","hentry","category-economics","category-geopolitics","tag-corporations","tag-corporatism","tag-currency-war","tag-exports","tag-free-trade","tag-tpp","tag-trade","tag-transpacific-partnership","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13134"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13134\/revisions"}],"predecessor-version":[{"id":13135,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13134\/revisions\/13135"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}