General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCold hard truth: TPP lets investors sue governments before an opaque "international tribunal"
Those who followed the TPP and read up on the leaked parts already knew the TPP is close to a blueprint for corporate tyranny. But with the text out, it's not speculation anymore.
Text of the Investment chapter:
https://ustr.gov/sites/default/files/TPP-Final-Text-Investment.pdf
Fast-forward to section B, Investor-State Dispute Settlement at page 18.
Claimants (including juridical persons, like corporations, see article 9.18 1.(b)) can sue governments (called "parties" if they deem their investement or sought after (see page 20) investment was not treated according to the rules.
The rules are in section A, and among other things prohibit any (local, state, national) government from specifying "buy local" or a certain % local in a composite product. See page 5 for "central, regional and local". Page 13 has the detail on no preferential treatment for "buying local" (which is just an example I care about)
(a)
to achieve a given level or percentage of domestic content;
(b)
to purchase, use or accord a preference to goods produced in its territory, or to
purchase goods from persons in its territory
The dispute settlement (called "arbitrage" is done under the auspices of ICSID, the International Centre for Settlement of Investement Disputes. From its Wikipedia entry, bold is mine:
The International Centre for Settlement of Investment Disputes (ICSID) is an international arbitration institution which facilitates legal dispute resolution and conciliation between international investors. The ICSID is a member of the World Bank Group, from which it receives funding, and is headquartered in Washington, D.C., in the United States. It was established in 1966 as an autonomous, multilateral specialized institution to encourage international flow of investment and mitigate non-commercial risks by a treaty drafted by the International Bank for Reconstruction and Development's executive directors and signed by member countries.[1][2] As of 2012 there were 158 member countries contracting with and governing the ICSID. Contracting member states agree to enforce and uphold arbitral awards in accordance with the ICSID Convention. The center performs advisory activities and maintains several publications.
The ICSID is governed by its Administrative Council which meets annually and elects the center's Secretary-General and Deputy Secretary-General, approves rules and regulations, conducts the center's case proceedings, and approves the center's budget and annual report. The council consists of one representative from each of the center's contracting member states and is chaired by the President of the World Bank Group, although the president may not vote. The ICSID's normal operations are carried out by its Secretariat which comprises 40 employees and is led by the Secretary-General of the ICSID. The Secretariat provides support to the Administrative Council in conducting the center's proceedings. It also manages the center's Panel of Conciliators and Panel of Arbitrators. Each contracting member state may appoint four persons to each panel.[4]:15 In addition to serving as the center's principal, the Secretary-General is responsible for legally representing the ICSID and serving as the registrar of its proceedings. As of 2012, Meg Kinnear serves as the center's Secretary-General.
This tribunal isn't new and neither are investor-state disputes (Vattenfall sueing Germany because lost potential profits due to Germany deciding to opt out of nuclear energy after Fukushima comes to mind).
But the scope of this international tribunal would be dramatically increased IF the TPP passes.
On edit: about my use of "opaque" in the thread title: the text includes a very nice sounding part about transparency of the tribunal proceedings. But when "security" or "sensitive competitive information" is at stake, that transparency is no longer valid. I can see where that will go...
randys1
(16,286 posts)He did it because the harsh reality of world economics convinced him this was better than nothing.
He is wrong, but I can deal with him being wrong.
The FACT is until we have the guts to put massive tariffs on ALL imports, forcing those things to be made here, nothing will improve
hifiguy
(33,688 posts)in his post-presidential years will make what they gave to the Clintons look like a thousand-dollar shopping spree at Wal-Mart, provided he rams this through, with mostly Repig votes one might note.
He will be a billionaire by the time he has been out of office five years. Bet on it.
He sure as shit doesn't want to end up building houses for poor people like Jimmy Carter.
randys1
(16,286 posts)hifiguy
(33,688 posts)randys1
(16,286 posts)hifiguy
(33,688 posts)than any time since I cast my first vote for president - for Jimmy Carter in 1976.
And I was sold down the river, the same way that Clinton rewarded me for the two votes I gave him. The only reason I voted for Obama again in '12 was that he wasn't Mittwit. What an inspiration.
I neither forgive nor forget betrayal. Legitimate compromise I can live with. Flat out sale of the country to corporate interests and the oligarchy/banksters is unforgivable. Clinton did it with NAFTA, the Telecom Act and "financial reform" and Obama is doing it with TPP and TISA. As only Richard Nixon could go to China, only a Democratic president could finalize the final corporate burial of representative democracy.
Them's the facts.
GoneFishin
(5,217 posts)to learn that you have been played.
arcane1
(38,613 posts)Hence his teaming up with republicans to get it done.
randys1
(16,286 posts)and then I said would you apologize for that comment when it is proven wrong.
That is what this is about, of course he agrees with TPP
hifiguy
(33,688 posts)That would be Republicans and corporately-owned "Democrats."
Does that tell you nothing? That this is the ONLY thing the Repigs have ever agreed with him on?
arcane1
(38,613 posts)BelgianMadCow
(5,379 posts)Besides the TPP, there is the TTIP and TISA. Together, they mean corporate rule over all of us. All US presidents in recent decades have been proponents of ruthless globalisation at the behest of the money that buys elections.
The EU trade commissioner, Karel De Gucht, hoped to finish TTIP by the end of this tenure.
But people in Europe have risen up, collected 3 million signatures against it, got a public scrutiny of the ISDS chapter of TTIP, forced a divided vote in EU parliament and took to the streets in the hundreds of thousands.
And in the US?
Doctor_J
(36,392 posts)Second, why is your first reaction to hearing about this debacle, "it's not his fault"?
Third, a lot of people here really hate job killing trade deals.
randys1
(16,286 posts)to liberal politics.
Doctor_J
(36,392 posts)A place dedicated to liberal politics not surprisingly has many posts highly critical of "NAFTA on steroids".
valerief
(53,235 posts)hifiguy
(33,688 posts)by their own lawyers, whom they will appoint. Whose sole loyalty is to their clients' money.
Yeah, this isn't the final merger of feudalism and fascism.
arcane1
(38,613 posts)You can't sue pretty much any company you do business with if you agreed to their terms, which are increasingly using arbitration to get out of the threat of lawsuits.
Of course, the company chooses the arbitrator, and the time and place of arbitration. And we poor fools have to pay their fees.
Corporations.
jberryhill
(62,444 posts)And for the same reasons.
OnyxCollie
(9,958 posts)1. Unless the disputing parties agree otherwise, the tribunal shall comprise three arbitrators, one arbitrator appointed by each of the disputing parties and the third, who shall be the presiding arbitrator, appointed by agreement of the disputing parties.
2. The Secretary-General shall serve as appointing authority for an arbitration under this Section.
3. If a tribunal has not been constituted within a period of 75 days after the date that a claim is submitted to arbitration under this Section, the Secretary-General, on the request of a disputing party, shall appoint, in his or her discretion, the arbitrator or arbitrators not yet appointed. The Secretary-General shall not appoint a national of either the respondent or the Party of the claimant as the presiding arbitrator unless the disputing parties agree otherwise.
KoKo
(84,711 posts)Hoyt
(54,770 posts)provides oversight.
The actual tribunal arbiters are selected -- one by country, one by company, one by mutual agreement. How could it be fairer.
randome
(34,845 posts)Arbitration between disputed trade entities has been the norm for decades. Who should we appoint to rule over international trade disputes? Judge Billy-Bob from Mississippi?
And the calumny against Obama is unbelievable.
[hr][font color="blue"][center]TECT in the name of the Representative approves of this post.[/center][/font][hr]
hifiguy
(33,688 posts)distinguished JUDGES from member nations, assigned RANDOMLY, holding public proceedings instead of bought-and-paid-for corporate lawyers working behind locked doors? Like a REAL court?
This garbage amounts to a corporate Star Chamber with predetermined results.