Australia Doubts a Clinton Win Would Derail Pacific Trade Deal

Baker & McKenzie Partner Kevin O’Brien, who brings more than 30 years of experience advising on intellectual property matters and global trade law, provides insight on the implications of the accord.

The recent pact on the Trans-Pacific Partnership (TPP) trade agreement is credit positive for all 12 participating sovereigns, especially for those in Asia, Moody’s Investors Service says.

Countries involved are the USA, Canada, Japan, Australia, Brunei, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

“But more importantly, the TPP would require India to search for closer alignment between its foreign and trade policies”, said Palit.

He said a Labour Government would flout the trade deal by banning non-resident purchases of residential property or farmland.

Professor of strategic management at Warwick Business School Kamel Mellahi believes the TPP would be much greater with China in than out.

The central bank of China has estimated that the world’s second largest economy would be able to forfeit a 2.2 percent boost to gross domestic product if Beijing will not be joining the trans-pacific partnership – this is as per the views of the chief economist Massachusetts Jun.

For now, Indonesia’s is anxious about Vietnam being part of the TPP.

“These final TPP rules would lengthen, strengthen and broaden special patent and data protections, which pharmaceutical companies use to delay generic competition and keep drug prices high”, Maybarduk said.

Dubbed “ABC” (Anyone but China), the trade deal is regarded as a United States strategy to counter China’s rising power in the region and has triggered fears that it will aggravate the downturn of China’s exports and economy. With a total of 40pc of all Australian agricultural exports – $14 billion already going to TPP nations the agreement has been earmarked to further grow these markets.

TPP has been years in the making, but it has come under fire from allies and enemies of the president alike.

“Obviously we would like to see this agreement move forward, and I think industry on both sides of the border would, but for reasons that were not entirely clear, the American administration hasn’t seen it that way”, Harper said in an interview with Black Press. Just under half of Canadians surveyed were either not confident (32 per cent) or somewhat not confident (16 per cent) that the government has done a good enough job advancing Canada’s interests, according to the poll conducted by Nanos Research for CTV News and The Globe and Mail.