Skip to comments.Reassess Trans-Pacific Partnership Agreement (Malaysia)
Posted on 06/30/2013 11:11:09 PM PDT by TexGrill
HAVE you heard of the Trans-Pacific Partnership Agreement? It is a multilateral trade agreement being negotiated between Malaysia, the United States and several other Pacific Rim nations, and if it becomes law, it will have an immense impact on the country's financial, economic, and even legal affairs. In other words, a strong case can be made that the TPPA would undermine Malaysia's sovereignty.
Malaysia is set to host the next round of negotiations for the TPPA this month, but there are still significant challenges ahead before the trade deal can become law.
Putrajaya has taken a strong stance against any extension of intellectual property rights involving medicine in the deal, which could otherwise significantly inflate the price of generic medications.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed told the media that he would defend existing policies and choose not to sign the TPPA if the terms didn't benefit Malaysia.
It would be strange for Malaysia to agree to the TPPA, given its past criticism of neo-liberal capitalism and deregulated trade.
Former prime minister Tun Dr Mahathir Mohamad once likened free trade to a house with all its doors and windows left open, and as a consequence, bears, wolves and other predatory beasts would invite themselves inside.
He also called for a new model of globalisation that could be more equitable, and more in service to social uplift and poverty reduction, rather than to a handful of Western banks and mega-corporations.
(Excerpt) Read more at nst.com.my ...