The TPP and Chile

Years ago, late Chilean president, Salvador Allende, tried to warn his country about the negative a effects of “neoliberalism.”  According to article (http://www.thenation.com/article/the-tpp-will-finish-what-chiles-dictatorship-started/) from the political journal website, “The Nation,” signing the TPP can be detrimental to Chile’s economic stability.  To those who don’t know, neoliberalism essentially means economic factors are controlled by the private sector (corporations) as opposed to the traditional public sector (government).  This is a gold mine for major corporations as they would have insurmountable control of markets, especially with the TPP being an international agreement.  For Chile, there is too much too lose; the Investor-State-Dispute Settlement (ISDS) provision can easily place a negative impact on it society.  The ISDS gives corporations the right to “sue government directly before tribunals of three private sector lawyers operating under World Bank and UN rules to demand taxpayer compensation for any domestic law that investor believe will diminish their expected future profits.”  They can literally sue “just because,” and Chilean wages are already fairly low.  If the agreement is signed this year, hopefully it won’t place this negative impact on Chile’s economy.

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