In the article “TPP – What You Need To Know” (http://www.radionz.co.nz/news/top/295574/tpp-what-you-need-to-know) , a brief overview of the TPP and its potential benefits to New Zealand are given. What is the TPP agreement again? Per the article it is set as a “set of trade and investment negotiations among 12 Asia-Pacific countries to cut tariffs, improve access to markets, and set common ground on labor and environmental standards and intellectual property protections. Specific to New Zealand, what are the biggest benefits? Citing the article, “agricultural tariffs either disappear of fall sharply, particularly in the heavily protected but lucrative US and Japanese markets”. It is estimated that the elimination of tariffs will save exporters $274 million a year once TPP has been adopted and implemented. With such great financial benefits, what are the possible downsides of the agreement? Some people theorize that the TPP will result in higher prices for medicine, recordings, books, and “other products affected by longer copyright periods”. Likewise, critics say that the TPP will benefit the large corporation, not the consumer. Which is correct? Which will benefit New Zealand more as a whole?
Throughout the life of the TPP, there has been an immense amount of negative publicity. Amid this storm of publicity, the article “TPP Signing an Honour, Let’s Respect It” (http://m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11573339) shines a new light onto the agreement. According to the article, the TPP is “the most comprehensive and far-sighted economic agreement the world has seen in our lifetime”. With only 12 nations from the entire world playing a part in the agreement, the group is very selective. This shows a lot of respect for New Zealand among the world’s largest and most powerful countries. Likewise, there is the potential for immense profits and additional jobs. The author acknowledges the fact that there will be protest due to “the TPP’s intellectual property discussions the risk that US patent law and copyright protection of pharmaceuticals and other products”, but maintains the vision of respecting the value New Zealand receives from being a part of such a monumental agreement. Which point of view is correct? Is the TPP a positive or negative for New Zealand? Is there validation to both sides of the argument?