In a case illustrating the dangers of corporate-friendly provisions buried in trade deals like the Trans-Pacific Partnership, a secret tribunal is on the brink of issuing a ruling any day that that could force the Central American country of El Salvador to pay $301 million to a Canadian-Australian gold-mining firm.
Obama appeared at Nike headquarters in Oregon on Friday and repeated his pro-TPP mantras including telling us that “if we don’t write the rules, China will” even though TPP includes no constraints on China’s currency manipulation practices.
Nike pioneered and wrote the book on offshoring shoe manufacturing and will rake in even more dough if the TPP enables them to sue governments through the corporate tribunals.
Why can’t El Salvador sue the company for the externalized costs of damage that the gold mine would create and the company would NOT clean up?
You mean like Nigeria did to Shell? That’s sure a winning strategy. The tribunals seem to work only in one direction, corporations lost profits, or expected profits, because of governmental actions. If the governments want to sue the corporations, they have to do it in court.
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“Heads I win, tails you lose”. At the risk of over simplifying, TPP is obviously a bad, bad deal as written (in the five of the 29 parts we can read - thanks to Wikileaks).