Thursday, March 26, 2015

Wikileaks Publishes Controversial Investment Trade Chapter

The TPP Investment Chapter, published today, is dated 20 January 2015. The document is classified and supposed to be kept secret for four years after the entry into force of the TPP agreement or, if no agreement is reached, for four years from the close of the negotiations. The Investment Chapter highlights the intent of the TPP negotiating parties, led by the United States, to increase the power of global corporations by creating a supra-national court, or tribunal, where foreign firms can "sue" states and obtain taxpayer compensation for "expected future profits". These investor-state dispute settlement (ISDS) tribunals are designed to overrule the national court systems. ISDS tribunals introduce a mechanism by which multinational corporations can force governments to pay compensation if the tribunal states that a country's laws or policies affect the company's claimed future profits. In return, states hope that multinationals will invest more.

More:  https://www.popularresistance.org/wikileaks-published-controversial-investment-trade-chapter/

No comments: