Massive trade deals like TPP place "constant downward pressure on American wages"...per Obama administration adviser Wessel
Oct. 2015 article:
10/9/2015, "Wikileaks release of TPP deal text stokes 'freedom of expression' fears," UK Guardian, Sam Thielman in NY
"Michael Wessel was one of the advisers who was asked by the US government to review what he said were woefully inadequate portions of the document. Wessel said the thrust of the TPP does nothing for Americans. “This is about increasing the ability of global corporations to source wherever they can at the lowest cost,” he said.
“It is not about enhancing or promoting production in the United States,” Wessel said. “We aren't enforcing today's trade agreements adequately. Look at China and Korea. Now we’re not only expanding trade to a far larger set of countries under a new set of rules that have yet to be tested but we’re preparing to expand that to many more countries. It would be easier to accept if we were enforcing today’s rules.”
Wessel said that ultimately, the countries currently benefiting from increased outsourcing of jobs by American firms aren’t likely to see wages rise above a certain level. “If you look in other countries, Mexico and India and others – there’s been a rise in the middle class but there’s been stagnation for those we’re hoping to get into the middle class,” Wessel said. “Companies are scouring the globe for countries they can get to produce most cheaply.”
That, he said, results in constant downward pressure on American wages. “Companies are not invested here the way we’d like them to; they’re doing stock buybacks and higher dividends,” Wessel continued. “They may yield support for the stock-holding class but it’s not creating jobs.”"...
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Added, re: the other massive trade deal pending, TTIP: "It's hard to know what drives politicians to sell out their people and their country." Der Spiegel on TTIP, 5/6/16
5/6/16, "The TTIPing Point: Protests Threaten Trans-Atlantic Trade Deal," Der Spiegel, Dinah Deckstein, Simone Salden, Michaela Schiebl
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"An unprecedented protest movement of a scope not seen since the Iraq war in Germany has pushed negotiations over the TTIP trans-Atlantic free trade agreement to the brink of collapse. The demonstrations are characterized by a level of professionalism not previously seen."....
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Oct. 2015 article:
10/9/2015, "Wikileaks release of TPP deal text stokes 'freedom of expression' fears," UK Guardian, Sam Thielman in NY
"Michael Wessel was one of the advisers who was asked by the US government to review what he said were woefully inadequate portions of the document. Wessel said the thrust of the TPP does nothing for Americans. “This is about increasing the ability of global corporations to source wherever they can at the lowest cost,” he said.
“It is not about enhancing or promoting production in the United States,” Wessel said. “We aren't enforcing today's trade agreements adequately. Look at China and Korea. Now we’re not only expanding trade to a far larger set of countries under a new set of rules that have yet to be tested but we’re preparing to expand that to many more countries. It would be easier to accept if we were enforcing today’s rules.”
Wessel said that ultimately, the countries currently benefiting from increased outsourcing of jobs by American firms aren’t likely to see wages rise above a certain level. “If you look in other countries, Mexico and India and others – there’s been a rise in the middle class but there’s been stagnation for those we’re hoping to get into the middle class,” Wessel said. “Companies are scouring the globe for countries they can get to produce most cheaply.”
That, he said, results in constant downward pressure on American wages. “Companies are not invested here the way we’d like them to; they’re doing stock buybacks and higher dividends,” Wessel continued. “They may yield support for the stock-holding class but it’s not creating jobs.”"...
....................................
Added, re: the other massive trade deal pending, TTIP: "It's hard to know what drives politicians to sell out their people and their country." Der Spiegel on TTIP, 5/6/16
5/6/16, "The TTIPing Point: Protests Threaten Trans-Atlantic Trade Deal," Der Spiegel, Dinah Deckstein, Simone Salden, Michaela Schiebl
...........
"An unprecedented protest movement of a scope not seen since the Iraq war in Germany has pushed negotiations over the TTIP trans-Atlantic free trade agreement to the brink of collapse. The demonstrations are characterized by a level of professionalism not previously seen."....
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