Discuss Pros and Cons for Joining the Trans-Pacific Partnership

837 WordsFeb 22, 20183 Pages
Introduction The Trans- Pacific Partnership (TPP) trade agreement was outlined on November 11th, 2011. It is currently set up between nine countries. They are: the United States of America, Australia, New Zealand, Chile, Malaysia, Singapore, Vietnam, Peru, and Brunei Darussalem. The purpose of the trade agreement is to “enhance trade and investment among the Trans- Pacific Partnership countries, promote innovation, economic growth and development, and support the creation and retention of jobs (Outlines 2011).” Later on, Canada and Mexico, and Japan were invited to join the Trans- Pacific Partnership. Canada is currently in negotiations to join. However, there are viewpoints that should be addressed if Canada is to join the Trans- Pacific Partnership. Data The Trans- Pacific Partnership countries have a total population of 792 million people. It also has a combined Total GDP of $28.1 trillion US dollars. That is almost equivalent to 40% of the world’s economy, and they are all available for open trade once Econ 305 Rose Schaufele, Jesse Long this trade agreement fully takes effect (Trans 2014). In regards to the Asia Pacific region, “The region is home to 40% of the world’s population, produces nearly 60% of global GDP, and includes some of the fastest growing economies in the world (Williams 2013).” Also, trade with United States of America is “…the equivalent of $1.6 billion a day in goods--… (US 2013).” In addition, “The United States is Canada's largest foreign

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