The World 's Biggest Financial Regulation Essay

1896 WordsDec 5, 20168 Pages
Over the modern history of changing global leaderships, joint alliances have played a tremendous role in defining new world orders. In 1944, at Bretton Woods, New Hampshire - 44 nations came together to sign the world 's biggest financial regulation to date: the Bretton Woods Agreement. We saw a shift of global power and an era of constructive peace since, yet it came at a heavy economic cost in the failure of the dollar and the breakdown of the system shortly after. Today, the U.S. is reaching out to its Asian allies through the Trans-Pacific Partnership (TPP), a free trade agreement that aims to lift tariffs and expand trade relationships between nations accounting for 40% of global trade, in hopes of consolidating its security interests in the world 's fastest-growing region. It promises American businesses and workers a new level of prosperity by requiring member nations to follow U.S. IP best practices and American trade values. The TPP should not be ratified, however, as it is primarily negotiated by corporate lobbyists for their profit-driven interests. It contains over-optimistic fallacies that communicate unsupported economic forecasts amid America 's growing middle-class crisis. It would hurt the U.S. economy hard with questionable political benefits, and previous disappointment with the U.S.-Korea trade agreement as well as the lack of negotiation transparency points to another bureaucracy-filled trade agreement that our future political leaders should not pass.
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