With Brexit in the Rear View Mirror, What Lies Ahead for NAFTA and TPP?
Prince George, B.C.- As Prime Minister Trudeau huddles with U.S. President Obama and Mexico’s Enrique Pena Nieto to talk about strengthening NAFTA, the question about the benefits of such agreements has been underscored by the “Brexit” referendum which saw British voters call for Britian to pull out of the European Union.
“I think some of these trade deals are in some trouble” says Skeena-Bulkley MP Nathan Cullen “simply because they , over time, have not delivered on their promises, particularly to middle class working Canadians.” He says while investment increases, the wealth continues to concentrate at the highest levels.
He says the Brexit vote was a mix of issues but adds, “One of the concerns was from ordinary people saying ‘my life doesn’t seem to be getting anymore affordable’. Middle income, lower income folks in Canada haven’t had a raise in a generation. Theses deals were meant o make us all more prosperous, but they seem to favour the few at the top.”
He says when the Prime Minister, or others, talk about making the trade deals larger or going into new ones like the Trans Pacific Partnership “There’s always winners and losers in these deals, and it seems too often working people are always in the second category.”
So, would he support a national referendum in Canada on staying within these trade deals? There is no simple answer says Cullen “One has to be very careful with any referenda, because just as we saw in England, it opens up a whole bunch of other questions other than the one that you were asking. NAFTA I think is a deal that would have to be dramatically improved on to gain larger support from Canadians. As you can see from recent polling, many Canadians are not feeling the benefit from these deals and can too easily spot some of the things we’ve had to give up in terms of our sovereignty. So this is the nature of trade deals. As there are winners and losers in certain industries and categories, it also comes down to the individual and the deals are often trumpeted as being great for everybody and that’s never the case.”
The fundamental problem is, once again, never addressed. IF, over any given period of time, the people of any country cannot buy back and fully pay for ALL the production they’ve just made from ALL the incomes they’ve just been paid, how then are they going to afford to pay for the exchange of that production through international trade?
Trade, internationally, is essentially barter. Their stuff for our stuff. That’s not what’s involved as the main reason for concluding the kind of trade deals we’ve entered into, and the Brits are now trying to get out of with the EU.
Those deals are a way to delay a problem that’s going to come back to haunt us, as it has them.
That problem is that no modern industrial country has a cost/price system that can be fully liquidated through the distribution of CURRENT earned incomes alone.
They ALL have to try to import some other country’s ‘money’ to allow their people to live. And/or go further and further into unrepayable debt, the holders of whom, those who are allowed to ‘create’ it, will eventually OWN you. THEY will rule you. By financial deception. And you WILL do THEIR bidding. It’s not much different than ‘voodoo’ ~ so long as you believe in it. But when you don’t? No power whatsoever.
Cullen states that.
Middle and lower income people have not had a raise in a generation.
Members of Parliament got a 1.8% raise last year, and their annual salary jumped from $167,400.00 to $170,600.00. So, nice work if you can get it.
We certainly need trade in this Country as we are primarily an exporting Country, and certainly an exporting Province. As things now stand with these various trade agreements we are going to find ourselves up the creek without a paddle.
All these trade agreements have pit falls for BC, especially when it comes to lumber exports.
So hang on to your hat because we are in for a rough ride for the next 10 years, more or less.
Pal you must own a big corporation. You always appear to think people that work for wages need to earn less. How about a bank executive that rakes in $10,000,000.00 bucks a year. Is that OK?
If all borders were suddenly closed to Canadian exports what would we do? Just sit down and die because we couldn’t sell what we produce to anyone beyond our borders? Or would we do exactly the same thing we do when some natural disaster strikes, or when we go to war? Namely, realise that it is the ‘physical’ ability to do anything that is going to determine what CAN be done, not the ‘financial’ representation of it. Especially when that financial representation ISN’T even accurate.
Brexit in the rear view mirror ? Boris Johnson has just slithered back under the rock he came from.
All hat we are exporting at this time is our natural recourses. Our manufacturing has gone to thee dumper. These trade deals are for none other then our big corporations we are left with the sawdust.
There is a lot of wind on how the Brexit deal will hurt the economy. Sure its going to hurt but is the stock market that will suffer and that’s OK with me. Its a wakeup call for the corporation.
The markets have almost made all the losses back due to the brexit panic . First day down 4% second day 2% . It was a buying operatunty for those that don’t panic . The sellers were the losers , just like in March 09 . The markets will factor in the brexit and will be just fine . It is the workers and pensioners of England that will suffer .
NAFTA and the TPP should be killed. I’m tired of the puppetoons “representing” us continually misrepresenting these deals as trade deals when in reality they are nothing but Corporate Bills of Rights.
Free trade sounds great in theory, but in practical reality is nothing but a disaster. The idea that a country, such as Canada, with developed social labour and environmental standards can compete on an even footing with a country, such as China, with no social, labour, environmental or financial standards, in a free-for-all Capitalist system, was ludicrous from the very outset.
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