As the World Trade Organization meets in Indonesia, negotiators and lobbyists from the United States and 11 other countries are also in Singapore for secretive talks on the proposed Trans-Pacific Partnership. The TPP would establish a free trade zone stretching from Vietnam to Chile to Japan, encompassing nearly 40 percent of the global economy. The Huffington Post reports the United States has received almost no support for a series of proposals that would grant "radical new powers to corporations." Internal memos from an unnamed government involved in the talks show the Obama administration has tried to push through guarantees for corporations to sue governments for lost profits in a private court. The administration has also called for new intellectual property regulations that would give pharmaceutical giants long-term monopolies over medications, freezing out cheaper generic alternatives. Another U.S. proposal facing resistance would limit governments from negotiating lower prices with pharmaceutical companies. On bank regulation, the United States has faced opposition for seeking restrict "banking controls," a series of measures that can help a government respond to financial crises. Activists observing the talks, meanwhile, say the United States has been trying to push through an agreement by January 1, hosting secretive invite-only sessions with key delegates.
Democracy Now
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