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Trans Pacific Partnership Bilateral Agreement

Their analysis notes that “the benefits of the TPP appear to be equitably distributed – labour will increase relative to capital and cost reductions will favour low-income households. Some workers have to change jobs, but they account for a small fraction of normal job emigration in a given year, and national benefits argue for generous compensation for their adjustment costs. The agreement will also benefit workers in the poorest TPP countries. [160] Studies by Harvard economist Robert Z. Lawrence show that the “percentage gains for labor income of the TPP will be slightly greater than the profits of capital income. Households in all quintiles will benefit from similar percentages, but as soon as spending differences are taken into account, the percentage gains for poor and average households will be slightly larger than those of the leading households. “[161] [162] An intervention by Ed Gerwin in the Wall Street Journal asserts that the TPP agreement benefits Small American Businesses. [88] The TPP economies accounted for about 40% of global gross domestic product (GDP) and the agreement would have been the largest ever reached by the United States, both in terms of the number of countries and overall trade flows. Data from the U.S. International Trade Commission [PDF] shows that U.S.

trade with TPP countries was worth more than $1.5 trillion, or about 40 percent of the entire U.S. . . .

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