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Vietnam acknowledges the TPP as pathway towards the SDGs

February 7, 2015

binh_OIPNThe intersection of the TPP and the Millennium Development Goals (soon to be Sustainable Development Goals) are finally discussed publicly by trade ministers.

One should consider that the TPP (and TTIP) is a path towards writing the rules for investment and trade among the developing countries.  Ever since the investment collapse in 2008, the Wall St. investment regime has lost much of its global market as developing countries have found greater security among the BRICS emerging markets, as is evident in the 22 countries’ recent signing of MOUs to the China-led AIIB.

Historically, the US and the greater OECD partnership has been using the commodity resources of developing countries to leverage debt against, and as developing countries have been turning to the emerging markets, the TPP and TTIP seek to write the investment and trade rules that will shift that momentum back towards the failed neo-liberal privatization model.

According to Vietnamnet, “Deputy Prime Minister and Foreign Minister Pham Binh Minh stated that 2015 is very important for the country as it will have to fulfil a five-year socio-economic development plan (2011-2015), the Millennium Development Goals (MDGs) and post-2015 Development Agenda and strongly implement the international integration process through actively taking part in cooperative mechanisms and completing negotiations on free trade agreements (FTAs).

Minh said the country’s GDP growth mainly depends on trade and exports. After joining FTAs, especially those of new generation like the Trans-Pacific Partnership (TPP) and Regional Comprehensive Economic Partnership (RCEP), Vietnam can expand markets, and import high-quality machines and materials at cheap prices, which help lower products’ prices, improve competitive edge for exports and generate more jobs.”

When Miinh says “import high-quality machines and materials at cheap prices,” he’s talking about imposed tariff reductions which result in a loss of government revenue, forcing Vietnam to accept all those crumby private schemes led by corporations in the education, health care, climate, and ag sectors which are part of the MDG/SDGs.

In the US, we may have gotten used to the privatization of all of these sectors as they have become the source of much of our income and economic disparities.


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