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To better understand the deal and what [the Trans-Pacific Partnership] means for the world, correspondent Tom Murphy spoke with Kimberly Ann Elliott a Senior fellow specializing in trade policy at the Center for Global Development. She starts by explaining just what the deal is and who is involved. At its core, the TPP sets out trade rules among signatory countries. It comes as talks to reform rules set by the World Trade Organization have been stalled.
Elliott helps cut through the arguments for and against the deal to help understand what it can and cannot achieve. As is always the case, there are some over-stated claims from proponents and opponents alike, but there is good reason to have some concerns about the TPP when it comes to development. Low-income countries participating, like Vietnam, benefit slightly and at the potential expense of other countries.