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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Jack of All Trades who wrote (201262)8/7/2017 2:06:48 PM
From: Kenneth E. Phillipps  Read Replies (1) of 224728
 
The Trans-Pacific Partnership agreement is quietly moving toward ratification without the U.S. What was a blessing for Western Canada — Asian markets finally opening — could be even better with those markets opening without the presence of U.S. competitors.
Rather than killing the agreement, the U.S. withdrawal has actually made it better for Canada, as demonstrated in a recent Canada West Foundation research paper that modelled the potential economic impacts of a TPP without the Americans. It found that Canada actually does better in a TPP without the U.S.
As lower tariffs on Canadian goods increase demand from Asian buyers, the ports in B.C. will be ready thanks to their massive investments. Recently announced federal trade infrastructure money will help ease constraints elsewhere and could potentially help ease impacts from increased traffic around Vancouver.
But it is not just beef and other commodity exporters that stand to gain. In addition to substantial jobs and revenue for the city’s port and affiliated businesses, there are bigger opportunities on trade in services.
For Vancouver, a TPP 11 is a chance to accelerate the movement of production, especially in services like high-tech, from the U.S. If the TPP forges on without the U.S., and all indications from media in TPP countries are that a TPP 11 will indeed go ahead, then American manufacturers and service companies will have a sudden competitiveness problem in Asia — a gap Canadians can and should fill.
U.S. companies that want to remain competitive in Asia will have two choices: Either hope that the Trump administration comes to its senses and reverses itself on the U.S. withdrawal from the TPP, or move production to a TPP 11 country.
vancouversun.com
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