<html><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; "><div><br><div>Begin forwarded message:</div><br class="Apple-interchange-newline"><div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><font face="Helvetica" size="3" color="#000000" style="font: 12.0px Helvetica; color: #000000"><b>From: </b></font><font face="Helvetica" size="3" style="font: 12.0px Helvetica">"Culpepper Travoris" <<a href="mailto:TCulpepper@teamster.org">TCulpepper@teamster.org</a>></font></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><font face="Helvetica" size="3" color="#000000" style="font: 12.0px Helvetica; color: #000000"><b>Date: </b></font><font face="Helvetica" size="3" style="font: 12.0px Helvetica">April 30, 2012 2:47:14 PM PDT</font></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><font face="Helvetica" size="3" color="#000000" style="font: 12.0px Helvetica; color: #000000"><b>To: </b></font><font face="Helvetica" size="3" style="font: 12.0px Helvetica">"Arthur Stamoulis" <<a href="mailto:arthur@citizenstrade.org">arthur@citizenstrade.org</a>></font></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; "><font face="Helvetica" size="3" color="#000000" style="font: 12.0px Helvetica; color: #000000"><b>Subject: </b></font><font face="Helvetica" size="3" style="font: 12.0px Helvetica"><b>WSJ:U.S. Trans-Pacific Trade Deal is a Waste, Says Free Trader</b></font></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; min-height: 14px; "><br></div> </div> <meta http-equiv="Content-Type" content="text/html; charset=us-ascii"> <meta name="Generator" content="Microsoft Word 11 (filtered medium)"> <!--[if !mso]> <style> v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#default#VML);} </style> <![endif]--><o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="Street"> <o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="PlaceType"> <o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="PlaceName"> <o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="State"> <o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="country-region"> <o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="City"> <o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="place"> <o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="address"> <o:smarttagtype namespaceuri="urn:schemas-microsoft-com:office:smarttags" name="PersonName"> <!--[if !mso]> <style> st1\:*{behavior:url(#default#ieooui) } </style> <![endif]--> <style> <!-- /* Font Definitions */ @font-face {font-family:Helvetica; 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-webkit-line-break: after-white-space"> <div class="Section1"> <h1><font size="1" color="#666666" face="Arial"><span style="font-size:7.0pt; font-family:Arial;color:#666666">April 30, 2012, 2:37 PM </span></font><b><font size="4" color="#666666" face="Arial"><span style="font-size:14.0pt;font-family: Arial;color:#666666;font-weight:bold"><o:p></o:p></span></font></b></h1> <h1><b><font size="4" color="black" face="Arial"><span style="font-size:14.0pt; font-family:Arial;color:black;font-weight:bold">U.S. Trans-Pacific Trade Deal is a Waste, Says Free Trader<o:p></o:p></span></font></b></h1> <ul type="disc"> <li class="MsoNormal" style="color:black;mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;mso-list:l1 level1 lfo1"><font size="3" color="#666666" face="Arial"><span style="font-size:12.0pt;font-family:Arial;color:#666666">HKT</span></font><font face="Arial"><span style="font-family:Arial"><o:p></o:p></span></font></li> </ul> <form><p class="MsoNormal"><font size="3" color="black" face="Arial"><span style="font-size: 12.0pt;font-family:Arial;color:black"> <label for="s"> <img width="553" height="369" id="_x0000_i1032" class="size-full wp-image-5" src="cid:image001.jpg@01CD26F9.4668FC10"><o:p></o:p></label></span></font></p><p class="MsoNormal" align="right" style="margin-left:.5in;text-align:right"><font size="3" color="black" face="Arial"><span style="font-size:12.0pt;font-family:Arial; color:black">Agence France-Presse/Getty Images<o:p></o:p></span></font></p><p class="MsoNormal" style="margin-left:.5in"><font size="3" color="black" face="Arial"><span style="font-size:12.0pt;font-family:Arial;color:black">Protesters from a Japanese local farmer’s group stage a demonstration march with a placard that reads, “Let’s protect Japanese country and food” during an anti-TPP rally in <st1:city w:st="on"><st1:place w:st="on">Tokyo</st1:place></st1:city> on April 25, 2012.<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">Arvind Subramanian is both a free trader and a U.S.-based expert on Chinese economic power. So why does the Peterson Institute for International Economics senior fellow argue that efforts to create a Trans-Pacific Partnership should be scrapped?<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">The proposed trade deal with Asian nations, including <st1:country-region w:st="on"><st1:place w:st="on">Japan</st1:place></st1:country-region>, is the flagship trade effort of the Obama administration. It would more deeply tie the <st1:country-region w:st="on">U.S.</st1:country-region> to Asia and, with the inclusion of <st1:country-region w:st="on">Japan</st1:country-region> as a potential signee, become the most significant <st1:country-region w:st="on"><st1:place w:st="on">U.S.</st1:place></st1:country-region> trade deal in many years.<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">It’s also aimed at a huge non-participant, <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region>. The idea is to create rules governing state-owned enterprises, currency trading, antitrust policy as well as the usual trade fare, which would become international norms. If it works, <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> would either become a signatory or eventually adopt the practices.<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">But Mr. Subramanian argues it simply won’t work — or won’t work as well as other measures.<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">“<st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> would never agree to just fall in line with rules in the negotiations of which it has not participated,” he writes in a policy brief.<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">If <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> did agree to participate in the talks, it would have huge bargaining leverage. Better to have multilateral talks where <st1:country-region w:st="on">China</st1:country-region>’s power is diluted by the addition of <st1:country-region w:st="on">Brazil</st1:country-region>, Europe, <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region> and others to the talks.<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">A third possibility is that <st1:country-region w:st="on">China</st1:country-region> comes to view the TPP as a hostile effort to “encircle” <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> economically. “TPP could thus provoke <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> into playing the regionalism game in a way that could fundamentally fragment the trading system,” he writes.<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">But the alternatives to the TPP aren’t promising either. The World Trade Organization’s “Doha Round” negotiations are “moribund,” he notes. (They have been going on for more than a decade with no sign they will be concluded any time soon — or ever. )<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">Mr. Subramanian suggests a few possibilities: giving <st1:country-region w:st="on">China</st1:country-region> equal status to the <st1:country-region w:st="on">U.S.</st1:country-region> and Europe at the International Monetary Fund, promoting the yuan as an international currency and granting <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> market-economy status so it has a better chance to defend against anti-dumping actions. He would also upgrade the Strategic and Economic Dialogue between the <st1:country-region w:st="on">U.S.</st1:country-region> and <st1:country-region w:st="on">China</st1:country-region> — the latest round starts on Thursday in <st1:city w:st="on">Beijing</st1:city> — to include Europe, <st1:country-region w:st="on">Japan</st1:country-region>, <st1:country-region w:st="on">Brazil</st1:country-region> and <st1:country-region w:st="on"><st1:place w:st="on">India</st1:place></st1:country-region>.<o:p></o:p></span></font></p><p><font size="3" color="black" face="Arial"><span style="font-size:12.0pt; font-family:Arial;color:black">The idea is to make <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> feel its rise is welcomed by other nations and also to lessen its power by including other nations. But he warns: “There remains a distinct possibility of an eventual unbenign exercise of dominance by a hegemonic or near-hegemonic <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region>.”<o:p></o:p></span></font></p><p><em><font size="1" color="black" face="Arial"><span style="font-size:7.5pt; font-family:Arial;color:black">– Bob Davis</span></font></em><font size="1" color="black" face="Arial"><span style="font-size:7.5pt;font-family:Arial; color:black"><o:p></o:p></span></font></p><p class="MsoNormal"><font size="2" color="navy" face="Arial"><span style="font-size: 10.0pt;font-family:Arial;color:navy"><o:p> </o:p></span></font></p></form></div></div></o:smarttagtype></o:smarttagtype></o:smarttagtype></o:smarttagtype></o:smarttagtype></o:smarttagtype></o:smarttagtype></o:smarttagtype></o:smarttagtype></div></body></html>