May 27, 2015
By Neal Tepel
Washington, DC –- On a conference call May 21st, AFL-CIO Policy Director and Special Counsel Damon Silvers and Roosevelt Institute Senior Economist Adam Hersh described the reasons why the Trans-Pacific Partnership (TPP) is not the solution to improving China’s trade policies.
“From what we know about the TPP, it’s a low-standards agreement from the perspective of working people. It would solidify a model of globalization that drives wages and public interest policies down, it wouldn’t address job killing currency manipulation, and it could allow China to reap the benefits of the agreement without joining,” said AFL-CIO Policy Director and Special Counsel Damon Silvers. “It would undermine efforts to raise wages in China and to revive U.S. manufacturing. Congress must reject the notion that ‘TPP at any cost’ is worth it. A corporate-driven TPP cedes important American values and hurts working families in the process.”
"The argument that TPP can counterbalance China's rising economic power in the region holds no water,” said Roosevelt Institute Senior Economist Adam Hersh. “In fact, Chinese policymakers are eager to see TPP completed for the opportunity to expand their economic footprint across Asia."
The conference call discussed a report titled “The U.S.-China Economic Relationship: The TPP is Not the Answer.” This report explains why the TPP will have no effect on the way China sets its trade policy. It debunks claims that failure to pass TPP will allow China to set the rules of international trade.