The Pros And Cons Of The Trans-Pacific Partnership
Over the past couple of years, a partnership between twelve countries has been drafted and on February 3, 2016, finally signed this partnership to continue the ratification process. This partnership, known as the Trans-Pacific Partnership includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam. The main concept of the Trans-Pacific Partnership is to boost the global economy by expanding jobs, boosting trade, reducing poverty, and improving the food needs in the Asia-Pacific region. One company, Deere & Company, that already receives nearly 40% of its revenues from sales outside of the US is a huge supporter of this partnership. Deere & Company has spoken out about the …show more content…
Some economies have much more than others, while other economies are struggling. The Trans-Pacific Partnership is an idea that may help improve economies around the world. The main purpose of the Trans-Pacific Partnership is to boost trade among the agreeing countries and expand jobs and opportunities to these countries as well. Many businesses in countries who have signed this agreement have already begun building facilities in the other agreeing countries. This creates new job opportunities, which in turn can boost the economy through trade and improving poverty levels. The Trans-Pacific Partnership is also expected to enhance the global food security, especially for countries who have major food needs. By improving global food security, the starvation levels will decrease and the poverty levels will increase in less developed nations. Overall, it seems that the Trans-Pacific Partnership will be extremely beneficial to the economies of the countries who have signed the agreement. By increasing trade, reducing tariffs, expanding jobs and opportunities, and reducing poverty, the economies of these countries will
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