Watching TPP efforts - meeting in Japan
Even if it's only 2 countries intent on "opening the markets" I can hear jobs whooshing out of the country and wages on remaining jobs here being pushed down as more labor is available. It's become a pattern. Companies retire or layoff experienced high-wage workers and will replace them with nothing but recent grads at minimum wage. Don't be fooled by recent attempts - even by certain political parties - to raise the minimum wage. My best guess at this point is they'll raise it to $12/hr and continue to LOWER everyone else they can to that point. It's an exercise in managing expectations ... as they continue other exercises like moving jobs to "friendlier - ie cheaper" areas overseas. Our corporate overlords at work.
Here is an update on the TPP so we aren't distracted by the operations in Kiev, etc ... --
The Japan Times
May 10, 2014
The 12 countries involved in the Trans-Pacific Partnership trade negotiations will launch a fresh round of talks Monday with expectations for progress as Japan and the United States move closer to resolving thorny bilateral issues.
Their chief negotiators are set to hold the four-day meeting in Ho Chi Minh City and follow it up with a ministerial gathering in Singapore from May 19 to 20 to tackle pending issues ranging from tariffs and intellectual property rights to reform of state-owned firms.
The TPP members failed to reach a broad agreement at their last ministerial session in February in Singapore due to Japan-U.S. bickering over market access for farm products and autos — their biggest sticking points.
The other 10 countries, including Australia, Canada and New Zealand, have taken a wait-and-see attitude amid the Japan-U.S. deadlock, but negotiation sources say the talks could accelerate after Tokyo and Washington overcame some of their differences last month.
Prime Minister Shinzo Abe and U.S. President Barack Obama said after their summit on April 24 in Tokyo that they have “identified a path forward” on important bilateral issues and that it marked a “key milestone” in the TPP ...
Much more here: http://www.japantimes.co.jp/news/2014/05/10/national/politics-diplomacy/japan-u-s-spur-new-tpp-talks-in-vietnam/#.U2-4_ij4R5w
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