Extract from “Reject the TPP in the public interest—Jomo Kwame Sundaram”

The TPP will also strengthen foreign investor rights at the expense of local business and the public interest. With its provisions for an investor-state dispute settlement (ISDS) system, it obliges governments to compensate foreign investors for losses of expected profits in binding private arbitration!

ISDS will thus confer foreign corporate investors with the right to sue national governments for regulatory or policy changes that they claim diminish the expected profitability of their investments. It has been and can be applied even where the rules are non-discriminatory or when profits are made by causing public harm.

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