 ISDS fundamentally shifts the balance of power between investors states and the general public (Image by Public Citizen) Details DMCA | The most dangerous part of these new trade agreements, rarely mentioned, is called the Investor State Dispute Settlement (ISDS); allowing corporations to make a claim of injured profitability to binding arbitration. From the corporate point of view, the importance of "fast track" legislation is that it ties together the trade and ISDS parts of the TPP. We must separate this ungainly bundle into a trade part and an ISDS part and consider them separately. Once out in the light of day ISDS will perish. This is the outcome that "fast track" seeks to avoid.
In his 1776 pamphlet Common Sense, Thomas Paine wrote: "in America, the law is King. For as in absolute governments the king is law, so in free countries the law ought to be king; and there ought to be no other." Not the transnational corporate class becoming king, as with ISDS. |
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At thehill.com
At thehill.com
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