By Shaun Liew

Trade agreements aim to liberalize the flow of goods and services between nations, and the Trans Pacific Partnership (TPP) is “the cornerstone of the Obama Administration’s economic policy in the Asia Pacific”. It is the most substantial trade agreement in the Asia-Pacific region involving 12 countries including Malaysia, Mexico, Japan, and the U.S, and representing almost 40 percent of global output and 25 percent of global exports. “Free trade is good,” say all economics textbooks used in universities. However, what is rarely brought up is that tariff and non-tariff barriers can make all the difference in how a country reaps the gains from free trade. Malaysia’s fourth Prime Minister, however, is well aware of the traps inherent in trade agreements. In Dr. Mahathir’s words

Source: Why the Trans Pacific Partnership (TPP) is overrated | Free Malaysia Today

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