Of the countries geographically able to join the value-chain revolution, the ones that succeeded have agreed to low tariffs, introduction of Western-style peripheral services (express delivery, broadband, etc.), and a business-friendly legal regime, including submission to the Investor-State Dispute Settlement, which permits corporations to seek arbitration before multi-national bodies. (The prospect that the United States would wind up answerable to these bodies was the strongest argument against the Obama Administration’s Trans-Pacific Partnership [TPP], which the Trump Administration has now scuttled.) - SENDING JOBS OVERSEAS By: Christopher Caldwell (emphasis mine).
3 weeks ago