Trans-Pacific Partnership? Pretty Pointless Pal. February 23, 2013Posted by geoff in News.
Another of the President’s proposals from his State of the Union Address:
47. Boost exports, complete negotiations on Trans-Pacific Partnership
“To boost American exports, support American jobs and level the playing field in the growing markets of Asia, we intend to complete negotiations on a Trans-Pacific Partnership.”
Well, per their website, it’s our chance to: “…boost U.S. economic growth and support the creation and retention of high-quality American jobs by increasing exports…”
There’s just one leetle problem with the plan. Just one minor catch. A slight bump in the road, if you will. A gnat in the proverbial ointment. A…
Anyway, here are the Asian members of the TPP:
- Singapore (2012 Exports = $36 billion)
- Malaysia (2012 Exports = $13 billion)
- Vietnam (2012 Exports = $4.6 billion)
- Brunei (2012 Exports = $0.2 billion)
So let’s say that we doubled the exports to those countries overnight, which would take huge chunks of their economies, but whatever (Exports to Singapore, for example, are already 13.5% of their GDP). And let’s assume that none of our TPP partners (like Canada, Australia and Mexico) encroach on our exports. Yep, that would be $54 billion, or 0.3% of our GDP. Even in that unlikely scenario, the result is insignificant.
This isn’t Obama’s only export-related proposal, but it wasn’t worth mentioning.