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TPP & TTIP Presentation

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Aanuoluwapo Afolabi

on 24 November 2016

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Transcript of TPP & TTIP Presentation

photo credit Nasa / Goddard Space Flight Center / Reto Stöckli
TPP & TTIP
:
WHAT'S
AT
STAKE?

1. Definition of TPP and TTIP & Members

2. Comparison between TPP and TTIP

3. Effects of TPP and TTIP & Non participation of China

4. Should Korea participate in TPP?

5. Questions for discussion
Members of TPP
ASIAN ECONOMY STATISTICS
Why USA not CHINA?
The original TPP was concluded by New Zealand, Singapore, Chile and Brunei on June 2005.


TPP includes 12 nations now (U.S.A, Canada, Mexico, Australia, Japan, Chile, Brunei, Singapore, Vietnam, Peru, Malaysia, New Zealand)

Brief History of TPP
2. Geopolitical Effects
What is TTIP
Brief History of TTIP
Contents
The
Transatlantic Trade and Investment Partnership (TTIP)
is a proposed free trade agreement between the European Union and the United States aimed to provide increase in economic freedom for corporations.


1990s – Focused on economic Integration and reducing economic friction
- Transatlantic Free Trade Area (TFTA)
- EU proposed New Transatlantic Agenda
- Mutual Recognition Agreement

2007 - Transatlantic Economic Council

2013 – EU & U.S’ intention to begin negotiation about TTIP

Present State of TPP & TTIP

TPP

12 nations including U.S and Japan estimate that ongoing TPP is bright aspect to liberalization of world trade.
Korea and Taiwan is potential member

TTIP
Clarity problem between EU & USA

Home to 40% of the world’s population

Produces nearly 60% of global GDP and includes some of the fastest growing economies in the world

If completed, the TPP would be the largest U.S FTA to date by value

1. ECONOMIC EFFECTS

a. Pathway towards FTAAP (Free Trade Agreement of the Asia-Pacific Region)

b. Service trade growth because there is limited data on services trade with Brunei, Peru and Vietnam

c. Lead to increased opportunities for growth for American small business exporters

Why USA not CHINA?
According to the Asian Development Bank, New Zealand, Mexico and Malaysia would likely benefit the most from a successful agreement
TPP gains will be small for America


THEN WHY DO IT?



To contain rising Chinese influence in the Asia Pacific region
China is also promoting a Sino-centric bloc, the Regional Comprehensive Economic Partnership (RCEP)

- In terms of the total GDP and job creation,
TTIP is higher than TPP



a. Countries’ participation expands the production networking of TTIP
b. TPP has a wider variety of TTIP economic / industrial structure
c. Promote industrial structure facilitates

EFFECTS OF
TTIP
ON GLOBAL ECONOMY
(FOR)
Production networks and industrial structure

1. Assert global trade policy and advance a rules-based system for the global governance.

2. Increase the size of the EU economy around 120billion pounds (or 0.5% of GDP) and the US by 95billion pounds (or 0.4% of GDP)

3. The GDPs of high income OECD economics (minus the US and EU) are found to gain collectively as much as 36 billion pounds and low income countries would see GDP gains of some 2.4billion pounds

4. Simply put, The benefits to the EU and US will not be achieved at the expense of the rest of the world.

(Centre for Economic and Policy Research)

1. The high income OECD economies will face an impact that is almost unprecedented from a trade agreement

***For example, Canada will have a GDP decline of 9.5%, Australia -7.4%, Japan -6%

2. Simply put, The benefits to the EU and US will be achieved at the expense of the rest of the world.

(IFO Institute for Economic Research)

EFFECTS OF
TTIP
ON GLOBAL ECONOMY
(AGAINST)
Macroeconomic effects

TTP

1. TPP is a high level of liberalization than TTIP wider coverage of expected
Under the US-led relatively likely to be concluded in early

2. The Korea Economic impact of TPP and TTIP depend on content and timing of the settlement

3. TPP has already led the US and the FTA fermentation
(March 2012)

TTIP

1. Bilateral trade and investment enlargement
a. Non-tariff Elimination Effect
b. Tariffs
c. Liberalization of trade in services

2. The reorganization of the global economic system
a. Accelerate the spread of free trade agreements
b. Irritation or disabling of multilateral trade negotiations
c. Growing of the Western economies

Korean government’s stand

KOREAN Government is interested in TPP

Korea government agreed to fulfill Korea- US FTA before TPP

Korea started pre-negotiation with TPP countries

Korea wants to reinforce advantages from FTA
-> make an TPP agreement early to be a rule maker.

Korean stand: FTA and TPP

The Trans-Pacific Partnership(TPP) is a proposed expansion of the 2005 from 4 nations system
It seeks to manage trade, promote growth, and regionally integrate the economies of the Asia-Pacific region.
What is TPP
Production networks and industrial structure

Market Scale/Growth

- In terms of the total GDP and job creation,
TTIP is higher than TPP



a. Countries’ participation expands the production networking of TTIP
b. TPP has a wider variety of TTIP economic / industrial structure
c. Promote industrial structure facilitates



1. TPP is a high level of liberalization than TTIP wider coverage of expected
Under the US-led relatively likely to be concluded in early

2. The Korea Economic impact of TPP and TTIP depend on content and timing of the settlement

3. TPP has already led the US and the FTA fermentation
(March 2012)

Macroeconomic effects

Macroeconomic effects


1. Bilateral trade and investment enlargement
a. Non-tariff Elimination Effect
b. Tariffs
c. Liberalization of trade in services

2. The reorganization of the global economic system
a. Accelerate the spread of free trade agreements
b. Irritation or disabling of multilateral trade negotiations
c. Growing of the Western economies

TPP
VS
TTIP
TPP
TTIP
The Present of TPP & TTIP
TPP
12 nations including U.S and Japan estimate that ongoing TPP is bright aspect to liberalization of world trade.
Korea and Taiwan are potential members

TTIP
Clarity problem between E.U & U.S.A


Thank You
korea rival trade nation:Japan

Japan's major trade products are competitive to Korea
that's why politicians say we have to participae in TPP now to defend Japan
Full transcript