TPP

I realized that I wasn't clear yesterday about the enormity of the TPP  (AFAWCT). It's not like the WTO enforcing " "anti-dumping" rules, or setting limits on tariffs.

Article 12.4: National Treatment

1. Each Party shall accord to investors of another Party treatment no less favourable than that it accords, in like circumstances, to its own investors with respect to the establishment, acquisition, expansion, management, conduct, operation, and sale or other disposition of investments in its territory.

2. Each Party shall accord to covered investments treatment no less favourable than that it accords, in like circumstances, to investments in its territory of its own investors with respect to the establishment, acquisition, expansion, management, conduct, operation, and sale or other disposition of investments.

The treatment to be accorded by a Party under paragraphs 1 and 2 means, with respect to a regional level of government, treatment no less favourable than the most favourable treatment accorded, in like circumstances, by that regional level of government to investors, and to investments of investors, of the Party of which it forms a part.]

Article 12.5: Most-Favoured Nation Treatment

1. Each Party shall accord to investors of another Party treatment no less favourable than that it accords, in like circumstances, to investors of any other Party or of any non-Party with respect to the establishment, acquisition, expansion, management, conduct, operation, and sale or other disposition of investments in its territory.

2. Each Party shall accord to covered investments treatment no less favourable than that it accords, in like circumstances, to investments in its territory of investors of any other Party or of any non-Party with respect to the establishment, acquisition, expansion, management, conduct, operation, and sale or other disposition of investments.

Angry Bear via Yves Smith

This isn't a deregulatory, or, FTM, a free trade regime.  The most favorable regulatory environment for "non-Party"  and "Party" investors applies. That is, a loose regulatory regime for fracking, but a strong regulatory regime for copyright or patents. Mickey is protected from infringement everywhere, because the US protects him, and drug manufacturers in India are forbidden to produce compounds that cure the sick without a patent license.

It's worth noting that "intellectual property" was a key reason for the failure of the Doha round....