The Japan-led Trans-Pacific Partnership (CPTPPA) of 2018 is the
most far-reaching 'megaregional' economic agreement in force, with
several major countries beyond its eleven negotiating countries
also interested. Still bearing the stamp of the original US
involvement before the Trump-era reversal, TPP is the first
instance of 'megaregulation': a demanding combination of
inter-state economic ordering and national regulatory governance on
a highly ambitious substantive and trans-regional scale. Its text
and ambition have influenced other negotiations ranging from the
Japan-EU Agreement (JEEPA) and the US-Mexico-Canada Agreement
(USMCA) to the projected Pan-Asian Regional Comprehensive Economic
Partnership (RCEP). This book provides an extensive analysis of TPP
as a megaregulatory project for channelling and managing new
pressures of globalization, and of core critical arguments made
against economic megaregulation from standpoints of development,
inequality, labour rights, environmental interests, corporate
capture, and elite governance. Specialized chapters cover supply
chains, digital economy, trade facilitation, intellectual property,
currency levels, competition and state-owned enterprises,
government procurement, investment, prescriptions for national
regulation, and the TPP institutions. Country studies include
detailed analyses of TPP-related politics and approaches in Japan,
Mexico, Brazil, China, India, Indonesia, and Thailand. Contributors
include leading practitioners and scholars in law, economics, and
political science. At a time when the WTO and other global-scale
institutions are struggling with economic nationalism and
geopolitics, and bilateral and regional agreements are pressed by
public disagreement and incompatibility with digital and capital
and value chain flows, the megaregional ambition of TPP is
increasingly important as a precedent requiring the close scrutiny
this book presents.
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