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The Pros And Cons Of Australia Joining The TPP

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Introduction:
After five years negotiation, Australia as the twelfth country, finally joined the TPP at this October. The prime minister of Australia, Malcolm Turnbull said(http://www.smh.com.au/federal-politics/political-news/malcolm-turnbull-welcomes-tpp-as-gigantic-foundation-stone-for-economy-20151006-gk2fko.html) : “It is a gigantic foundation stone for our future prosperity.” However, Australian Super chairman Heather Ridout said：“the country "will regret" signing away sovereignty over government policy in the Trans-pacific Partnership agreement.”(http://www.afr.com/news/economy/trade/tpp-australia-will-regret-signing-away-rights-says-heather-ridout-20150701-gi28e7 )
What is PPT?
Historically, the TPP is an expansion of the Trans-Pacific Strategic Economic Partnership Agreement, which was signed by Brunei, Chile, New Zealand, and Singapore in 2005. Beginning in 2008, additional countries joined the discussion for a broader …show more content…
For joining TPP, Australia made some compromise in the negotiation.
The main benefits of TPP for Australia are the increase of agriculture export and lower cost of multinational service: …show more content…
However, based on the research of Peterson Institution for International Economics, TPP has a very limited help on Australia economy, because none of the top three GDP growing fast country in Asia- China, India and Indonesia are included in the TPP. At the same time, the total amount trade size of China, India and Indonesia with Australia, is higher than the total amount of all TPP countries trade size with Australia. The highly free trade policy, such as ISDS, may block the new policy publishing. Otherwise, these multinational corporations have the rights to sue the government. Government may lose their control in some

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