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© (c) Copyright Thomson Reuters 2018.Australia open to UK joining TPP after Brexit
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© (c) Copyright Thomson Reuters 2018.
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dcog9065
I’m just not sure how much value Britain could bring to the TPP. Especially after leaving the EU, I just don’t think they offer too much
M3M3M3
Of course Australia is open to this because it would likely be a massive gain for Australian investment bankers and lawyers.
If Britain joins the TPP, many global investors in Britain (including European companies) will want to structure their UK investments through subsidiaries in countries like Australia to take advantage of the ISDS provisions in the TPP. These are the private courts that allow companies to sue the government for lost profits due to changes in the law or environmental and safety regulations, etc. It's great news for Australian bankers and lawyers, but maybe not so much for British taxpayers or British democracy.
A similar boom is happening in Canada where it now makes financial sense for US companies to make investments in the EU through a Canadian subsidiary because Canada has the CETA agreement with the EU while the US has no agreement and no protections.
Luddite
Bad idea. Why not join a market nearer home, Europe perhaps, where there is a single market and..... er, hang on a minute.......
Civitas Sine Suffragio
Good idea. Strong ties of language, culture, blood should be exploited.