TPP

Question 1

TPP stands for

Answer 1

trans pacific partneship

Question 2

no of countries & their percentage of world economic output

Answer 2

12

40%

Question 3

some of the main countries

Answer 3

Japan, Australia, USA, Vietnam, Canada, New Zealand

Question 4

what does the USA pulling out symbolise?

Answer 4

protectionist measures- they feared it would help large companies and undercut domestic firms

Question 5

collective population of countries

compared to European single market

Answer 5

800 million

almost double

Question 6

why did USA try to pul out- which industries

Answer 6

manufacturing and agricultural industries would have tariffs reduced or got rid of completely- made very vulnerable

Question 7

Australia and New zealand

Answer 7

WINNERS- big food exporters

98% of food taxes removed

other countries which are beef farmers also gain entry into japan, Canada and mexico markets

Question 8

Vietnam

Answer 8

WINNER- predicted to boost growth by 11% in next 10 years

firms move factories there- low wage country

cons: exploit workers?

Question 9

Japan

Answer 9

WINNERS- Honda and Toyota- cheaper access to large consumer market in USA

Can get cheap parts in from other Asian countries involved in TPP

Question 10

US

Answer 10

vehicle exports could grow as high as 70% in growing emerging markets such as Vietnam

Question 11

Issues for developed countries

Answer 11

jobs leaving developed countries and being sent to countries with lower wages and less strict labour laws

Question 12

issues for less developed countries

Answer 12

Will mean they have to abide by international labour laws e.g. minimum wage introduction

Question 13

Will TPP go through

Answer 13

USA pulled out but may re-enter

without USA, Japan see it as “useless”- loses 250 million consumers