Currently - the President is working on a new Trans-Pacific Partnership trade pact to open up trading markets with eight Pacific nations. This morning - a critical document outlining new provisions in this trade deal was leaked - revealing the President stands behind giving foreign transnational corporations' unprecedented power to abuse American workers, pollute our environment, and destabilize our markets.
Under the agreement - American companies would have to comply with American law and any labor, banking, and environmental regulations. But foreign companies operating on U.S. soil wouldn't have to. Instead, they can appeal to an international tribunal that has the power to overturn laws passed by our Congress - and levy trade sanctions on the United States. In other words - if this trade deal passed then Americans laws would no longer apply to foreign business tycoons setting up shop in the United States.
This is yet another blow to American sovereignty - and the power of "we the people" to protect our commons and our workers. We're headed toward a nationless world where only transnational corporations rule - and they aren't exactly big fans of democracy or the middle class.
(Is there no end to globalization? Tell us here.)