What is TTIP? Would it accelerate job loss and environmental decay, as some critics allege? Have free trade deals harmed American workers? Can globalization be humanized?
TTIP and like agreements are the trade agreements which are done among various nations for growth and development of economic zones like NAFTA, SAFTA, SAARK and other trade agreements are much famous in today’s business environment. The TTIP is an abbreviation of English Words as Transatlantic Trade and Investment Partnership. In actual sense, it is a proposed agreement between United States and European Union for growth and promotion of free trade among member countries. There are various divergent opinions of business experts regarding TTIP and its implantation.
The critics of this trade agreements say that it will promote monopoly of major multinational companies and will become a source of unemployment in America and its states whereas the other group of business experts say that it will become a good source of promoting free trade, the new horizons of manufacturing units will open, the barriers to international trade will remove and so on.
The allegations of critics of this free trade are also providing a strong base as the labor rate in European Union is cheaper as compare to America and there is danger of loss of jobs and environmental decay especially for United States and the American workers will be harmed to great extent.
The other aspect of this case study is either the globalization can present itself as humanized. The answer is controversial as some business experts state in its favor while others disagree from this opinion. It depends upon the nature of trade and business condition of a certain country and how they have deal with the concept of globalization and then it will operate accordingly either humanized or not.
I have come to my knowledge some precious source while make research of above topic which can be studied from following provided work cited sources:
Pollack, Mark A., and Gregory C. Shaffer. Transatlantic governance in the global economy. Rowman & Littlefield, 2001.
Akhtar, Shayerah Ilias, and Vivian C. Jones. “Proposed Transatlantic Trade and Investment Partnership (TTIP): In Brief.” Congressional Research Service, July 23 (2013).
Raza, Werner, et al. ASSESS_TTIP: Assessing the claimed benefits of the Transatlantic Trade and Investment Partnership. No. 10/2014. Policy Note, Austrian Foundation for Development Research (ÖFSE), 2014.