On February 1 this year the Britush goverment formally requested to join the Comprehensive and Progressive Partnership Agreement ( Think… the TPPA minus 1)
That’s right. Having moved out of Europe , having stuffed up its supply chains and having let Covid run rampant through the UK, Boris Johnson and his Conservative colleagues want to forget their country is bounded by the Atlantic and to move in on the Pacific.
Why?
Answer MONEY!
In 2019, the financial services sector contributed £132 billion to the UK economy, 6.9% of total economic output.
Financial Services – banking, insurance companies and the like is what drives the economy of the City of London which , a right wing brochure a couple of years ago declared that it should aim to be:Singapore on the Thames.
So one the things the British are seeking to do by joining the CPTPP to use the financial chapters of thhaat agreement as a gateway to the economies of 11 member countries (including our own )in order to plunder them.
Forget the idea that trade is about swapping butter and beef for cars and computers. As far as the UK is concerned the big bucks are to be made in turning 11 economies into financial supermarkets where they are free to pick and choose whatever they want buy and sell.
Their aim ? To make money out of their money.
Does that sound something that is going to be good for Aotearoa / New Zealand?
The last time a foreign currency swamped ours was when foreign investors from China started buying up our properties and bidding up house prices to the point where local folk could not afford them on what they earned each week.
Should the UK be allowed to join the CPTPP then next wave of overseas money to swamp our economy will be British.
If Covid has taught us anything it is that we need to build a self -sustaining economy not one dependent on money from the UK or anyone one else who want to manipulate our economy from computer on the other side of the planet
Bryan Bruce is one of NZs most respected documentary makers and public intellectuals who has tirelessly exposed NZs neoliberal economic settings as the main cause for social issues.
A valid point – Chinese money is still floating around in property investment. There is nothing else to invest in so logically this is where the majority of British money would go as well
Undoubtedly Jacinda and company will be falling over one another in the stampede to make this next piece treachery happen.
What is really interesting is to compare the Footsie with the Dow. Around 20 years ago the Footsie was around 6,000, and the Dow was around 12,000. Currently the Footsie is 6,600 and the Dow is 31,000.
The Greatest Bubble in History has been blown by the Fed, and it’s going to blow up soon, with worldwide repercussions.
‘Next Up: Global Depression’
https://www.oftwominds.com/blogfeb21/global-depression2-21.html
Senior New Zealand economist Bill Sutch wanted to make New Zealand a self sustaining economy protected from up and down swings of capitalism.
His reward was to be labelled a dirty commie and treasonous Russian Spy( because he openly believed in socialism and talked to Russians).
This mirrors the nuclear debate in that with the outside world we are just given a choice of big nations who will bully us. France attacked a ship in New Zealand while the USA and UK sat silent.
The fact is a sardine cannot compete with sharks and small nations cannot resist big nations. We could build a strong sustaining economy but we would have to completely change our political and economic philosophy to do so.
The good news is, the globalised system of looting and bullying is collapsing. The bad news is, we have a government of traitors and saboteurs, similar to all the other governments of traitors and saboteurs we have endured since 1974.
We should probably put a stop to the creation of money by the privately owned banks. There is always a demand for overseas money, from NZers who want to import stuff or travel overseas, but in these cases the quantity of overseas money coming in would be limited by that demand.
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