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.
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.