ATLANTA – The Trans-Pacific Partnership (TPP) currently undergoing hot debate in Congress, and a high priority for President Obama, won’t have as large of an impact on the U.S. economy in the short term as feared by some critics, a Georgia State University international business expert said.
S. Tamer Cavusgil, professor and Fuller E. Calloway Professorial Chair of international business at the university’s J. Mack Robinson College of Business, is available to talk about the economic impacts and trade ramifications of the TPP. His contact information is in the contact box above, available to logged in, registered reporters with Newswise.
He directs the university’s Center for International Business Education and Research (CIBER), and specializes in internationalization of firms, global strategy, emerging markets and buyer-seller relationships in cross-border business.
Cavusgil said that because of existing free trade agreements, such as the North American Free Trade Agreement (NAFTA), the impact to the American economy, especially in manufacturing, would most likely be minimal.
“We already have negotiated those agreements many years ago,” he said. “The new big market that will open will be Japan. In the overall scheme of things, economists estimate that [TPP] may impact the U.S. gross domestic product by less than a percent a year -- .4% percent.”
Criticisms, he said, are exaggerated.
“These economic integrations have taken place because of globalization anyway,” Cavusgil explained. “It’s an irreversible trend.”
The agreement, if passed, will actually provide benefits globally, including resolving disputes over intellectual property rights and safety standards for workers.
“If we can level the playing field as far as standards go, I think that will be a good thing,” Cavusgil said.
For more about the professor, visit http://robinson.gsu.edu/profile/s-tamer-cavusgil/.
RSS