The TTP Pacific trade deal: the developed countries are the winners, and the developing countries are the losers.

The TTP Pacific trade deal: the developed countries are the winners, and the developing countries are the losers.

Trade barriers will be reduced. This act will seem beneficial to the developing countries; however, it will limit the potential of the developing countries. The developed countries have the dominating advantage of advanced technology; thus, the developing countries will rely on the developed countries’ technology output, and lose their technology development. Moreover, the enforcement of labour standards will also weaken the developing countries’ comparative advantage of low labour costs. The developed countries like US, Japan and Australia are the winners of this deal; and the developing countries are the losers.