For Canada, Trans-Pacific Partnership May Be Worst-Ever Agreement

Agreement favours US, would limit Canadian innovation

#Politics

Mon, Nov 9th, 2015 10:00 by capnasty NEWS

Jim Balsillie, of RIM fame, warns that the Trans-Pacific Partnership — which reportedly forces everyone to play by the rules set by the United States — not only will leave Canada as a "permanent underclass" on intellectual property, but may possibly cost it "hundreds of billions of dollars" in economic stagnation. Balsillie calls this "the worst thing that the Harper government has done for Canada." It is unclear how the new Liberal government will tackle this.

Balsillie’s concerns about the deal include how it would impose intellectual property standards set by the U.S., the biggest partner in the treaty.

He fears it would give American firms an edge and cost Canadian companies more money because they would have to pay for someone else’s ideas instead their own.

On top of that, Balsillie believes the structure could prevent Canadian firms from growing as it would also limit how much money they can make from their own products and services.

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