Who’s afraid of the big bad world? A look at the TPP and FTAs

OPINION: There has been political controversy over the free trade agreements (FTAs), especially with China, and the mooted regional Trans Pacific Partnership (TPP). Dry economists on the right don’t like “trade distorting” bilateral agreements (they don’t even like calling them ‘free trade’ agreements), whilst many on the left are concerned about trade agreements going too far, beyond reducing tariffs and quotas, and getting involved in social policy, labour standards and the provision of public goods.