Will Malaysia pull out of the CPTPP?

News via AFTINET reports that Malaysia’s new Prime Minister Dr Mahathir made a brief but stunning statement in a media conference in Japan, saying that he will review the Comprehensive and Progressive Agreement for Trans-Pacific Partnership or TPP-11. Web link: https://www.straitstimes.com/…/malaysias-pm-mahathir-calls-…

Dr Mahathir said he believes weaker economies like Malaysia are at a disadvantage under the current terms, "It is important to take into consideration the level of development of a country."

He said Malaysia would have little to sell and much to buy in a purely free trade environment. "Small, weaker economies must be given a chance to protect their products," said Mahathir.

What is interesting about this development is that it echoes some of what Nobel Prize Winning Economist Joseph Stiglitz told Bryan Bruce in an interview that he will post tonight on New Zealand Public Television. The interview will go online here www.nzptv.org.nz at 7.30pm this evening (Wednesday 13 June).

“We should not be rubber stamping a slightly changed TPP agreement that gives a lot of power to the world's big corporations and financial elites; we should be taking our time to develop a far more Progressive agreement now that the USA is out of the picture,” said Bruce.

“And if Malaysia DO pull out how will that affect the worth of the agreement New Zealand. Should a new, independent, national impact study be done?

If Malaysia demands changes to the CPTPP before they sign can we also demand changes to the agreement?” said Bruce.

© Scoop Media