Remarkably, the Australian government has given Chinese companies a general right to buy resources and other assets in Australia – so-called market access – without getting the same right for Australian companies in China.
A new dump of leaked secretive trade deal documents on WikiLeaks reveals an international agreement could prevent future Australian governments from introducing regulations around licensing, qualifications and technical standards, the Sydney Morning Herald reports.
The Central American state of El Salvador could be forced to pay US$301 million in damages to an Australian-Canadian mining company, OceanaGold, after the company’s application for a mining license was rejected on the basis of the projected environmental damage it would cause.
Australia’s medicine subsidies, Canadian films and culture, and capital controls in Chile would be carved out from investment protection rules being negotiated in a Pacific trade pact, according to a draft text released by Wikileaks on Wednesday.
Australia’s primary negotiator on medicines for the US-Australia FTA, Dr Ruth Lopert, warns that the TPP could force the Australian Government to spend hundreds of millions of dollars to subsidise medicines.
Thanks to tobacco industry regulations and marketing restrictions in the US, smoking rates have dropped dramatically. John Oliver explains how tobacco companies are keeping their business strong overseas.
Squire Patton Boggs has successfully defended the Republic of Estonia against a US$100 million investment treaty claim brought by Estonian water provider AS Tallinna Vesi and its Dutch shareholder United Utilities.