Another country with a gross domestic product (GDP) a fraction of that of the United States is about to jump on board the Trans-Pacific Partnership (TPP).
The Wall Street Journal reports that South Korea will soon consider joining the much maligned, super-secret trade pact.
In the article, South Korea’s Finance Minister Hyun Oh-seok is quoted as saying that his country “needs to first show its interest in the TPP.” Accordingly, trade representatives from South Korea will reportedly make overtures to their counterparts in the countries already signed on to the agreement.
The Wall Street Journal write-up of the potential partnership mentions that the TPP “would create a free-trade bloc that makes up nearly 40% of the global economy.”
That number seems to be accurate, but the statistics behind that figure reveal just how unfair this "fair trade" agreement is when viewed from the point of view of the United States’ economic strength relative to the other would-be TPP participants.
In September, the World Bank released the GDP rankings for every country in the world. The data for the 12 TPP partners, China, and South Korea (both Asian nations are considering appealing to join the TPP before year’s end) are provided below:
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