Mining companies are already taking full advantage of these pacts.
Foreign companies can challenge national rules restricting arsenic,
cyanide, and other forms of pollution in global trade panels, and
governments have been forced to pay up for enforcing their own laws. As
El Salvador has learned through its attempt to outlaw gold-mining over
the objections of Canada’s Pacific Rim Mining Corp., the litigation
process is long, convoluted, and expensive.
The new trade deals
Obama is championing would make it even easier for global corporations
to override national laws that get in their way. For one thing, they may
override our Dodd-Frank Law on financial regulation. That would allow
international banks to “streamline” regulations and once again create
reckless new securities. PhRMA, too, is looking for friendlier
international regulations, even though it already uses NAFTA and other
accords to challenge patent laws it finds inconvenient.
http://www.bristolpress.com/articles/2013/09/29/opinion/doc52478d226d0d9572637873.txt
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