One of the largest and most comprehensive trade agreements in the world may soon get even bigger. We’re talking about the Comprehensive Progressive Trans-Pacific Partnership (CPTPP), an 11-country pact that the United Kingdom has officially expressed interest in joining. Below is a primer on the CPTPP, why it’s important and what we should expect in the days and months ahead.
The unfortunate layoffs this week of over 200 Bell employees have served as a reminder of how large corporations are able to game the system and take windfall profits off the back of taxpayers while small businesses across the country struggle to keep the lights on. This came hours after the conclusion of Bell’s annual Bell Let’s Talk, a corporate social responsibility campaign aimed at increasing the company’s heart-share among Canadians by encouraging conversations about mental health.
Earlier this week the Biden administration once again made protectionism official U.S. trade policy in issuing the Executive Order on Ensuring the Future Is Made in All of America by All of America’s Workers. Of course this is not new. Whether Republicans or Democrats occupy the White House, protectionism remains good politics as it has since the first Buy American policy came to be in the 1930s. Of course, history shows clearly that this very protectionism exacerbated the negative effects of the Great Depression. But as the saying goes, those who do not learn from history are doomed to repeat it. So here we are.
If you’ve read the news in the past couple of weeks, or been keeping up with the memes on social media, you’ll have heard something about Reddit, angry hedge funds, a supposedly dying video game retail company, and all the hot takes that come with these types of events. First, the facts. On the site, the r/WallStreetBets forum went on a hunt for companies with heavy hedge fund bets against them. GameStop, the world’s largest video game retail store, battered by the move to online sales and failed investments into other areas, ended up being the home run.