It sounds like science fiction: "the giant corporations and the billionaires behind them ... are negotiating among themselves the rules for world corporate domination in the 21st century." But this is really happening.
Another secret trade deal has leaked to WikiLeaks and it looks as if it is one more effort to lock into law the interests of certain already-huge corporations above the interests of governments, their citizens and potentially competing businesses.
As with leaks from the secret Tran-Pacific Partnership negotiations, this leak shows that the largest corporations are working to bypass recent efforts by governments to rein them in by pushing through “trade” agreements that override their ability to write their own laws and regulations.
This time the leak is the “Financial Services Annex” of the Trade in Services Agreement (TISA). It shows that the TISA negotiations are an effort to not only undo the minimal regulation of Wall Street that occurred after the financial crash, but to further deregulate financial markets worldwide. As WikiLeaks words it, “Despite the failures in financial regulation evident during the 2007-2008 Global Financial Crisis and calls for improvement of relevant regulatory structures, proponents of TISA aim to further deregulate global financial services markets.”
TISA is a huge “trade” agreement that covers the services sector, which includes audiovisual; finance; insurance; energy services; transportation, logistics, and express delivery services; information technology services; and telecommunications. TISA currently has 50 countries participating in the negotiations...
... participating governments “will: be expected to lock in and extend their current levels of financial deregulation and liberalisation; lose the right to require data to be held onshore; face pressure to authorise potentially toxic insurance products; and risk a legal challenge if they adopt measures to prevent or respond to another crisis.” [emphasis mine]
...corporations are working to bypass recent efforts by governments to rein them in by pushing through “trade” agreements that override their ability to write their own laws and regulations.
Yeah, corporations want to put their stuff into treaties so it prevails over stuff enacted by legislatures they almost own.