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state owned enterprises

State owned enterprises are deprecated as "monopolies" officially, a word which makes creating new ones FTA-illegal, except in dire emergencies in WTO members, The WTO (and also associated but separate agreements such as the US backed TISA which is supposed to be merged with the WTO GATS eventually) is attempting to privatize all of them eventually. So they are framed as a quasi-crime, a sort of theft of profitmaking entitlements from business. Similarly, that means all businesses everywhere, and their workers may be included in the entitlement, its not limited by country.

"Biden Cuts Social Security" (The Intercept) Actually, its the GATS agreement we signed more than two decades ago, and the TISA that they probably will revive soon that do it. Medicare is likely to get the same treatment too. See elsewhere on this site.

The Intercept (the destination of the link) doesn't mention this but GATS (and TISA, which is likely to be revived) makes all deregulation in committed services (like financial services) permanent (Yes, both are considered to be in competition with the banking and insurance industries - financial services) Making cuts so costly and difficult to reverse they will become permanent. This has been planned for a long time as shown by the trade literature. here is lots on this site. Voters should refuse to swallow this rigged Kool Aid. Oh, but everything that happens in the WTO is not subject to voting.

Urgent-Biden and Trump's Medicare and Social-Security traps for the unwary -proof below

NOTE: WORK IN PROGRESS, please forgive the state of this document, its still being edited and has redundant information! BUT its important, and verifiable fact. URGENT: Both US Presidential candidates have plans to make changes to our current Medicare and Social Security systems that WILL DESTROY THEM . Also commitments we made in the 1990s have put many tens of millions of our best and future jobs in jeopardy. And most deregulatory changes by either party lock in and cant be repealed. Many changes lock in. A little known trade agreement "GATS" literally dooms them unless we leave it immediately.

GATS Annex on Financial Services

This document potentially endangers the US's Social Security, Medicare and other safety net programs if they are partially privatized and compete with commercial entities. It is part of the GATS and its explained well by Patricia Arnold in her essay on GATS and Financial Regulation (Public Citizen). It contains a slightly different definition of 'services supplied as an exercise of governmental authority' than GATS Article 1:3 does, which applies in certain situations. To understand it you should also read Nicholas Skala's 2009 paper in the International Journal of Health Services and the Understanding on Commitments in Financial Services. You can also find a bit more material online if you search on the phrase "Fu Lung" or "Fu Lung Group" in the context of financial services+WTO or the Uruguay Round. It seems an effort is made to make information on FTAS difficult to find for outsiders.

GATS and Financial Services Deregulation by Patricia Arnold

Medicare, Social Security and other governmentally subsidized financial services are put in grave danger by the GATS - This paper by a noted professor in accounting who has written a great deal of highly readable material on the WTO and its interaction with financial regulation is a short and concise intro to many of the major issues, particularly the threats GATS poses to Social Security and Medicare if those areas are allowed to compete with commercial banks or insurers. Caution is needed because millions could see huge changes in their only retirement benefits just as they were needed the most if Social Security and/or Medicare lose their protection from GATS rules, which is likely if current proposals are implemented,- see the Annex on Financial Services.

GATS and Public Service Systems

This is a must-read article as its by far the most concise and understandable explanation of the "governmental authority exception" an all important "two-pronged test" or definition, that defines the scope of what is allowed to be a public service and what is not, in the GATS agreement. In other words, what is subject to privatization rules, and what isn't. This definition is also borrowed or imported, in the computer programming sense, "as is" into hundreds of other trade agreements all around the globe. So this essay is extremely useful in understanding which healthcare or higher education proposals could work (and which ones would be subjected to a death of a thousand cuts, and couldn't) for example. The essay was originally written and published by the government of British Columbia province in Canada.

Public Citizen: Medicare and Social Security - SOS: Save our Services from the WTO

Bottom Line: If the Bush administration succeeds in even partially privatizing Social Security, under the WTO GATS agreement foreign corporations could end up with treaty rights to raid our tax dollars for profit and Americans could face shredded retirement and Medicare safety nets. For now, Social Security is probably safe from the GATS because the agreement exempts services that are exclusively a government monopoly and are not also offered on a commercial basis. But if Social Security is even partially privatized — as the Bush administration is advocating — and folks begin to invest some of their federal retirement funds in the stock market, then GATS would require some things that the privatizers don’t want to talk about. The agreements would: * permit foreign and offshore firms to compete for private Social Security accounts, thus preventing the most stringent regulation of these accounts and increasing the risks to retirees; * make it harder to fix Social Security after the privatization experiment predictably fails, because GATS requires that nations first compensate all of their trading partners for lost future economic opportunity if they “take back” the service from the private sector and make it public again. * Failure to compensate would result in punitive trade sanctions, which is why some say GATS makes privatization a one-way street.