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This article is a great one that suits this week's topic of economic development perfectly, because it includes both the financial information about the goals and reasons for the development trip, but it also exposes us to the political side of the development scene, as the truth of the matter is that many such deals depend upon political partnership as well.

United States proposed a Trans Pacific Partnership (TPP) with a goal of reaching a deal by year-end. The U.S. aims to discuss the trade deal with other nations during the World Trade Organization meeting. The TPP talks aim to establish a free-trade bloc that covers 800 million people, a third of world trade and accounting for 40 percent of the global economy. The goal is to promote remove trade protectionisms and also set standard for workers' rights, environmental protection and intellectual property rights. This article can be related to our topic this week as it involves trade protectionism. This TTP deal argues against protectionism measures as they believe the removal of protectionism will promote growth. For instance, Obama believes that more export will provide more U.S. jobs. On the other hand, opponents against the deal state that the deal will only provide multinational corporations powers against national policies in the name of free trade.

South Korea has moved closer to joining a 12 Nation trading pact which aims to slash trade barriers between nations which make up about 40% of world economy. Some of these countries that are already in the pact include United States of America and Canada.They are entering negotiations about possibly joining the TPP - The Trans Pacific partnership Trade pact.

The japanese government has started to consider removing tariffs from imported wine. This would mean other negotiatiors in the Trans-Pacific Partnership would also have to consider scrapping the tariffs on wine. The government believes that removing tariffs would greatly benefit the domestic consumers while also increasing sale exports from Japan. It will be interesting to see what Japan decides to do as it will have a great effect on the Japanese economy.