TPP Talks, Big Data, and Greenpeace Confessions
Here’s What You Need to Know
The United States has withdrawn from the Trans-Pacific Partnership (TPP), but that does not necessarily mean the deal is dead. Indeed, the void in the Asia-Pacific trade market left by U.S. withdrawal is not likely to remain unfilled for long. Next week, on March 14-15, Chile will host a trade summit that will include all members of TPP, the Pacific Alliance, China, and South Korea.
The topics of discussion will be what future TPP may have without the United States, and more broadly, what does the future of trade look like in the Asia-Pacific region.
- Can TPP Continue? The key question of the Chile summit will be whether or not the massive bilateral trade agreement can forge ahead without the steady hand of the United States guiding it. While many of the agreement’s participants would like to see it proceed, none have been as vocal in this effort as Australia. Prime Minister Malcolm Turnbull has already publicly stated a willingness to allow China to join the deal, essentially filling the literal void left by America’s withdrawal.
- China Is Stepping In. The universe abhors a vacuum, and whether China will move to fill the void in leadership in trade relations in Asia no longer appears to be a question. At the summit in Chile next week, China is expected to push for a focus on the Regional Comprehensive Economic Partnership (RCEP) in place of TPP. RCEP is a preexisting proposed free trade agreement between the majority of the nations within the TPP agreement and several more Asian nations. One key signal of a Chinese victory coming out of Chile would be a move toward RCEP in place of TPP.
- American Involvement: The United States has announced it will be sending a representative to the meetings in Chile next week, but has yet to name that individual since President Trump’s nominee for U.S. Trade Representative Robert Lighthizer has not yet been confirmed for the job. Who the Administration decides to send to the meeting will give important insight into whether they are going to seek to help lead the conversation in Chile. But, given the topics of conversation at the summit and the Administration’s current positions, it does not seem likely the U.S. will be playing a major role.
News You Can Use
BIG DATA GOES LOCAL
The Associated Press and Data.world – an online platform for hosting and collaboratively analyzing data – have joined forces to help equip local reporters with granular facts and figures on their communities. This is a concerted effort by AP to give local reporters critical information to help better support their stories and give their reporting more context. The platform offers local journalists access to large collections of records and insights that they can fit to their stories and audiences. The new system aims to provide local journalists with added flavor for their current stories and give them fresh ideas for new ones. But, like all data, it can be manipulated by those looking for more “evidence” to fit a narrative; as the saying goes, “Statistics don’t lie, but liars use statistics.”
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HACKED LATELY?
This week, Bloomberg reported the Center for American Progress (CAP) was among several liberal advocacy groups and think tanks that had been victimized by Russian hackers who demanded large ransoms for promises to not release embarrassing internal emails and documents. CAP’s president Neera Tanden, however, flatly denied the claim and tweeted, “This story is wrong as it relates to CAP. We have been neither hacked nor faced any ransom.” This means either Bloomberg or Tanden are being dishonest, putting into question whether the left was really hacked, and whether anyone was actually extorted. Whatever details eventually come to light, the confusion surrounding these claims highlights efforts to push a narrative of rampant Russian hacking of Democratic institutions. There are clearly legitimate attacks occurring by Russian hackers, but it seems this story either misled its readers or failed to confirm its facts with the relevant parties. This seems to be the result of a rush to break a story on the week’s new Russian hacking scandal.
VIDEO KILLED THE TV ADVERTISING BUDGET
A new study by the Consumer Technology Association found video viewership has increased more than 30 percent over the past five years. But, almost half of all that video is being viewed on devices other than televisions. This near 50-50 split in video consumption between TV and devices like computers, tablets, and smartphones is a major shift in the marketplace. Only four years ago, 62 percent of video was viewed on televisions. These figures have led experts to predict 2017 will be the first year digital advertising spending eclipses TV advertising spending. Despite these predictions, digital video advertising is still being predominately produced in a horizontal format rather than the vertical format better suited for smartphones and similar devices. How advertisers adapt in the targeted world of digital video and how consumers react to more exposure to ads on their devices will dramatically change the shape of information consumption habits.
BROTHER CAN YOU SPARE $500?
Last week, the CEO of Assurant, a company that offers insurance for consumer products like cell phones and home appliances, made this startling claim while speaking about the growth of his business on Bloomberg TV: “The reality is, half of Americans can’t afford to write a $500 check.” The claim shocked some, but a recent Bankrate survey confirmed 57% of Americans don’t have enough cash to cover an unexpected $500 expense. Even though the official end of the recession was over seven years ago, this figure shows that the economic recovery has done nothing to help those with massive loan debts, those who live paycheck to paycheck at lower wage jobs, and those who have left the work force altogether and live off government safety nets.
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OUR BRAND IS OUTRAGE
A number of staunchly conservative and liberal blogs have been traced back to one entity whose only goal appears to be profiting off manufactured outrage on both sides of the aisle. After noticing blog posts from “Liberal Society” and “Conservative 101,” whose content was almost identical, Buzzfeed tracked several hyper partisan fake news headlines – like “WOW, Sanders Just Brutally EVISCERATED Trump On Live TV. Trump Is Fuming,” and “Nancy Pelosi Just Had Mental Breakdown On Stage And Made Craziest Statement Of Her Career” – back to an entity called American News LLC. This company owns many partisan news websites and runs a number of widely-shared Facebook pages that amplify their webpages’ clickbait articles. The company did not offer any comments when these connections were reported. But, this story confirms companies are out there manufacturing completely fake news to feed the partisan hunger of liberals and conservatives and get more clicks and views, which can turn into easy monetization.
CONFESSIONS OF A GREENPEACE TARGET
Richard Garneau, president and CEO of Resolute Forest Products, recently wrote an op-ed on his experience as a target of the radical environmentalist group Greenpeace. The group assaulted the company and its partners in the press, online, and during in-person events with false claims about their forestry practices. Resolute sued Greenpeace for defamation and intentional interference with economic relations, forcing the activist group to actually defend their claims in court. During these proceedings, Greenpeace representatives were forced to admit that their accusations against companies “do not hew to strict literalism or scientific precision,” and were instead, “hyperbole,” “heated rhetoric,” and “non-verifiable statements of subjective opinions.” This case has received praise from business leaders as a major breakthrough for companies who find themselves victims of unfair attacks by activists. It also shows that knowing the facts and defending them while exposing activists’ misleading claims is a winning strategy for companies.