[36erhefg]

Skipping the court system in case of disputes in favor of an arbitrage.

Let's say a country established a law that prohibits smoking. A company conducting business there (selling cigarettes), can complain based on the loss of future income. According to the bilateral agreement, they demand an arbitrage that is performed in secret by a third-party and is binding and final.

[dbcooper]

Tobacco has been excluded from Investors State Disputes Settlement provisions

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&o...

[manicdee]

Australia's PBS will be the first victim. The Pharmaceutical Benefits Scheme ensures that essentials medicines are available at reasonable prices, and that generics are also available.

This compromises future profits for companies that want to increase the price of certain drugs, for such purposes as making generics too expensive or simply ensuring maximum profit per dose manufactured.

Other examples could be environmental regulations which cause expenses that manufacturers and miners are unwilling to meet. Little things like pollution controls, national parks, marine sanctuaries and so forth.

The TPP also opens the path for US IP law to be imposed on Australia.

The ISDS does not specifically rule these out of contention. So they will be contended (cf: everything that is not illegal is mandatory).

Once the actual text is out, people might say, "the ISDS is such a small and insignificant part" but it is there for a reason. It will be abused, just as cigarette companies abused other FTA with Australia.

Why are you so dismissive of "the Chinese workers on the Chinese government projects took our jobs on Australian soil"?

[walterbell]

The tobacco exemption only underscores the danger, as there are many other health and environmental regulations to which companies may take exception. This site has lawsuit history from a cross-section of countries that were sued by companies in the health, energy, financial, environmental and essential-services sectors:

http://www.isdscorporateattacks.org/

[298219640]

Let's say a country established a law that prohibits alcoholic beverages...