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Business Matters: Obama Interview on TPP Trade Pact

Obama 'Worked The Phones' To Make Pacific Trade Deal Happen

07/10/2015 GMT

Obama Interview on TPP Trade Pact

BBC World Service - Business Matters, Obama Interview on TPP Trade Pact

President Obama says he called prime ministers and presidents to build TPP support

President Obama tells of the efforts to create the world's largest free trade zone agreement.

President Obama, speaks to our US partner programme Marketplace, about the efforts to create the world's largest free trade zone agreement. The president insisted that his hand is strong and claimed that if the US does not take the lead in setting the rules of trade in the Pacific, then China will. But is this about his personal legacy?

Trickle-down economics is the idea that as people become richer in society, their wealth trickles down through trade to the poorest, creating a stable economy. But should it be the other way round? That is the focus of discussion at the annual meeting of the IMF in Lima, Peru. Their research suggests that countries would be more prosperous if the incomes of the poorest were lifted rather than those of the richest. Michelle Fleury has been to one of Lima's slums to find out how some of the poorest in society are struggling to make a living.

We look at the United States' latest attempt to close the salary gap between men and women - the Fair Pay Act - which was signed into law on Tuesday. We hear about the key provisions from California Senator Hannah-Beth Jackson, who proposed the bill and was therefore seeing all her work finally come to fruition.

All this and more discussed with our two guests on either side of the Pacific - Paddy Hirsch, senior editor at Marketplace in LA and  Jyoti Malhotra, Senior Writer on India Today, in Delhi.

(Photo: President Obama is interviewed on Marketplace. Credit: WH photo/Pete Souza)

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