Existing regulatory differences mean that to date value chains have been somewhat regionally confined and sometimes product-specific value chains compete with each other. In the end, it is mostly the country where a product is finally consumed that decides what regulations will apply to it. This is what makes the TTIP project so important: it would combine the two biggest consumer markets of the world and therefore would set the standards for global production. The TTP in the Pacific would have a similar reach and can hence be regarded as a competing project. Both projects compete, moreover, with the emerging market in China which is excluded both from the TTP and TTIP.
This sounds all like pretty rational behaviour with some geopolitical skirmishing added. So, what is so scandalous about it? It's democracy stupid!
It's democracy stupid! | Global Greens
http://www.globalgreens.org/news/its-democracy-stupid