I am an expert on this deal, at least based on the amount of writing I've done on it compared to the amount of info about it out there and the best way I can summarize it is that it is probably the best bad deal out there. It is a corporate sell-off, but it is an American corporate sell-off. Obama is telling the truth, however, when he says that it's either we write the rules in Asia, or China will. Considering the research and chapter we wrote on US influence on Chinese business in 2000, it couldn't get much worse.
I know I sound like a shill, but as some of you know, I am by no means a corporate-whore. In fact, what is bad about it is that it is VERY pro-corporate. I am pretty confident though that there will be some major changes in the final fast-track regarding ISDS appeals and the "temporary copies" provisions among others. I don't think it will pass congress as-is, but even if it did, you have no idea (rhetorically) how much we already sold-out when we ended Most Favored Nation with China. We basically broke them off a nice chunk to entice them to play our game. Pretty much, any deal is a better deal already, and no deal is going to mean China's deal.