I have a piece in Inside Story looking at the Trans-Pacific Partnership.
Summary: It’s bad, and our only hope is that the US Congress will block it.
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John Quiggin 
Prof. R.D. Wolff talks about the TPP starting just after 12 mins 00 secs in this talk.
http://www.rdwolff.com/content/global-capitalism-march-2015-monthly-update-0
He also talks about the concept of “odious debt” or “illegitimate debt” starting just after
20 mins 00 secs. This latter topic has implications for Greece and the EU.
@John Brookes
I think that if this was tested, that the High Court would probably view a TPP power as an incidental power, and there for Constitutional.
Particularly if the TPP is ratified by Parliament.
However it may be interesting to see whether clauses of TPP contradict ILO and Human Rights conventions etc.
The High Court may have to determine an issue if the Parliament ends up ratifying two instruments which have parts that cannot coexist.
@J-D
Yes, presumably that would be the sort of argument put forward by a party seeking to defend the hypothetical law implementing the hypothetical investor-state dispute resolution clause in the event that the hypothetical argument I suggested was put forward by a party opposed to the hypothetical law in a hypothetical legal challenge.
Good breeze for kite flying, today. 🙂