mandag 27. september 2021

China will likely fail in its CPTPP bid — but it’s a ‘smart’ move against the U.S., say analysts

China said it applied to join CPTPP, an 11-nation trade pact formed in 2018 after the U.S. withdrew from the Trans-Pacific Partnership a year earlier. Beijing needs the approval from all 11 CPTPP signatories to join CPTPP, and it may not succeed given its strained relationships with some member countries, said analysts.

Beijing may also have difficulties fulfilling the mega trade pact’s demands for a level playing field in areas such as state-owned enterprises, labor rights and cross-border data flows, said analysts.
Nevertheless, China’s application to join CPTPP stands in contrast to the U.S.′ lack of economic policy in Asia-Pacific, analysts said.