US and China Can Work Together on Asia Pacific Trade Arrangement

Dozens of policymakers and multinational CEOs gathered in Tokyo on May 16 to attend the Wall Street Journal CEO Council meeting for a high-level discussion about the most concerned issues such as globalization, free trade agreement, TPP and the Korean Peninsula situation.

It is the first time ever that the Wall Street Journal CEO Council held its annual meeting in Asia. The participants include Japanese Prime Minister Shinzo Abe, Secretary of State for International Trade at the U.K. Parliament Liam Fox, Former US Assistant Secretary of State for East Asian and Pacific Affairs Kurt Campbell, Former United States Trade Representative Charlene Barshefsky, and Former Chinese Vice Minister of Commerce Long Yongtu.

As the only representative of think tank from China, CCG(Center for China and Globalization) President Wang Huiyao delivered a keynote speech and participated in the dialogue about the prospect of free trade agreements in Asia Pacific. He believes it is a mistake that the Obama administration kept China outside of TPP and it is high time to make a change.

Since US President Trump has softened his attitude towards NAFTA, Wang pointed out the possibility that the United States may return to the negotiation for the free trade agreements in Asia Pacific. In addition, if President Trump would indeed like to start a dialogue with the Democratic People’s Republic of Korea, China “can make help to make that happen,” Wang says.

When asked about the Belt and Road Initiative by the Wall Street Journal, Wang emphasized that it was initiated by China but it doesn’t belong to China. Instead, the whole international communiy should be encouraged to contribute their ideas and actions and share the benefit from it.

China will be dedicated as always to boosting economic globalization and promoting free trade and international cooperation, Wang added.