Home>Top Issues

Asia-Pacific trade: opportunities exit alongside challenges

Wednesday,Mar 15, 2017



With U.S president Trump’s decision to withdraw, the long-prepared Trans-Pacific Partnership (TPP) stranded, which sparks heated debate and discussion over its influence in the Asia-Pacific region. Meanwhile, the U.S. exit and its several newly-issued trade policies also arouse people’s concerns. They worry about the advent of broader backlash against free trade and globalization.

As world’s two biggest economies, China and U.S. play the pivotal role in the Asia-Pacific region, and also experience the growing economic interdependence. In the present situation, a Chinese high-level think-tank, the Center for China and Globalization (CCG) held a conference on March 13, discussing the coexisting opportunities and challenges in Asia-Pacific region and looking ahead the prospect of Asia-Pacific trade.

At the conference, Wendy Cutler, Vice-President of Asia Society Police Institute (ASPI), and former American representative at TPP negotiations, shared ASPI’s latest report over the Asia-Pacific trade. Ms Cutler said that regional trade agreements offered the best path forward to liberalize trade, raise standards, and promote broad reforms. All deals should be comprehensive and WTO-consistent, incorporate high standards and enumerate clear accession provisions to encourage greater regional integration.

In light of U.S. withdrawal from TPP, Ms Cutler also gave several suggestions, including advancing high standards, pursuing complementary opportunities for liberalization and rebuilding support for trade amid growing skepticism over globalization.

Other guests also exchanged their views and opinions over TPP and trade in Asia-Pacific region in the conference. Long Yongtu, Chairman of CCG and former Vice-Minister of Commerce of China, highlighted the importance of international trade for economic growth and creating jobs.

Voices of TPP being designed to threaten China are frequently heard, but Long Yongtu refuted that such information is misleading. Just as China’s Prime Minister Li Keqiang said at the Boao Forum for Asia, China holds an open attitude towards TPP and China is delighted to see its success.

In Long Yongtu’s perspective, TPP needs professional interpretation rather than politicization and overstatement. Further cooperation and conversation should be enhanced to promote free trade throughout the Asia-Pacific region.(APD)


From APD NEWS, 2017-3-14


  • Wang Yiwei: Belt and Road forum will clear many doubts

    This May will witness China seeking viable solutions to the problems facing the global economy at the Beijing-based Belt and Road Forum for International Cooperation, where over 20 countries’ leaders have confirmed their participation.

  • Foreigners’ green card path gets smoother

    China began issuing permanent residence permits in 2004. However, the “green card” is among the most difficult to obtain in the world due to the high requirements involved. Between 2004 and 2015, Beijing issued 1,700 permanent residence permits.

  • More support vital to boost green

    More support vital to boost green investment From: Global Times Tweet Ma Jun, chief economist at the People’s Bank of China and invited senior research fellow with the Center for China and Globalization (CCG), Speechs at the 2nd Annual China and…

  • Beijing still graduates top choice

    Despite the choking smog, Beijing is still the number one choice for graduate job seekers based on its “soft environment”, according to a report published Tuesday. Researchers at the Center for China and Globalization (CCG) and education consultancy MyCOS analyzed responses from 20,000 graduates.

  • Trump speech accused of showing Cold War mentality

    The US should not perceive China as a rival and should stop hyping the rhetoric to gain military and political mileage, experts warned following US President Donald Trump’s first State of the Union address.