From: China Daily
Wendy Cutler, former US chief negotiator of the TPP and now vice-president of the Asia Society Policy Institute, said that the TPP was not anti-China and was always open to other countries. It was initiated to liberalize Asia-Pacific trade and promote the integration of economies in this region, she told a seminar co-hosted by the Asia Society Policy Institute and the Center for China and Globalization on March 13 in Beijing.
My personal observation is that to cope with the challenges brought by the Trump administration and the trend of de-globalization we should fully recognize the anticipation of Asia-Pacific countries that China will participate in the TPP, seizing the chance to take part in further negotiations and meetings to take advantage of a mature trade agreement.
First, it will help China share the dividends of a new round of economic globalization. Joining the TPP will provide a better channel for Chinese firms to outsource technology, services, telecommunications, banking, e-commerce, financial services and other sectors, to fully participate in global service trade and protect intellectual property.
Second, compared with the Regional Comprehensive Economic Partnership (RCEP), the TPP has already formulated a mature framework. RCEP was initiated by ASEAN countries in 2011, and still faces a number of challenges. At the recently concluded RCEP meeting in Japan, rapid progress was not made. It takes time to achieve consensus. Hence, China’s participation in the meetings with TPP countries may create a chance to forge ahead with the reform of RCEP and further the construction of the Free Trade Area of the Asia-Pacific (FTAAP), adding new impetus to regional and global economic development.
Finally, participating in the meetings with TPP countries could serve as a new economic input for Asia-Pacific free trade discussions and help China play a more active role in global governance, which in return would help to thoroughly implement the Belt and Road Initiative by improving geopolitics and deploying economic foreign policy.
From China Daily, 2017-3-17