Whether or not China should join TPP
- By Pang Zhongying
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E-mail China.org.cn, October 10, 2015
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Another gamesmanship [By Zhai Haijun/China.org.cn] |
Twelve Pacific rim countries sealed the Trans-Pacific Partnership (TPP) deal on Monday in Atlanta to create the largest free trade area of the world. Since then, whether or not China should join the partnership has become a hot topic among the Chinese public.
Proponents believe that to join the partnership is both a challenge and an opportunity for the Chinese economy. It will "force" China to extend and deepen its reform and opening up.
However, contenders think that the main external factor of the new TPP deal is to deal with "China's rise," and that the TPP has strong geopolitical intent. Therefore, China should not care about the TPP and should continue with its existing multi-lateral endeavors, such as the land and maritime Silk Road initiative, BRICS and the Asian Infrastructure Investment Bank (AIIB).
U.S. intends to deal with challenges from emerging economies
Currently, global governance on trade and investment industries has become more and more diverse, which challenges traditional America dominance. The diversified governance also makes the existing global institutions, such as WTO, difficult to develop further. Emerging economies have achieved a stronger presence in those global institutions, pushing them to be new deciders in the formulation of international rules.
To avoid such effects, the U.S. intends to dominate the whole world through the TPP deal, and then build the development of the WTO and world economy in future.
Whether China likes it or not, the TPP deal dominated by the U.S. has already created a dilemma for China. Should the country join the TPP, China will sacrifice a lot. If China does not, the country's reform and opening up will face a range of diplomatic difficulties.
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