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China Facts: US the biggest loser

 

 

Asia's determination to push ahead with the Trans-Pacific Partnership (TPP) without the world's biggest economy has sent a power message. The TPP-11 opens the door to a trade zone worth $13.7 trillion that spans the Americas and Asia. As part of the world flirt with protectionism, this is a timely reminder there is a different and better way to drive economic growth rather than stifle it. Missing from the new pact were a number of provisions previously sought by U.S. negotiators, including pharmaceutical patent rules, investor-state dispute mechanisms, and reforms for state-owned enterprises. Comprising more than 15 percent of world trade and 495 million people, the TPP-11 has brought together Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam in the world's biggest new freee trade zone. Had the United States stayed, the new deal would have represented 40 percent of global trade. *) 

 

*) The Diplomat March 12, 2018

 

 

 

 

 

 

 

 

 

 

 

 

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Hans Henrik Pontoppidan
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