politics

China-backed trade pact gains momentum as Trump threatens to ditch TPP

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It makes much more sense to have trade agreements with the neighbours. The RCEP has a much better chance of success than TPP. As long as it's open.

6 ( +7 / -1 )

The TPP failure is just one early example of how Trump will destroy the US economy. There is no country happier now in the world that China about Trump becoming President, well other than Putin since he has cultivated Trump as his agent for the last five years. But in China they must be moving the calendar forward by about then years when China moves past the USA economically. Thanks Trump voters for making the USA second best. Make America great again? No, make American second to China is the reality of the Trump doctrine.

6 ( +10 / -4 )

All this fanboism for China. Its a joke. China doesn't believe in free trade or fair trade. They still prop up their state companies with subsidies. They still allow their state owned companies to dump excess product into the international market, way below cost. They still manipulate their currency for unfair advantage. They still present a million and one impediments to overseas investors and use the IP and advanced tech of overseas companies to piggy back off while never giving overseas companies a genuine chance of success in their internal market. There may be free trade with China, but never anything remotely approaching fair trade. That is Trumps point, and many others, and they are 100% correct.

All those countries that that sign up for RCEP, may gain a benefit in trade amongst themselves, but the least benefit they will gain is fair access to the Chinese consumer, and that is by far the biggest drawcard. These countries are kidding themselves if they think their exports will ever be allowed to compete fairly with products from Chinese companies in the Chinese market.

Think twice about what you wish for with the death of the TTP.

5 ( +11 / -6 )

zurcronium,

The TPP failure is just one early example of how Trump will destroy the US economy.

Well, the previous few presidents didn't exactly leave the country in a great financial condition, did they? If anyone is responsible for destroying the US economy, Bush/Cheney must be at the top of the list, surely.

5 ( +6 / -1 )

Should this come to pass, it will leave Japan in an untenable position. Can't abandon Abe's commitment to TPP, can't follow anything led by the Chinese, can't offend the yanks... Abe may well have already painted Japan into a corner, depending on how events play out.

4 ( +4 / -0 )

yes because when you think of living wages and better quality of life you think....China? Um.. No

3 ( +7 / -4 )

The only one who can't get good sleep when RCEP proceed is Mr.Abe. China will take vengeance of Japan's hardcore of supporting the TPP, but I believe he has understood the consequences of gambling the TPP start from the beginning.

3 ( +6 / -3 )

There is little confidence or likelihood that the Government of China would abide by any free-market rules incorporated into a Regional Comprehensive Economic Partnership (RCEP) free trade deal.

The Government of China openly employs a export tax rebate system, little established quality controls over the safety of numerous exported products, medicines, and foods. China is by definition the global hub of counterfeit consumer goods, fake pharmaceuticals and medicines.....

2 ( +5 / -3 )

Going to be funny to see how Japan goes crawling back to China to be let in after the TPP collapses and Abe and Co have spent the last couple of years trying to isolate China (while it cleverly undermined Japan's efforts).

2 ( +5 / -3 )

My advice to young people: stop learning English and start learning Chinese.

2 ( +4 / -2 )

Trump has played right into the hands of the Chinese, theyll most probably take the US position in any future Asian TPP, and US companies will be uncompetitive to the members of RCEP. It'll also give smaller countries more clout being a member of this group as the US will find it difficult to offer higher tariffs to any future bilateral FTA with those countries. The whole point of Trump leaving the TPP was to have more power over these smaller countries. RCEP will counter that. well see if Trump can get those jobs back then LOL

2 ( +4 / -1 )

The RCEP is going nowhere. It may evolve into a vague series of agreements but will never become a pact - too much distrust and dishonesty among the players, particularly China.

TPP is simply on the back burner, which is not necessarily bad; perhaps they can fix some of its flaws, notably those that give corporations overweight influence.

2 ( +3 / -1 )

So, not only does Russia have Drumpf in its pocket, but it seems 'Jinah' does as well...

Interesting...

2 ( +4 / -2 )

No, make American second to China is the reality of the Trump doctrine.

I guess moving jobs oversees, denying citizens employment keeps the nation in first place?

The RCEP is going nowhere. It may evolve into a vague series of agreements but will never become a pact - too much distrust and dishonesty among the players, particularly China.

I will not have what he's having!!

TPP is simply on the back burner, which is not necessarily bad; perhaps they can fix some of its flaws, notably those that give corporations overweight influence.

I'm pretty sure that worn out ship has sailed and sunk mate!!

2 ( +2 / -0 )

Abe and Putin had talk about a month ago and I don,t think the NT nor the Oysters were the real reason for Putin to spend two day in Mia prefecture. This has to do with trade. Oil, back gold, Texas Tea, Maybe a pipe line form Russia down through the NT,s to Hokaido to Honshu, With Trump trying to shake down Japan on Military cost and trade, Abe should have something to counter or Trump Trump.

2 ( +2 / -0 )

Well, what do you expect? Under Obama, America wanted the TPP (which was originally a very simple trade deal among a few nations btw) to be better suited for American corporations. Now under Trump, America thinks the current state of the TPP is not pro-American corporations enough. The funny thing is, the RCEP didn't just enter now, it's always been there under negotiations, and yes, it feels like it isn't rushed. It's not like the countries mentioned (except for some) can't join both pacts. It's just that, the TPP imploded on itself. Now the RCEP skeptics' nerves are on fire.

2 ( +2 / -0 )

1 billion people 2 hours away. Sounds pretty good business sense.

1 ( +3 / -2 )

I personally dislike Donald Trump, but he offered a free trade deal to the UK, and will do to others. It's the unfair trade that costs US jobs that he will stand up against. Why should the US allow other countries to ravage US markets when the US has only limited access to those same protectionist markets? Check how many non-Japanese car factories exist in Japan, and check the latest rice and dairy tariffs here. Check China's overall protectionist stance on trade and its deliberate, long-term, excessive currency manipulation. Any trade agreement involving Japan and China will be even more laughable than the final version of TPP was. Any trade deal led by China will end up suiting China. Other Asian countries should back away from this, Japan included.

1 ( +4 / -3 )

China has always been ask to Joint the TPP but they choose not to and further more China ask all member of the TPP to joint the RCEP which a few nation have, which is indicated above. China has seem to be a vey good international trade citzen. It is the American who have been complaining for 16 years on TPP will before Trump. This is the reason why USA is excluded from the RCEP because they not sign up to the TPP. remember all members of the TPP have been wait for 2 years for USA to agree to the latest agreements which they insist on. We have to stick together against USA if it starts. It can be done. Trump will very soon realise that China Soft War is far more appleaing then Trump protectionism..

1 ( +2 / -1 )

because when you think of living wages and better quality of life you think....China? Um.. No

so is that America? Um... No. Donnie being elected because Americans are unhappy with their wages and their jobs being "stolen". So unhappy, so frustrated my lovely Americans....

All this fanboism for China. Its a joke.

All this fanboism for America. Its a joke.

0 ( +3 / -3 )

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