China keeps boasting of its beliefs in free trade, and of its keenness to sign deals with more countries. But the US, EU and Japan still attack its refusal to accept restrictions on government interference with trade. They insist that China’s not a market economy, and should be treated accordingly at the World Trade Organisation
Before a March 14-15 meeting in Chile planned to review next steps after US withdrawal from the TPP, other negotiating partners – plus China, Korea and Colombia – shared views on future possibilities.
Shujiro Urata, a fellow of the Japan Centre for Economic Research and a former economist at the World Bank, said on February 28 that China has been unable to “contribute constructively” to the past five years’ Regional Comprehensive Economic Partnership (RCEP) talks and would be unable to accept some key TPP chapters.
The eleven countries abandoned by the US when it left the Trans Pacific Partnership on January 23 appear seriously divided about what to do next. Beijing continues to suggest their best response is a completely different arrangement centred on China.
I think many of the alleged uncertainties observers forecast for 2017 are badly misconceived.
The 11 remaining nations will continue working on the pact.
The British Brexit debate, and the aftermath of Trump’s election, are bringing out widely contrasting views of China as a business partner. Some are hopelessly naive.
US Congressional committee claims China “violates the spirit and the letter of its international trade obligations”
A US Congressional committee prepared a report before the November 8 elections savagely attacking China’s good faith as a trading partner.
Theresa May keeps insisting “Brexit means Brexit”. But no-one in Britain can agree what Brexit means, how long it’ll take to get there or what Britain’s trade policy will be once it’s out of the EU.
The US Administration admitted on November 11 it no longer expected Congressional ratification of the Trans Pacific Partnership (TPP) during the Obama Presidency. President-elect Trump has already announced abandoning the deal will be among his first acts after his January 20 inauguration.
I simply don’t buy US lobbyists’ conviction the TPP will get ratified this year. Shouldn’t they abandon the attempt?
Why is the TPP (and with it the TTIP and the TiSA) so close to death?
EU announces review of extending its Customs Union with Turkey – but won’t let Turkey into negotiations on TTIP (which Turkey wants to join). It says it will upgrade its free trade deal with Mexico to match its deal with Canada and TTIP – but Americans and some European politicians stay sniffy about its Trade Commissioners’s views on TTIP.
Though possibly temporary, the May 12 US Senate rejection of a proposal to speed up approval of the Trans-Pacific Partnership (TPP) also imperilled progress on other key trade issues – such as renewing of the AGOA programme, which expires on September 30. By late May 13, Senate deals seemed to offer greater likelihood of progress.
Japan’s announcement of new Rules of Origin for knitwear appear to pioneer a completely new principle among Western countries for duty-free imports.