China should be able to meet standards set out in a major trans-Pacific trade pact, experts say, forcing members to make a decision on whether to let Beijing join a deal created to counter its influence.
New Zealand Prime Minister Chris Hipkins poses for a picture with Japanese Minister of Economic and Fiscal Policy Shigeyuki Goto, New Zealand's Minister for Trade and Export Growth Damien O’Connor, British Secretary of State for Business and Trade Kemi Badenoch, and Malaysian Minister of...
The free trade agreement has its roots in the U.S.-backed Trans-Pacific Partnership, developed in part to counter China's growing economic dominance. The U.S. pulled out under President Donald Trump and it was reborn as the CPTPP with members including close U.S. allies Japan, Australia and Canada. "The conventional wisdom is... that 'Oh well, it's too high level and China with its state-owned enterprises couldn't get into that agreement. So therefore it's not going to happen.' I think that is completely wrong," Tim Groser, a former New Zealand trade minister and chief trade negotiator said.
"If a country's economies rules are really quite far apart from what CPTPP says, then inevitably there's quite a big question about whether they could undertake really, really massive reforms," said Graham Zebedee, Britain's CPTPP chief trade negotiator, without commenting specifically about China's application.
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