This mean US is willing to forgo US$1 trillion in trade to TPP countries.
It also means US is willing to forgo US$94 billion in trade to TPP countries in the first year alone.
ricky l
3 seconds ago
It should read :-
This mean US is willing to forgo US$1 trillion export to TPP countries.
It also means US is willing to forgo US$94 billion export to TPP countries in the first year alone.
ricky l
3 seconds ago
US will be caught fleet-foot when RCEP is ratified next year.
US will realise they will be losing trillion of dollars of trade to its trading partners - and regret it has make the wrong decision of canceling the TPP.
ricky l
12 seconds ago
BEIJING: China hopes for "early results" in negotiations for a giant Asian trade pact, its foreign ministry said Tuesday (Nov 22) after US President-elect Donald Trump vowed to ditch a rival deal, the Trans-Pacific Partnership.
The move could give Beijing - which backs the alternative Regional Comprehensive Economic Partnership (RCEP) - an opportunity to forge ahead with its own trade deals and fill a vacuum left by any American withdrawal.
RCEP talks were pressing ahead, said foreign ministry spokesman Geng Shuang, adding: "Now, we hope that such negotiations can achieve early results."
RCEP brings together the 10 members of the Southeast Asian grouping ASEAN plus China, India, Japan, South Korea, Australia and New Zealand, but notably excludes the US.
China hoped that trade agreements would "reinforce each other rather than undercut each other", Geng said.
Shanghai University of International Business and Economics professor Bin Jiancheng told AFP that an American withdrawal from the TPP would "give China some opportunities and time to promote economic integration in Asia, including RCEP" and to expand its influence.
He noted that the Asian giant's major role in global commerce - it is the world's biggest trader in goods - would protect it from being isolated or threatened by the TPP, whether or not the US took part.
ricky l
3 seconds ago
I think all Asia Pacific Countries should call for a celebration - achieving the Asia Pacific Economic & Trade Integration - a Win-Win outcome the moment when RCEP is signed and come into effect.
A day declare as Asia-Pacific Free Trade day ---- to celebrate the "Free Trade" day.
It will certainly wipe out the disappointment in TPP.
ricky l
13 seconds ago
China hoped that trade agreements would "reinforce each other rather than undercut each other", Geng said.
---
Particularly like the concept of RCEP that emphasize "reinforce each other rather than undercut each other".
Let us double and triple our efforts to see through the RCEP and put all the signatures on it.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
ricky l
3 seconds ago
Thought of a slogan - when RCEP is sign :-
"Today is Our Free Trade Day"!
China touts Asia trade pact as Trump vows to dump TPP
Posted 22 Nov 2016 19:31
Updated 22 Nov 2016 19:40
Chinese Premier Li Keqiang and Philippines President Rodrigo Duterte pose for a photo during the ASEAN Plus Three Summit in Vientiane, Laos September 7, 2016. (Photo: REUTERS/Soe Zeya Tun/Files)
BEIJING: China hopes for "early results" in negotiations for a giant Asian trade pact, its foreign ministry said Tuesday (Nov 22) after US President-elect Donald Trump vowed to ditch a rival deal, the Trans-Pacific Partnership.
Trump pledged in a short video message to signal the US's withdrawal from the TPP - a vast, arduously negotiated agreement between 12 countries that does not include China - on his first day in the White House.
The TPP is the economic plank of outgoing US President Barack Obama's strategic rebalance to Asia, and the US's departure from the pact would render it toothless.
Analysts say the move could give Beijing - which backs the alternative Regional Comprehensive Economic Partnership (RCEP) - an opportunity to forge ahead with its own trade deals and fill a vacuum left by any American withdrawal.
RCEP talks were pressing ahead, said foreign ministry spokesman Geng Shuang, adding: "Now, we hope that such negotiations can achieve early results."
RCEP brings together the 10 members of the Southeast Asian grouping ASEAN plus China, India, Japan, South Korea, Australia and New Zealand, but notably excludes the US.
China hoped that trade agreements would "reinforce each other rather than undercut each other", Geng said.
Shanghai University of International Business and Economics professor Bin Jiancheng told AFP that an American withdrawal from the TPP would "give China some opportunities and time to promote economic integration in Asia, including RCEP" and to expand its influence.
He noted that the Asian giant's major role in global commerce - it is the world's biggest trader in goods - would protect it from being isolated or threatened by the TPP, whether or not the US took part.
But it would still be hard to overtake the US's prominent global position.
"Even if the US really does not go through with TPP it will still use other methods to maintain its leading role, and its ability to set rules in the Asia-Pacific region," Bin said.
In a Chinese-language editorial Tuesday, Communist party mouthpiece the People's Daily said China-US relations were "too big to fail".
It stressed the "special responsibilities" the pair had as the world's two largest economies.
"It's not difficult to foresee that China-US cooperation can bring huge benefits to both countries and the world, but if there is constantly friction between them or even confrontations, it will bring disaster" to all, it added.
