Earlier this month, twelve Pacific Rim countries, including the United States and Japan, reached a final agreement on the Trans-Pacific Partnership (TPP), the largest regional trade pact in history with its member states accounting for nearly 40 percent of global GDP. The pact also constitutes a cornerstone of President Obama’s “rebalance” toward Asia. In this Policy Alert, we examine commentary from China, Russia, Japan, South Korea, and India on the trade deal.
Chinese commentary urged the government to push forward with the China-led Regional Comprehensive Economic Partnership (RCEP) while downplaying the potential impact of the TPP for China. (more…)Continue Reading →
The United States is “pivoting” toward Asia. This strategy was formally publicized last month with Secretary of State Hillary Clinton’s essay on “America’s Pacific Century.” This week, President Barack Obama has been visiting Asia to push for a Trans-Pacific trading bloc and stronger military ties with US allies. How are major Asian powers reacting to America’s strategy to “re-engage” the Asia Pacific region? Today’s post highlights Chinese, Russian and Japanese views on the economic aspects of this strategy.
Chinese officials have so far made only brief comments on the Trans-Pacific Partnership (TPP), all of which express China’s support for regional economic integration but stressing its preference for existing mechanisms. Assistant Commerce Minister Yu Jianhua said any trade mechanism should be “open and inclusive,” while Foreign Ministry Spokesman Hong Lei said economic integration should proceed in a “step-by-step manner.”
Commentary in the press characterized the TPP as a part of a wider strategy to contain China:
- Li Hongmei, editor of the People’s Daily Online, wrote that “the U.S. intends to play a dominant role in the to-be Trans-Pacific architecture by handpicking its members and systemizing and regulating them in political and military spheres in accordance with its own standards so as to turn out a comprehensively economic and political alliance under the U.S. leadership.”
- In addition to similar criticisms, a Global Times editorial pointed out that “any Asian cooperation with the absence of Beijing will not have much heft. China never lacks channels for conducting cooperation with its regional counterparts.”
Academic opinions leaned toward a “wait-and-see” attitude:
- Wang Yuzhu of the Institute of Asia-Pacific Studies at Chinese Academy of Social Sciences said, “Economic regionalism is China’s most pragmatic choice, because the international architecture is changing rapidly. China has to recalibrate its relations with the rest of the world.”
- According to Lu Jianren, deputy director of the APEC Study Center at the Chinese Academy of Social Sciences, “How the TPP negotiations will progress is still a matter of great uncertainty. What can be certain is it will be strategically detrimental to the old ASEAN Plus Three coalition, which has long been lagging behind in forming a free-trade zone that can allow a level of economic unity in the region.”
As Russia gears up to host the 2012 APEC summit in Vladivostock, commentary on U.S. re-engagement in Asia was introspective, questioning Russia’s own unique orientation as both a European and Asian state. (more…)Continue Reading →