An­a­lysts hit back at Obama’s com­ments

China Daily (Canada) - - TOP NEWS - ByWANG QINGYUN wangqingyun@chi­nadaily.com.cn

The United States should not ex­clude other coun­tries in set­ting trade rules, but should em­brace rules to­gether with emerg­ing economies, ac­cord­ing to Chi­nese an­a­lysts.

They were com­ment­ing af­ter US Pres­i­dent Barack Obama called for pas­sage of the Trans-Pa­cific Part­ner­ship to be speeded up for his coun­try to com­pete with China.

The TPP will en­able the US to “write the rules” and “call the shots” in trade in the Asia-Pa­cific re­gion, Obama said in an ar­ti­cle pub­lished onTheWash­ing­ton Post web­site onMon­day.

He said the Re­gional Com­pre­hen­sive Eco­nomic Part­ner­ship — a pro­posed free trade agree­ment between the 10 mem­ber states of the As­so­ci­a­tionofSouth­east­AsianNa­tions and the six states with which ASEAN has ex­ist­ing FTAs, in­clud­ing China — would put US busi­nesses and jobs at risk.

In­re­sponse, theChi­ne­seFor­eign Min­istry said that world traderu­lesshould­notbe­dic­tated by a sin­gle coun­try, but should be jointly writ­ten by all coun­tries.

It said China re­mains open to the TPP, and that both part­ner­ships should re­in­force each otherand­con­tribute­tothe­goal of­set­tin­gu­panAsia-Paci­ficfree trade area.

Zhong Feit­eng, a re­searcher at the Chi­nese Acad­emy of So­cial Sci­ences’ Na­tional In­sti­tute of In­ter­na­tional Strat­egy, said the two part­ner­ships can co­ex­ist.

He said the re­gional part­ner­ship has lower stan­dards that suit devel­op­ing and low-in­come coun­tries, while the TPP has much higher stan­dards and suits de­vel­oped coun­tries.

With Obama in the last year of his pres­i­dency, he sees the TPP as an im­por­tant legacy, Zhong said. He added that the US — con­cerned over China’s de­vel­op­ment — is at­tempt­ing to con­strain such de­vel­op­ment through theTPP.

Con­sid­er­ing that US in­flu­ence has been de­clin­ing in re­cen­tyears, itis­notre­al­is­tic­for Washington to try to for­mu­late global trade rules on its own, and it should grad­u­ally ac­cept China’s par­tic­i­pa­tion in for­mu­lat­ing these rules, he said.

Jin Can­rong, a pro­fes­sor of in­ter­na­tional re­la­tions at Ren­min Univer­sity of China, said global trade rules should be writ­ten by both de­vel­oped coun­tries rep­re­sented by the US and by emerg­ing coun­tries rep­re­sented byChina.

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