Trade pro­pos­als in pipe­line

China Daily (Canada) - - ANALYSIS -

Formed in 2005 with Brunei, Chile and New Zealand and Sin­ga­pore. The US joined in 2008. It now has 12 mem­bers, in­clud­ing the orig­i­nal four, plus Aus­tralia, , Canada, Ja­pan, Malaysia, Mex­ico, Peru, Viet­nam and the US. China was not a mem­ber. Its absence was seen as part of the US “pivot to Asia” strat­egy.

The TPP has tough reg­u­la­tory stan­dards on la­bor, en­vi­ron­men­tal pro­tec­tion, in­tel­lec­tual prop­erty and govern­ment pro­cure­ment.

Pres­i­dent-elect Don­ald Trump sig­naled in Novem­ber that the US would with­draw from the agree­ment in Jan­uary.

Formed in 2012. In­cludes the 10 mem­bers of the As­so­ci­a­tion of South­east Asian Na­tions, or ASEAN: Brunei, Cam­bo­dia, In­done­sia, Laos, Malaysia, Myan­mar, the Philip­pines, Sin­ga­pore, Thai­land and Viet­nam, plus six re­gional trad­ing part­ners — China, Ja­pan, South Korea, Aus­tralia, In­dia and New Zealand.

The RCEP ex­cludes the United States and is seen as China-led since it is the largest econ­omy in the group­ing.

Still on the draw­ing board. First dis­cussed at the Asia Pa­cific Eco­nomic co­op­er­a­tion sum­mit in Hanoi in 2006. The roadmap for its even­tual re­al­iza­tion was an­nounced at the APEC fo­rum in Bei­jing in Novem­ber 2014 and given fur­ther im­pe­tus by a key­note speech by Chi­nese Pres­i­dent Xi Jin­ping at the Lima meet­ing in Novem­ber.

Both the US and China could play a lead­ing role in the FTAAP, although this seems less likely with US Pres­i­dent-elect Don­ald Trump’s po­si­tion on TPP.

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