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Xinhua: What should China do about TPP?

A Xinhua article discussed China’s options regarding the Trans-Pacific Partnership (TPP). According to the article, on the one hand, in urging the TPP countries to increase their labor costs, the U.S. is attempting to increase the competitiveness of its manufacturing. On the other, it is pushing the TPP countries to purchase U.S. products so as to revive the U.S. manufacturing industry. What should China do? “We should be clear that without China, the TPP cannot represent the Asia-Pacific region and the U.S. will receive no meaningful benefits. We have joined the WTO and have the FTA in place. Therefore, we will not lose anything if we do not join the TPP. However, without China, the TPP, not China, will be marginalized in international trade.”

Source: Xinhua reprinted by Guangming, November 29, 2011