SUBSCRIBERS

Battle of the trade pacts surfaces at Apec summit in Lima

Xi dangles carrot of access to China's vast markets in RCEP while some TPP leaders aim to push ahead without the US

Published Sun, Nov 20, 2016 · 09:50 PM

Tokyo

HEADS of the 12 nations that have signed on to the Trans-Pacific Partnership (TPP) deal - including US President Barack Obama - came together over the weekend in a show of support for the pact. But its fate rests in Washington where president-elect Donald Trump has expressed strong opposition to having the US ratify it.

Meanwhile, China President Xi Jinping sought to lure Asia-Pacific leaders who are backing the China-excluded TPP agreement to support an alternative and wider grouping that would involve China. At a summit meeting in Lima, he dangled the carrot of increased access to China's vast markets in return.

A battle between the US and China for pole position in East Asia, in economic as well as security terms, is seen as being centred on the TPP, which is a key element of Mr Obama's "pivot" towards the region. But…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

International

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here