China to miss out due to TPP exclusion, says PBOC economist

Beijing

CHINA'S textiles, clothing and electronics industries will miss out by being excluded from a US-led Pacific trade pact, according to an article by Ma Jun, the chief economist of the People's Bank of China's research department.

China would see a 0.5 per cent annual increase in economic output over four years if it were to join an expanded 16-member Trans-Pacific Partnership (TPP) and its economy would be 2.2 per cent larger after several years, according to the article published in the Shanghai Securities News. That assumes that other nations which are not in the existing grouping - including South Korea, Indonesia and Thailand - are also added.