China and India should now join the TPP

THE Trans-Pacific Partnership (TPP) - the biggest trade deal in history - has got a new lease of life. But it remains limited in its geographical coverage - something that can be substantially remedied if China and India also sign up.

With the addition of the two Asian giants, it would then cover countries with a total population of about 3 billion instead of 500 million, and a combined GDP of US$25 trillion instead of US$13 trillion.

After US President Donald Trump pulled the United States out of the TPP on his first day in office in January, many observers pronounced the agreement to be all but dead. But thanks to the persistence of the remaining 11 members, led by Japan, it has been formally resurrected following the meeting of the leaders of the Asia Pacific Economic (Apec) forum in Vietnam over the weekend.