TPP's impasse paves the way for China to take lead on global trade
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THERE appears to be a glimmer of hope for the stalled Trans-Pacific Partnership (TPP) agreement.
Just when it seemed that the mega free trade pact involving 12 Pacific Rim nations was dead in the water after Donald Trump's stunning presidential election victory, the TPP nations have all vowed to carry on with their respective plans to get domestic approval for the deal.
With Mr Trump a staunch opponent of the TPP, the fate of the region-wide US$27 trillion trade deal continues to hang in the balance. But even as the US has suspended efforts to push for the trade deal in Congress, outgoing US leader Barack Obama has urged the other 11 nations to press on and not assume the worst.
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