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Beijing’s bid to join CPTPP may fail yet also succeed, experts say
- Differences with members of the 11-nation trade pact, notably Australia and Japan, may prevent China winning the backing needed
- CPTPP’s commitments would be difficult for China to meet – but applying may have diplomatic or economic benefits
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China is unlikely to be accepted into a Pacific Rim trade deal in the short term, but its application seeks to position it as embracing cooperation and opening up, analysts said.
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Beijing’s attempt to join the 11-country Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) may be a tough sell for members with which it has strained relations, such as Australia, Japan and Canada, but experts said it signalled to the region that China was a willing strategic partner, and to the United States that it would not be pushed around.
It had already floated the idea to members after President Xi Jinping said last November his country was seriously interested in joining.
The pact took shape as the Trans-Pacific Partnership, seen as an effort to counter China before the US’ withdrawal in 2017, after which it was replaced by the CPTPP, without the US.
There has been division in the group – comprising Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam – over China’s application, which requires unanimous support. Singapore and Malaysia, which have close economic ties with Beijing, have been open to the idea.
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