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Commentary: It will be good to none should the TPP plays 'Zero-sum game'

By Jin Chen (People's Daily Online)    17:19, October 08, 2015
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The U.S.-led Trans-Pacific Partnership (TPP) free trade talks were concluded on Oct. 5, 2015. Representatives from the United States, Japan, Australia, Canada, Singapore, Brunei, Malaysia, Vietnam, New Zealand, Chile, Mexico and Peru reached an agreement on the TPP.

U.S. President Obama said that the U.S., not China, must write the rules for global trade, to open new markets for American products while setting "high standards" for protecting workers and preserving the environment. It will undoubtedly have an impact on China. However, China keeps a clear attitude towards it.

Firstly, it is inevitable for China to face with the TPP. The U.S. set the TPP as an important starting point for the "Asia-Pacific rebalancing strategy" in economic field. The TPP, which covers countries representing about 40 percent of global economic output and nearly one third of global trade volume will be the largest free trade agreement in history. Therefore, China will keep an eye on the specific contents and the development trend of the TPP.

Secondly, China will maintain its strategic focus in the face of the TPP. At present, in the 12 countries participating in the negotiation of the TPP, five have reached free trade agreement with China. Seven have joined the "Regional Comprehensive Economic Partnership" (RCEP), and China is also a member of the RCEP. In global economic governance, 57 countries are prospective founding members of the Asian Infrastructure Investment Bank (AIIB), covering five continents, including Asia, Oceania, Europe, Latin America and Africa.

Thirdly, China has objective judgement of the TPP. The intensive negotiations about the TPP lasting for five years have gone through difficulties. The last meeting did not go smoothly. In addition, the agreement of the TPP is just a point in the process. Challenges and uncertainty still exist in the approval proceedings in each country.

Fourthly, as the world's second largest economy with a scale of $10 trillion  GDP and the world's largest trading country, China has become a partner which can't be ignored by many countries. The Chinese market is extremely important for countries all over the world.

Finally, China always believes that opening-up and cooperation conform to the trend of the times. International economic order should be developed in a more fair and reasonable way. The world is now moving forward to establishing a community. It will be good to none should the TPP plays the "Zero-sum game" in economic field. Only common development, mutual benefit and win-win result could be the positive solution to trade rules.

The article was edited and translated from《中国相信开放合作是主流》, source: People's Daily Overseas Edition, author: Su Xiaohui.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Jin Chen,Bianji)

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