The CPTPP is a detailed agreement requiring deep economic integration, and new members must be admitted by unanimous approval
to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership landed on the desk of Damien O’Connor, trade minister of New Zealand, on September 16th. The location was a fitting nod to the deal’s history. In 1999 a meeting between the trade ministers of two small export powerhouses, New Zealand and Singapore, kicked off what became one of the world’s largest free-trade areas. The timing was significant, too.
When New Zealand and Singapore first mooted a trading alliance out of frustration with the slow speed of World Trade Organisation negotiations, China was not yet even a member of the global trading body and its economic heft was piddling relative to today. Its share of global merchandise exports was 3.4%. Last year, that figure ran to 14.7%, making China the only country in the world which accounts for a double-digit share.
But for other governments, relations with China have deteriorated to the extent that its admission borders on the inconceivable. “Countering China’s political, economic, and cyber influence is the animating motivation at the heart of many Australian and Japanese policies.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EXCLUSIVE China Evergrande's lenders weigh up loan losses, rolling over credit - sourcesOne of China Evergrande Group's (3333.HK) main lenders has made provisions for losses on a portion of its loans to the embattled property developer, while some creditors are planning to give it more time to repay, four bank executives told Reuters.
Read more »
AP Interview: UN chief warns China, US to avoid new Cold WarUNITED NATIONS (AP) — Warning of a potential new Cold War, the head of the United Nations implored China and the United States to repair their “completely dysfunctional” relationship before problems between the two large and deeply influential countries spill over even further into the rest of the planet.
Read more »
Analysis: China and the US are polar opposites on gun controlLast week, a 47-year-old man stormed into a law firm in China's Wuhan city and shot dead a lawyer who he had 'some disputes with,' according to Chinese state media. He then stuffed his gun, just under 20 inches (50 centimeters) long, into a tennis racket bag and left.
Read more »
China Evergrande shares plummet to 11-year low on default risksShares of Evergrande on Monday plunged as much as 19% to their lowest in over 11 years, extending losses as investors take a dim view of its business prospects with a fast approaching deadline for payment obligations this week.
Read more »
Dow futures drop 300 points as China property fears growWall Street is poised for a weaker start on Monday.
Read more »
China Box Office: ‘Free Guy’ Slips to Second, Obscured by ‘Cloudy Mountain’“Free Guy” has retained enough charm to stay at second in China in its fourth weekend in theaters, but it slid in just a mere hair ahead of Chinese titles setting themselves up for box office succe…
Read more »