China Disputes Some US Goals for APEC | News | English
Once the TPP is ratified, foreign companies currently in China would flee to Malaysia and Vietnam, and create a single unified anti-China economic zone which the US plans to eventually turn into an anti-China security alliance.The Chinese official also expressed China's reservations about the Trans-Pacific Partnership, a trade pact being negotiating on the sidelines of the meeting by nine APEC members.
Yu calls on members to strike a balance between the TPP and already existing multilateral trading mechanisms. He says he thinks the multilateral regimes should be the major channel, and that regional mechanisms should be a supplement, rather than a replacement.
The United States has been instrumental in pushing for the realization of the TPP, which aims to remove all tariffs between member countries within 10 years. Speaking about the agreement last week, U.S. Deputy Secretary of State William Burns says the aim is to forge stronger links between the Americas and Asia.
The goal of the cutting-edge TPP is to unite Peru, Chile, and the United States with New Zealand, Australia, Malaysia, Vietnam, Singapore, Brunei and eventually future members, in a single trading community, using the highest standards, Burns stated.
Japan is still trying to decide whether to join the TPP negotiations despite opposition from its powerful farm sector. When Chinese officials were asked Monday whether Beijing would join the regional trade agreement, they said China has not received an invitation.