The US Congress Has Decided To Give Up Approving TPP RCEP, Which Is Likely To Fill TPP'S Failure.
TPP is Obama's economic knife to "return to Asia" strategy, with the aim of containing China's increasing influence in this strategic area.
Now it has become a mere scrap of paper, because
Trump
After the election, the US Congress decided to abandon the approval of TPP.
The instinct of disgust of vacuum and the retreat of the United States provide Beijing with a golden opportunity to advance chess pieces.
In Lima, Xi Jinping will try to accelerate China's own Asia Pacific Free Trade Zone plan.
Even the faithful allies of the United States, such as Australia, have re examined their plans and are now hoping to get closer to China.
Canberra believes that RCEP could "fill" the failure of TPP.
RCEP is another free trade agreement plan signed by ASEAN, Australia and China, but not Washington.
Foreign media said, Chinese President Xi Jinping will be in
APEC
The main role of the Lima summit is to facilitate the participants to agree to the establishment of the Asia Pacific Free Trade Area.
The negotiations may continue for many years.
Therefore, Beijing will focus on promoting the regional comprehensive economic partnership agreement (RCEP) for the time being.
In any case, Washington failed to implement the trade union plan to exclude China after 10 years of negotiations, which means the failure of US diplomacy.
Besides Peru, Xi Jinping will also visit Ecuador and Chile.
What is the purpose of these visits? Vladimir Sudalev, deputy director of the Latin American Research Institute of the Russian Academy of Sciences, said that China has changed its economic policies and substantially reduced imports of oil, grain and soybeans. Its main task at present is investment cooperation.
In this case, the interests of China and Latin America coincide.
China
We are committed to using some p oceanic pport corridor networks to cover Latin America. They will extend from the Atlantic to the Pacific, including railways and highways.
In Peru, Obama should formally announce to APEC members the death of the p Pacific Partnership Agreement (TPP), the first casualty of Trump's ruling.
This weekend, when President Obama sat in Peru with Xi Jinping and other Pacific Rim leaders, he might feel that he was giving the key to the global economy to the Chinese leader.
The focus of the Lima summit will not be Obama's TPP, but Xi Jinping's ambitions for the other two agreements: first, the Asia Pacific Free Trade Area with wider coverage; two, China's support for a competition with TPP.
For many years, at the occasion of the APEC summit like this weekend, Obama's efforts to push TPP have always dominated the agenda.
However, Trump was elected president and made all efforts to end in disgrace.
China is taking the opportunity to sit on the economic driver's seat and push the United States down the role of the Asia Pacific Economic Integration champion.
Joshua Meltzer, a former Australian diplomat and currently working at the Brookings Institution in Washington, said that with the election of Trump, "many countries soon realized that RCEP is the only major Asian trade agreement on the table."
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