China is intensifying its efforts of globalization and raising the virtues of free trade, a difference of the USA. The South American nation, Chile brought together the twelve countries that are part of the Trans-Pacific Economic Cooperation Agreement (TPP) in the city of Viña del Mar. After the US withdrawal Of the pact, China accepted the invitation of the Chilean Government and will form part of its high-level meetings.
However, Beijing’s presence could add to fears among treaty members that the Asian giant would become the ruler of the meeting taking advantage of Washington’s absence. Economist Jonathan Heath is aware of this possibility, but predicts a positive outcome.
“Because of its size, what it represents in foreign trade globally and the volume of its economy, China is a worthy substitute for the US,” says Heath. However, Beijing has made it clear that its participation in the meeting is to work towards free trade and does not aim at its potential incorporation into the TPP, reports China Daily. The economist, for his part, does not rule out this last variant.
“[The incorporation of China into the TPP] would represent a very good opportunity for trade to be a little more reciprocal,” says Heath, arguing that access to the Chinese market by countries like Mexico would be fair, taking into account that China has Penetrated practically all world markets.
The economist concludes by stating that “everyone can win” with foreign trade, unlike Donald Trump’s protectionist arguments on this issue.