China would consider joining a free-trade pact once championed by the US, but abandoned by US President Donald Trump, Chinese President Xi Jinping (習近平) said on Friday, as Beijing increasingly seeks to influence the global rules of commerce.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is an updated version of a giant deal originally backed by former US president Barack Obama as an effort to counter China’s rising influence in Asia.
Trump pulled out of it after winning the presidency in 2016 as he turned away from what he viewed as unfavorable multilateral deals, but 11 countries eventually agreed to sign the new version.
Photo: Reuters
Addressing an APEC summit, Xi said the grouping “must continue to promote regional economic integration and establish an Asia-Pacific free-trade zone at an early date.”
China “will actively consider joining” the CPTPP, he said, according to Chinese state media.
Trump attended this year’s virtual summit, the first time he has participated since 2017, as he continues to challenge his election defeat to US president-elect Joe Biden.
Xi’s comments came just days after Beijing and 14 other countries signed what would be the world’s biggest trade deal, the Regional Comprehensive Economic Partnership.
Taiwan has expressed an interest in joining the CPTPP, as it would be unlikely to gain membership in the China-dominated Regional Comprehensive Economic Partnership.
Singapore-based international trade expert Deborah Elms said that if China did join the trade pact, it might encourage others to follow.
“If Xi’s statement of interest is pushed forward in the coming weeks and months, it will, of course, lead to a lot of questions from current members, prospective members and others that are not thinking of CPTPP membership at all,” said Elms, executive director of the Asian Trade Centre.
Additional reporting by staff writer
DETERRENCE: With 1,000 indigenous Hsiung Feng II and III missiles and 400 Harpoon missiles, the nation would boast the highest anti-ship missile density in the world With Taiwan wrapping up mass production of Hsiung Feng II and III missiles by December and an influx of Harpoon missiles from the US, Taiwan would have the highest density of anti-ship missiles in the world, a source said yesterday. Taiwan is to wrap up mass production of the indigenous anti-ship missiles by the end of year, as the Chungshan Institute of Science and Technology has been meeting production targets ahead of schedule, a defense official with knowledge of the matter said. Combined with the 400 Harpoon anti-ship missiles Taiwan expects to receive from the US by 2028, the nation would have
North Korea yesterday fired about 10 ballistic missiles to the sea toward Japan, the South Korean Joint Chiefs of Staff (JCS) said, days after Pyongyang warned of “terrible consequences” over ongoing South Korea-US military drills. Pyongyang recently dashed hopes of a diplomatic thaw with Seoul, Washington’s security ally, describing its latest peace efforts as a “clumsy, deceptive farce.” Seoul’s military detected “around 10 ballistic missiles launched from the Sunan area in North Korea toward the East Sea [Sea of Japan] at around 1:20pm,” JCS said in a statement, referring to South Korea’s name for the body of water. The missiles
‘UNWAVERING FRIENDSHIP’: A representative of a Japanese group that co-organized a memorial, said he hopes Japanese never forget Taiwan’s kindness President William Lai (賴清德) yesterday marked the 15th anniversary of the Tohoku earthquake and tsunami, urging continued cooperation between Taiwan and Japan on disaster prevention and humanitarian assistance. Lai wrote on social media that Taiwan and Japan have always helped each other in the aftermath of major disasters. The magnitude 9 earthquake struck northeastern Japan on March 11, 2011, triggering a massive tsunami that claimed more than 19,000 lives, according to data from Japanese authorities. Following the disaster, Taiwan donated more than US$240 million in aid, making it one of the largest contributors of financial assistance to Japan. In addition to cash donations and
CLOSER TO CHINA: The upgraded Type-12 missile has a range of about 1,000km, compared with the original model’s range of 200km, and can reach mainland China Japan is preparing to deploy its first batch of domestically developed long-range missiles, with their launchers arriving at an army camp yesterday, as the country accelerates its offensive capability in response to rising challenges in the region. The upgraded Type-12 land-to-ship missiles are to be deployed at Camp Kengun in Japan’s southwestern prefecture of Kumamoto by the end of this month, completing the process of deployment, Japanese Chief Cabinet Secretary Minoru Kihara said without giving details. Army vehicles carrying the launchers and other equipment arrived past midnight in a highly secretive mission criticized by residents. Dozens of people stood outside of the
RSS