US should consider Beijing-backed Asia-Pacific trade deal: China paper

Leaders of the 12 countries that signed the Trans-Pacific Partnership met on Saturday (Nov 19) to seek ways forward on the landmark trade deal, which hangs in the balance following Mr Donald Trump's victory in the United States presidential election.

But he said a lesson from the election of Donald Trump, and from Brexit, was that a lot of people were "pretty angry, don't trust politicians, and feel like they're no better off today than they were a decade ago or worse", so political parties ought to listen.

Since Trump's victory, top officials from countries that signed up to the TPP - including Japan and Australia - have been cited as saying attention is likely to shift to China's plans.

In a Pacific region hungry for trade, that has left even longtime U.S. allies looking to China - which was notably excluded from the TPP - to fill the void.

Mr Trump made opposing the TPP a key part of his election campaign, saying America did "not need to enter into another massive global agreement that ties us up and binds us down". "It's a big project that will take time", he said.

"We will fully involve ourselves in economic globalization by supporting the multi-lateral trading regime, advancing the FTAAP and working for the early conclusion of the negotiations on the Regional Comprehensive Economic Partnership", he said.

In addition, members of the Asia Pacific Economic Cooperation forum are negotiating an FTA in the region.

And he'll have the chance to meet more this weekend at the Asia-Pacific Economic Cooperation summit in Peru.

A top adviser to U.S. president-elect Donald Trump has lashed out at the Obama administration's opposition to China's economic diplomacy, especially the decision to stay away from The Beijing-based Asian Infrastructure Investment Bank (AIIB).

The prime minister also took aim at Opposition Leader Bill Shorten for sympathising with trade protectionism.

What this weekend's satellite launch means for weather forecastingTwo dozen meteorologists from across the country were on hand for the big event, including WFTV digital meteorologist Irene Sans . Once in space and operational, the satellite is expected to change the way we look at and forecast weather on our planet.

Peru, a smaller economy even among South American countries, has started talks with China about joining the RCEP, even as it holds out hopes that US President-elect Donald Trump might renege on his vow to scrap a rival US-led deal.

If you like this article, Like The Middle Ground's Facebook Page as well!

"We've got to wait for the U.S. administration to get it through Congress, be clearer about its policies, which we're not clear on", Bollard said.

Allies such as Japan and South Korea are anxious Trump will cut back the U.S. military, economic and diplomatic presence in the region.

"There was very strong rhetoric during the election campaign that was critical of some trade agreements, for example he said that he would withdraw from the TPP".

"The Asia-Pacific zone of free trade will be open, inclusive, and will incorporate all".

Sumner said, "When there's trade, both sides benefit".

Mr Key said the USA was an important consumer market, and he would prefer a deal with them in it.

RCEP groups the 10 members of the Association of South East Asian Nations plus China, Japan, South Korea, India, Australia and New Zealand, but now does not offer the same high level of free trade openings as the TPP.

Prime Minister Malcolm Turnbull is due to arrive in the Peruvian capital on Friday morning local time and in coming days is expected to catch up one last time with Barack Obama before his presidential stint draws to a close.

Source: US should consider Beijing-backed Asia-Pacific trade deal: China paper