Chinese President Xi Jinping on Jan. 30, 2015. China has applied to join CPTPP, an 11-nation trade pact formed in 2018 after the U.S. withdrew from the Trans-Pacific Partnership.
Fred Dufour | AFP | Getty Images
China will likely fail in its bid to join the Comprehensive and Progressive Trans-Pacific Partnership — but its move to submit an application highlighted the lack of U.S. economic policy in Asia-Pacific, said analysts.
CPTPP is an 11-nation mega trade pact formed in 2018 after Donald Trump pulled the U.S. out of the Trans-Pacific Partnership a year earlier.
President Barack Obama had negotiated the TPP to deepen U.S. economic engagement in Asia-Pacific and counter China’s growing influence in the region.
All 11 signatories of the CPTPP must agree to China’s request to join before it can be admitted as a member. The countries in the CPTPP are: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru,…