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Analysts on China’s bid to join CPTPP, strategic competition with U.S.

Mount Equity Group Tokyo, Japan > News > Markets > Analysts on China’s bid to join CPTPP, strategic competition with U.S.

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,…

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