China’s interest in Pacific trade deal sets stage for new US showdown after Xi Jinping ups the ante
- Xi Jinping’s statement of intent on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has caught the eye of member states
- Analysts say Joe Biden’s election sparked firming up of Beijing’s interest, but uncertainty remains as to the US direction of travel under new administration
On the heels of signing the world’s biggest free trade deal, President Xi Jinping’s announcement that China “will actively consider” joining a formerly American-backed accord has sent a ripple of intrigue across the Pacific Rim.
In Beijing, Xi’s statement is seen as the surest sign yet of genuine interest in the deal to date, following Premier Li Keqiang’s comments in May that “China has a positive and open attitude toward joining the CPTPP”.
Former officials and analysts say Biden being confirmed as the US president-elect ahead of his inauguration in January may be the galvanising force for Beijing‘s interest.
With the new US government coming in and a lot of uncertainty to follow, Beijing is now first making this stance on being interested in joining CPTPP the country’s official stance on this matter
“With the new US government coming in and a lot of uncertainty to follow, Beijing is now first making this stance on being interested in joining CPTPP the country’s official stance on this matter,” said Wei Jianguo, China’s former vice-minister of commerce responsible for foreign trade, adding that there will be “practical moves by Chinese officials to follow”.