Advertisement
China can set the rules and counter US moves on Asia-Pacific digital trade, if DEPA bid succeeds
- China has applied to join the Digital Economy Partnership Agreement launched by Singapore, New Zealand and Chile
- The Asia-Pacific, a digital boom hub, could be a major battleground as the Biden administration steps up its drive to contain China through regional alliances
Reading Time:4 minutes
Why you can trust SCMP
4
China’s involvement in regional digital economy deals would not only mean a bigger role in rules-setting but also help consolidate its ties with partners like Singapore to counter American containment strategies.
That is according to Chinese analysts tracking the country’s bid to join the Digital Economy Partnership Agreement (DEPA), the world’s first digital-only trade agreement.
Many were caught by surprise earlier this month when President Xi Jinping announced that China had applied to join DEPA, a deal aiming to establish rules and promote collaboration in digital trade, which Singapore, New Zealand and Chile have signed.
Beijing’s application comes at a time of deep concerns that the US administration under President Joe Biden is extending its alliance-centred strategy to contain China’s growing influence in digital trade – an area where global standards and norms remain largely absent.
Advertisement
The Asia-Pacific, a digital boom hub, could be a major battleground.
“The Biden administration would seek to dominate regional digital trade governance across the Pacific and seek to be an active player in [related] governance negotiations … squeezing and inhibiting China’s international governance space,” Zhou Nianli, a professor at the Beijing-based University of International Business and Economics, wrote last month in the Pacific Journal.
Last week, the US and Japan announced a trade partnership that could cover the digital ecosystem.
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x