China has to win over Canada and Australia before trade pact talks can start

The latest information on Chinese trade

China’s membership in the US-inspired trans-Pacific trade group sees it as a conservative nationalist in a country eager to embarrass President Joe Biden and a way to force difficult domestic economic reforms. Appeal to liberals.

But Beijing first needs to win the support of the marginalized member states of recent years, especially Australia and Canada.

Chinese officials and analysts officially in Beijing Application to participate Comprehensive and progressive agreement on the Trans-Pacific Partnership is a successor of has been established have been abandoned by the United States after agreement, the Xi Jinping President of commitment to the difficult economic and financial reform in the world’s second-largest economy is showing.

Beijing officially applied for participation in the CPTPP on Thursday within 24 hours of the announcement of the new military partnership by the United States, Australia and the United Kingdom. Aukus, Aimed to counter the military rise of China. Chinese officials and analysts claimed there was “no relationship” between the two announcements.

Zhao Lijian, a spokesman for China’s Ministry of Foreign Affairs, said, “We believe that China’s participation in the CPTPP will facilitate economic integration in the Asia-Pacific region and promote post-covid economic recovery, trade development and investment.” It states.

“China is working for economic cooperation and regional integration. The United States and Australia are driving war and destruction.”

Mr. Zhu Feng, an international affairs expert at Nanjing University, called the move a “very important signal” and said it would carry out “reform and openness”.

“CPTPP is [trade group] At a relatively high threshold, “he said. “China wants to participate, so China must decide to meet that requirement.

“The United States is dissatisfied with China over trade. Currently, China has shown a desire to strengthen its policy orientation and to integrate with the international community.”

Xi and his advisers want state-owned enterprises to maintain their advantage over strategic industries. Long-term campaign To reduce the power of private groups that dominate China’s Internet economy.

But they also want to compete on their own with Western multinationals. This is a goal backed by the relatively strict rules of the CPTPP related to industrial subsidies and SOEs.

“Is this a serious sign that China wants to regain economic reforms, or is it just spectacular? Former New Zealand trade negotiator Stephen Jacobi said:

“Maybe it’s an attempt on their part to work on how they can reform their SOE sector .. .. Their SOE behavior is severely restricted by the CPTPP. prize.”

However, some Japanese ministers quickly pointed out other areas that could impede China’s entry, such as intellectual property, data flow, and the strict CPTPP rules on labor. “Is China really ready to participate?” Finance Minister Taro Aso asked on Friday.

Canberra staff Ottawa is also wary of China’s application because it believes Beijing has violated the World Trade Organization’s promises by appealing for trade retaliation in the course of a diplomatic dispute.

The three largest members of the CPTPP are pursuing complaints against China at the World Trade Organization. Japan is steel, Canada is rapeseed, and Australia is wine.

Chinese officials are angry with Canada’s call for a thorough investigation of Australia’s Covid-19 pandemic last year and Canada’s detention of Chinese telecommunications executives in 2018 until it could be handed over to the United States for fraud. I stood up.

In response to the latter, the Chinese government Detained two Canadians, One of them is a former diplomat.

Australia’s Minister of Trade Dan Tehan said China’s “performance of compliance” with other trade agreements will affect the application of the CPTPP. “The CPTPP Parties want to be confident that the candidate will fulfill its promise in good faith,” he added.

Australia’s independent senator Rex Patrick argued that China needed to “act properly” and stop “waiving trade sanctions here and there, everywhere” before entering the CPTPP.

“We can’t make false claims about some of our products, as we were selling wine to the Chinese market at prices below market prices,” Patrick told the Financial Times. “It’s clear we didn’t do that.”

However, withdrawal from these and other disputes can even make it difficult for China to reach the CPTPP starting line, as members must agree to begin negotiations with the applicant first. It means that there is sex.

It took four months for Member States to agree to begin accession negotiations with the United Kingdom, and the United Kingdom officially applied for CPTPP membership in February.

“Look at the problem [China] Access to the market alone will ask many people if it’s really okay. ” “These questions are deeper than the questions being considered in the UK.”

Tom Mitchell in Singapore, Emma Chow in Beijing, Edward White in Seoul, Anthony Clan in Sydney, Kana Inagaki and Robin Harding in Tokyo

China has to win over Canada and Australia before trade pact talks can start Source link China has to win over Canada and Australia before trade pact talks can start

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