China expected to push for Pacific Rim trade deal at Apec forum
Quick Look
- China is expected to advocate for the Free Trade Area of the Asia-Pacific (FTAAP) at the upcoming Apec forum in November.
- Analysts suggest the move aims to build regional goodwill, though US resistance remains a significant hurdle for any formal agreement.
AI-generated summary
Why It Matters
The FTAAP is a proposed free trade agreement covering all 21 members of the Apec forum. China is hosting the upcoming Apec forum in November.
China is increasingly expected to push for a trade agreement binding a wide swathe of the Pacific Rim, including the US, when it hosts a forum of major Asia-Pacific economies in November, but a real deal may be hard to secure as Washington is likely to resist, according to analysts.
The anticipated push for the Free Trade Area of the Asia-Pacific (FTAAP), covering all 21 members of the Asia-Pacific Economic Cooperation (Apec) forum, would – even if unsuccessful – earn Beijing goodwill from other Pacific Rim countries because it would be proposing action to cut export costs, they said.
“It should be high on the agenda especially given [US President Donald] Trump’s anti-international trade position and his constant tariff threats,” said Chen Zhiwu, chair professor of finance at the University of Hong Kong.
Open Questions
- Will the US formally reject the FTAAP proposal?
- How will other Apec members respond to the Chinese initiative?
