The new great game in asia
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The document discusses two major trade agreements in Asia - the Trans-Pacific Partnership (TPP) led by the US and the Regional Comprehensive Economic Partnership (RCEP) involving China. The negotiations between these two trading blocks will determine the global balance of economic power for years to come. Both agreements aim to lower trade barriers but RCEP is more modest, seeking incremental commitments. The conclusions drawn are that China is willing to engage in regional economic cooperation even if it means absorbing norms that go against its own policies, demonstrating its emergence as the regional hegemon in Asia-Pacific and shift in power from the US.
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As Trump retreats on trade, China moves in
America’s traditional partners already are turning to Beijing.
By
Hans von der Burchard (Links to an external site.)
and
Simon Marks (Links to an external site.)
“Politico”
1/24/17, 8:49 PM CET
Updated 1/27/17, 8:42 AM CET
U.S. President Donald Trump’s crusade against China seemed to backfire on Day One.
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The new great game in asia
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- 2. The Main Issue… Two trade agreements, led by USA and China are very superficial about the trade. The negotiation between these world’s trading giants will determine the global balance of economic power for years to come.
- 3. The Agreements… Trans-Pacific Partnership(TPP) Regional Comprehensive Economic Partnership(RCEP)
- 4. About The Agreements… They both are Free Trade Agreements(FTAs) designed to lower tariff and non-tariff barriers between trading countries. TPP negotiations are led by the U.S and involve 11 other nations that share a Pacific Ocean coastline. RCEP comprises the ASEAN nations and 6 others. 7 countries are common members of TPP & RCEP agreements, which includes Australia, Malaysia, Japan, Singapore, Vietnam, New-Zealand and Brunei. In addition to trade in goods and services, both the agreements cover the critical area of Intellectual Property Rights. RCEP is more modest among two, seeking to implement and build on WTO commitments incrementally. RCEP is not a China-led process, but involves Beijing as a key player.
- 5. Major Powers and Countries In IPR Negotiation… POWERS:- 1. Applications/Softwares 2. Intermediary Liability 3. Cybersecurity COUNTRIES:- 1. U.S.A 2. China 3. Japan 4. India
- 6. Conclusions Of RCEP Agenda… 1st : China is willing to engage actors within a pluri-lateral setting and set aside competing political interests around South China Sea for overall economic gain. 2nd : Beijing leadership is capable of absorbing multilateral instruments into domestic law to secure regional interests even it goes against economic policies, especially on IPRs. 3rd : China is comfortable with conceiving and implementing international norms while it emerges as a hegemon in Asia-Pacific. These conclusions if affirmed, then there will be a shift in regional locus of power from the U.S to China.
- 7. THANK YOU