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China Plans to Replace the US in Promoting Globalisation

1,888 views · Published 20 November 2016 · 4:41 · Indexed 10 November 2026

Channel: The 2% Brief · 2016 · People & Blogs

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China Plans to Replace the US in Promoting Globalisation 

Today is Sunday 20th November 2016 and we are very briefly covering China’s new intended role in a Post Trump Presidency.

Chinese President Xi Jinping pledged yesterday to further open the world's second-largest economy, as leaders of Asia-Pacific countries gathered in Peru at the annual APEC summit in Lima, to find new free-trade options after Donald Trump was elected on a protectionist platform and has opposed the Trans-Pacific Partnership (TPP.)

President Barack Obama has championed the TPP as a way to counter China's rise, but his administration has now stopped trying to win Congressional approval for the deal, which was signed by 12 economies in the Americas and Asia-Pacific, excluding China. Without U.S. approval the agreement as currently negotiated cannot be implemented.

China's President is selling an alternative vision for regional trade by promoting the Beijing-backed Regional Comprehensive Economic Partnership (RCEP), which as it stands excludes the Americas.

"China will not shut its door to the outside world but open more," Xi said in a keynote address. 

He added: "We are going to involve ourselves in economic globalisation and we back the Free Trade Area of the Asia-Pacific (FTAAP)… We're going to make sure the fruits of development are shared."

Chinese attendance at the APEC meeting was its largest ever and delegates from around the region pointed to the possibility of China taking the lead on free trade if the U.S. were to turn towards protectionism.

New Zealand Prime Minister John Key praised the United States as an important partner in the region, but said China would fill the void if a Trump administration backs away from free trade promotion.

So the scene is being set. With President-elect Trump claiming that he is opposed to globalisation, the Chinese are threatening to fill America’s role. Will he bend or stand firm. We shall have to wait and see.

One thing however, is for certain whether; it’s military, economic or political, wherever the US removes itself, there will be another Country willing to step in and replace it. 

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