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Can RCEP benefit from demise of TPP?


11-25-2016 04:59 BJT

With Trump continuing to sound his disapproval of the Trans-Pacific Partnership -- a trade agreement involving a dozen Pacific Rim countries -- could the Regional Comprehensive Economic Partnership, which is led by the ASEAN community and supported by China, somehow benefit from its demise? China's ministry of commerce says with all its members keen to reach a deal, it could be a faster way to achieve regional free trade.

"China will fully respect ASEAN's core position and work with all negotiating parties to strive for an end to the negotiations as soon as possible so as to contribute to the economic integration of the Asia-Pacific region. Regardless of the futures of TPP and RCEP, China will continue to deepen reform, expand opening up, actively participate in multi- and bi-lateral trade arrangements, continuously strengthen the role of the multi-lateral trading system, and create a more free and convenient environment for global trade," said Shen Danyang, spokesman of Chinese Ministry of Commerce.

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