Sheng Bin:Probing the TPP: Concept, Features, Impact and China’s Reaction

Date of publication:2016-1-22There have been0A reader to read the article

Abstract    20 TPP finally reached a deal after 5 years’ intensive negotiations. It embodies evolving fundamental concepts of trade rules, namely, free trade, fair trade, value-chains trade, value in trade, security trade and inclusive trade. As a comprehensive, far-reaching, high-standard, innovative and balanced free trade agreement, it provides a template and benchmark for 21st - century trade rules based on global value chains and will destine to have a crucial impact on the global trade governance in the future. Considering the fact that China is excluded to join the agreement, TPP will impose a challenge and potential threat to China through trade diversion effect, rule of origin effect, investment competition effect, and rule competition and spillover effect. To minimize the negative effect of TPP, China should take necessary early warning and hedging measures in the short run. In the long run, the goal of the TPP agreement and most part of its disciplines seem to be consistent with China’s reform agenda which aims to establish a new out-looking economic system. It will provide China a valuable reference for shaping market- oriented, internationalized, rule- based business environment and government regulations.

 

This paper is published in International Economic Review, No.1, 2016.