EconPapers    
Economics at your fingertips  
 

China Should Join the New Trans-Pacific Partnership

Peter Petri () and Michael Plummer ()

No PB19-1, Policy Briefs from Peterson Institute for International Economics

Abstract: A year after President Donald Trump’s ill-advised pullout from the Trans-Pacific Partnership (TPP) trade agreement in early 2017, the remaining 11 Asian and Pacific countries agreed on a deal in spite of the absence of the United States. Renamed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the accord took effect on December 30, 2018, and provides rigorous, up-to-date rules for Asia-Pacific trade—but it excludes the region’s two biggest economies, the United States and China. Petri and Plummer calculate that Chinese membership in the CPTPP would yield large economic and political benefits to China and other members. The CPTPP, in its current form, would generate global income gains estimated at $147 billion annually. If China were to join, these gains would quadruple to $632 billion, or a quarter more than in the original TPP with the United States. But to join the CPTPP, China would have to undertake unprecedented reforms and manage complex political challenges.

Date: 2019-01
New Economics Papers: this item is included in nep-cna, nep-int and nep-sea
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
https://www.piie.com/publications/policy-briefs/ch ... -pacific-partnership (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:iie:pbrief:pb19-1

Access Statistics for this paper

More papers in Policy Briefs from Peterson Institute for International Economics Contact information at EDIRC.
Bibliographic data for series maintained by Peterson Institute webmaster ().

 
Page updated 2021-01-15
Handle: RePEc:iie:pbrief:pb19-1