What is TPP for China?

On October 5th, the 12 ministerial conferences of the TPP member states such as the United States reached a basic agreement on the Trans-Pacific Partnership Agreement (TPP). The TPP preparation period lasted for 7 years, and the scope of the issue exceeded the WTO, except for various industries. It also includes investment, food safety, labor, smart property and many other details. People speculate that the rules of global trade will be completely rewritten according to the existing leaked terms.

At this time, China is in the midst of the National Day holiday, but this news has aroused strong domestic response.

The prevailing view is that the agreement will force China to spit out the WTO dividend and make China's manufacturing and service gold content fade. As always, the TPP has caused huge controversy in China. One group believes that it should speed up the opening up and join the TPP as soon as possible. This is the welfare of the nationals and the economy. The other group is angry and said that even if China makes a big concession, it cannot stop the US. The mantle is a conspiracy of China. Therefore, it is necessary for China to follow its own pace, instead of being led by the United States and Japan.

Is TPP for China?
Yes. It doesn't make sense to admit it. US President Barack Obama said in a statement against the agreement: "Our more than 95% of our potential customers are outside the country, and we cannot allow countries like China to formulate global economic rules," the basic agreement. On the same day, Obama reiterated that the TPP agreement will give American workers equal rights and opportunities. The United States does not allow China and other countries to write rules for the global economy. Americans have the same treatment they deserve.

Obama mentioned China directly in the interview, saying that the importance of TPP is to ensure the establishment of business management standards in the region. Without such standards and labor, environmental standards and transparency, there is no standard for ensuring that American companies are treated fairly. China will set standards, and American companies and workers will be at a disadvantage." On the TPC website of the US Trade Promotion Agency, there is a detailed analysis of the trade opportunities that the United States will receive, although some people in the United States do not recognize government data.

Turning a blind eye to such clear remarks is an obvious ostrich policy. TPP is a major opportunity to reformulate global trade rules. Rules should be formulated by “we” rather than “they” represented by China. China must keep pace with “we”. What China needs to consider is how once the TPP is implemented, what impact will it have on the current economic order, whether such impacts can be afforded by China, and how many industries, enterprises and employees will be affected.

Does TPP attempt to break through some of the boundaries of sovereign states? Yes.
Some of the secrets published by WikiLeaks contain an ISDS (Investor-state disputesettlement) mechanism that is also highly controversial in the United States. This mechanism ensures that foreign investors and territorial states have disputes with third-party international arbitration institutions (not landlords). National judicial system) to conduct arbitration. There is an article in the Japanese "ASREAD" website that is specially interpreted and called "the United States will not lose" clause. In the United States, there are concerns that arbitral institutions usually adopt a black box mechanism and move closer to the interests of investors and consortia, and veto the laws and even legislation of the landlord countries to obstruct the legislation and implementation of the health and environmental laws of the host country. The above Japanese article quoted Japanese domestic scholars as saying that similar foreign capital may need to be reorganized in terms of legal provisions such as water sources and border protection in Japan.

Once the agreement is signed, the relevant laws of the landlord country give way to third-party international arbitration, the independence of the legal system is eroded, and countries follow a unified arbitration principle. If countries can make concessions on this issue, it means future Internet information and trade development. The rules and laws are thoroughly connected, and international multinational corporations will become third-party forces that keep pace with the state.

Is there a way for China to break through? Have.
China can sign a free trade agreement that is close to zero tariffs. Bai Ming, deputy director of the International Market Research Department of the International Trade and Economic Cooperation Institute of the Ministry of Commerce, said: "In the 12 member countries of the TPP, Singapore, Vietnam, Brunei and Malaysia have established free trade relations with China under the framework of the China-ASEAN Free Trade Area. Australia, New Zealand, Peru, Chile also have bilateral free trade agreements with China. For example, the China-Japan-Korea Free Trade Area negotiations are smooth, leaving only the United States, Mexico and Mexico in the NAFTA." Earth people know that China and the United States are conducting BIT negotiations. This negotiation is as important to China as the TPP.

The transformed China has its own particularity. All of them are based on national welfare. If the TPP clause is suitable for China, it may be acceptable. If it is not suitable, there is no need to force it. Stopping subsidies for zombie companies is beneficial to China, and information opening is beneficial to China. Why not? If it turns out that the RMB capital project market is now completely liberalized, the risks are uncontrollable and it is not necessary to put them all out. Without the success of economic transformation, there is no national welfare. For China, TPP is nothing.

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