Take notice here that Pacific Rim nations are forming an trading alliance that does not include the United States. They are doing this in order to create a hedge against rising Chinese influence in the South China See and environs. You may (or may not) recall that late in the Obama administration there was an effort to create the Trans Pacific Partnership that included all of these countries plus the United States. During the Presidential campaign Democrats were forced to abandon this effort due to reactionary comments from the opposition.
It was not just a trade association but was also a military one in the sense that trade ties make for a larger bully pulpit. One that would be able to counter Chinese influence and their "Silk Road" initiative. But, as is often the case with the United States, petty politics interfered to the detriment of national security.
I sincerely hope that the Biden administration is able to align the United States with these other nations to accomplish the purpose of controlling Chinese hegemony in the Pacific.
This from the Lexington Herald-Leader.
HANOI, Vietnam Asia-Pacific nations are set to sign on Sunday the world’s biggest free-trade agreement at a virtual summit hosted in Hanoi, Vietnamese Prime Minister Nguyen Xuan Phuc said.
“The signing of the regional comprehensive economic partnership tomorrow is a concrete action that shows the determination to cooperate and integrate in the region,” Phuc told regional leaders and businessmen at an Association of Southeast Asian Nations meeting on Saturday.
The Regional Comprehensive Economic Partnership covers 2.2 billion people and 29 per cent of global economic output. Having been negotiated since 2013, it is expected to be signed during an online ceremony on Sunday at the 37th ASEAN Summit in Hanoi.
The world’s biggest trade agreement will include 10 ASEAN member states – Vietnam, Thailand, the Philippines, Laos, Cambodia, Myanmar, Malaysia, Singapore, Indonesia and Brunei – along with Australia, China, Japan, New Zealand and South Korea.
Prior to finalizing the agreement, 31 rounds of negotiations and 18 ministerial meetings took place, while self-imposed deadlines for the deal were missed on six occasions.
