China Sees a Chance in TPP to Quicken Reforms

Because existing trade terms mean 80% of TPP members’ exports to the U.S. are already duty-free while even a bigger percentage of China’s manufactured goods enjoy that status, the agreement’s bottom-line impact on trade is negligible for now. The deal is more about who gets to write the long-term rules of global governance, which for China is both a challenge and an opportunity to reshape its economy in the direction it was going anyway.

He Yafei Vice Minister, Overseas Chinese Affairs Office of the State Council via CHINA US Focus http://ift.tt/1jDxd2T