The Pacific Alliance meeting this week will likely focus on the future of the Trans-Pacific Partnership trade deal after the U.S. departure. With China in attendance there may be some speculation it will join TPP in America’s place. In reality China may prefer to ensure the TPP members sign up to its own RCEP trade deal. Furthermore a U.S. presence at the talks, albeit only at ambassadorial level, may reduce the potential for progress. China’s exports to the TPP group excluding the U.S. fell 5% over the past 12 months on a year earlier, Panjiva data shows. While it runs a surplus with...