President Trump’s withdrawal from TPP means it technically cannot come into force – countries with 85% of the group’s GDP must sign. That has left the others to decide what happens next. Mexico wants bilateral deals, while Australia would like to replace the U.S. with China. A simple rule change could allow the current deal to proceed. More likely is that China will encourage the six TPP members that are also negotiating RCEP to sign up to that deal instead. Four of the six (Japan, Australia, Malaysia and New Zealand) have an annual $42 billion trade surplus vs. China, giving it...
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