TPP talks crippled by inherent problems
Updated: 2013-10-08 11:00
(Xinhua)
|
|||||||||||
BEIJING -- Member states of the Trans-Pacific Partnership (TPP) wrapped up a three-day ministerial meeting Sunday in a rather low key on the Indonesian resort island of Bali.
In sharp contrast to the fanfare and media frenzy about the TPP in some member countries three days ago, the gathering, parallel to a ministerial meeting of the Asia Pacific Economic Cooperation, ended hastily without any substantial progress.
The disappointing result was mainly caused by the regional trade agreement's inherent problems, such as Washington's dominance and inequality among its members.
Prior to the meeting, some media reports predicted that TPP member states might reach consensus "in principle" at a later summit, but that prospect was overshadowed by the abrupt absence of US President Barack Obama due to his government shutdown.
It seems that the TPP, widely considered as an important part of the Obama administration's "Pivot to Asia" policy, is unable to function properly without the US leader.
The TPP talks are seen as a free trade negotiation with the highest threshold, covering 21 different areas, such as tariffs, trade facilitation, government procurement, intellectual property right protection and e-commerce.
Currently, TPP members have yet to reach basic consensus on most of the areas, which are too sensitive to be resolved by technocrats. Heads of state have to find a solution based on their political judgement and compromise.
However, Obama's abrupt absence made emerging and developing economies participating in the talks, which are dissatisfied with the U.S. dominance in the trade agreement, less likely to make early concessions.
Parties to the TPP talks are also APEC members. The TPP and other regional free trade negotiations should integrate rather than undercut each other.
Just as APEC members put it in a joint statement of their ministerial meeting, APEC should continue to excise strong leadership and play a major role in the region's economic integration.
Related Stories
APEC leaders converge on economic growth 2013-10-08 08:38
Business delegates thank APEC for boosting trade 2013-10-08 08:38
APEC 'should take lead' in FTA talks 2013-10-08 08:28
Chinese business circle pledge involvement in APEC 2013-10-08 08:28
Xi hails APEC's role in open world economy 2013-10-08 08:28
Today's Top News
Global expansion: Too fast?
China, Russia co-work for security in Asia-Pacific: Xi
Animal welfare to be added in training
Talks 'can help Chinese banks' in UK
Robust home sales during holiday
APEC 'should take lead' in FTA talks
Beijing targets polluting cars
China warns US, Japan, Australia over sea issues
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
No crisis of character |
Xi visits Indonesia, Malaysia, attends APEC Summit |
National Day holidays around the world |
Foul air rises over landfill expansion |
Flowing colors of 798 art district |
Investing a nation's wealth wisely |