US exit from TPP paves way for PRC influence—G. Nataraj, Institute of Public Administration, India - a podcast by Asian Development Bank Institute

“The US exit from the Trans-Pacific Partnership (TPP) has paved the way for the People’s Republic of China (PRC) to dominate and have a greater influence in the Asia-Pacific region,” said Geethanjali Nataraj of India’s Institute of Public Administration at a recent Asian Development Bank Institute seminar.

Japan has picked up the baton and is trying save the TPP, without the US, and is open to inviting the PRC and the Republic of Korea, initially excluded from the negotiations, to join late-stage talks. Some members are shifting back to bilateral deals with the US.

The Asian economic region is scrambling to build alternative multilateral and bilateral trade agreements, but none will have the consensus of or be as comprehensive and expansive as the TPP.

One that is growing in popularity is the PRC’s “One Road One Belt” initiative, a 21st century land and sea Silk Road linking Asia through Central Asia to the European Union, and expected to involve 60 economies accounting for 40% of global GDP.

It is a centerpiece of the PRC’s foreign policy and timed to be in place by 2049, the country’s centenary.

Economists say it will relieve the pressure of overcapacity on the PRC’s economy by allowing it to spread its production base and bypass protectionism by importing and exporting finished products.

Read the transcript
http://bit.ly/2vZMdSY

Watch the complete presentation
https://youtu.be/a-GMkiRYctU

Know more about ADBI’s work on the TPP
http://bit.ly/2xb3lEH

Further episodes of Asia's Developing Future

Further podcasts by Asian Development Bank Institute

Website of Asian Development Bank Institute