APEC Set for Trade Battle as US Prez Lands in China Today

  • The ongoing Asia-Pacific Economic Cooperation (APEC) summit got ready for an intense FTA battle with the two countries pushing for different versions of free trade agreements.
  • China is shadow-boxing the US-driven Trans-Pacific Partnership (TPP) with its own version called the Free Trade Area of the Asia-Pacific (FTAAP).
  • Obama, who is politically weakened after the Republicans won control over the US Congress, may have to battle to preserve the influence of the TPP against the Chinese campaign.
  • Chinese President Xi Jinping played his hand on Sunday , extending his idea of “Asian dream“ to the Asia Pacific region to cover countries in and around the Pacific Rim.
  • The increasingly close connection between Asia-Pacific economies has made regional economic integration all the more necessary and urgent.
  • The implicit promise is that China would invest funds to become the key mover in the region.
  • Beijing is thus striving for a China-centric Asia Pacific and a reduction in American influence.