China’s decision to formally seek to join the Comprehensive and Progressive Trans-pacific Partnership (CPTPP), the world’s most important Asian trade deal, presents the U.S. with an enormous set of economic and diplomatic challenges. China joining CPTPP would deal a significant blow to U.S. economic statecraft and further strengthen Chinese leadership in the Indo-Pacific. Taiwan’s recent announcement that it also wants to join CPTPP further complicates the picture.
US economic statecraft adrift as China seeks to join mega Asian trade deal (brookings.edu)