SECOND TAKE
BLOOMBERG OPINION: US defeatism on Chinese trade is unaffordable
However loudly US politicians vow to compete with China, they seem happy to quit the field and let Beijing win in one crucial area: trade. If President Joe Biden hopes to build a coalition in Asia to counterbalance China’s rise, he cannot afford such defeatism.
US allies such as Japan are especially eager to see the US join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) — the 11-nation free-trade agreement that in its original form was intended to cement US ties to Asia. Yet administration officials continue to dodge questions about the deal. At the same time, China has begun exploratory talks on its own possible accession...
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