November’s APEC meeting was arguably the highlight of the Chinese calendar this year, with Beijing playing host to the world’s leaders. With international media also descending on the Chinese capital, AP reporter Joe McDonald spoke to CKGSB Professor of Economics Li Wei to get his thoughts on a proposed new free-trade deal among APEC countries in the face of resistance from the US.
The APEC series of meeting in Beijing in November were among the highest profile events on the calendar this year, with China playing host to the world’s leaders. During the session, Chinese President Xi Jinping promoted a free-trade deal among APEC countries despite pressure from the US, with the US instead keen to promote the Trans-Pacific Partnership (TPP), despite progress on that front having seemingly hit a roadblock.
Senior business reporter from the Associated Press (AP), Joe McDonald, spoke to CKGSB Professor of Economics Li Wei on the topic to discuss the implications of China’s efforts to promote their own trade deals as a logical reaction to being excluded from the TPP. From the article:
“If the U.S. doesn’t want China to join the TPP, then China can form its own trade groups,” said Li.
Li also pointed to limits on access to U.S. markets for some Chinese technology companies such as Huawei Technologies Ltd., a maker of network switching gear, on security grounds.
“The world, with the U.S. leading, is retreating from free trade. It is moving into protectionism,” said Li. “If the U.S. is saying, I should be careful about who I have free trade with, then China should take a more liberalizing role.”
Due to AP’s extensive distribution network and the popularity of the topic, the original article received dozens of reposts across top-tier outlets including The Washington Post, The Huffington Post and Fox News, in addition to many other local and national outlets in places as varied as the US, the United Arab Emirates and the Philippines.
To read the original AP article in full, please click here.