Prime Minister Shinzo Abe said Tuesday that roadblocks to implementation of the U.S.-led Trans-Pacific Partnership (TPP) could shift attention to another envisioned regional free trade pact that includes China, but not the United States.
"There's no doubt that there would be a pivot to the Regional Comprehensive Economic Partnership (RCEP) if the TPP doesn't go forward," Abe told an Upper House committee deliberating on the ratification of the TPP after a related bill passed the Lower House last week.
"RCEP doesn't include the United States, leaving China the economy with the largest gross domestic product," Abe said of the regional market opening pact that has been under negotiation since 2013.