The key global economies met in Brisbane for the Group of 20, following recent summits for ASEAN, East Asia and the wider Asia-Pacific region. These are not just about politics but growth, trade and investment. In our region, a range of agreements are under negotiation with varying and overlapping memberships. Most notable is the Trans-Pacific Partnership (TPP), which is led by the United States and includes Japan, but notably has left China out.
The newest proposal from China’s President Xi Jinping may eclipse them. While hosting the Asia-Pacific Economic Cooperation (APEC) summit, he has ambitiously raised an even bigger and more inclusive Free Trade Area of the Asia Pacific (FTAAP) and set this in the context of China’s “Asia-Pacific Dream”.
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