Author Topic: RCEP: China's response to the US-led TPP  (Read 1276 times)

MCentaur

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RCEP: China's response to the US-led TPP
« on: September 26, 2016, 11:41:52 AM »
China's response to the TPP:

Interaksyon

Quote
RCEP, Beijing's response to US-led trading-bloc, just as bad - CPP
By: Diego Mora, InterAksyon.com
September 25, 2016 7:14 PM


MANILA - The Regional Comprehensive Economic Partnership (RCEP) pushed by China as a response to America's Trans-Pacific Partnership (TPP) initiative, contains similar, possibly worse flaws that will harm Southeast Asian economies, according to the Communist Party of the Philippines (CPP).

And the Philippines, seen in some quarters as possibly inclined to join RCEP because of President Duterte's avowed independent foreign policy, will be acceding to another "disadvantageous neoliberal trade pact" if it casts its lot with RCEP, the CPP said in a critique. The Philippines is deemed a dumping ground for cheap products, mainly because its small industrial base is backward, and Beijing is apparently looking to benefit from this, it added.

Simply put, joining RCEP will simply allow sweatshops of big Chinese firms to flourish in the country, CPP warned.

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