Commentary
Yukon Huang, Isaac B. Kardon, Matt Sheehan
{
"authors": [
"Yukon Huang"
],
"type": "legacyinthemedia",
"centerAffiliationAll": "dc",
"centers": [
"Carnegie Endowment for International Peace"
],
"collections": [],
"englishNewsletterAll": "asia",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie Endowment for International Peace",
"programAffiliation": "AP",
"programs": [
"Asia"
],
"projects": [],
"regions": [
"East Asia",
"China"
],
"topics": [
"Economy",
"Trade"
]
}
Source: Getty
In The Media
Developing Countries Take the Lead in Trade Liberalization
China is giving more consideration to the possibility of joining the Trans-Pacific Partnership.
By Yukon Huang
Published on Jul 9, 2013
Source: Channel News Asia
The process of reforming and opening up the Chinese economy has accelerated under the new leadership, said Carnegie's Yukon Huang, speaking on Channel NewsAsia. The reappointment of Zhou Xiaochuan as central bank director sends a positive signal in this regard, and specific policies to liberalize interest rates, encourage more capital inflows, and open entry to foreign banks have already been introduced.
With respect to trade liberalization, Huang said that perspectives on the Trans-Pacific Partnership deal are shifting in China. Beijing realizes that of the three major trade agreements under negotiation (the TPP, the ASEAN-led Regional Comprehensive Economic Parternship, and the U.S.-EU Transatlantic Trade and Investment Partnership), the TPP discussions are most advanced and have potentially important impacts on international trade norms. Several sensitive issues that are of interest to China are being negotiated in the TPP, including treatment of state-owned enterprises, government procurement policy, and labor and environmental standards.
It was previously thought that China was not ready to move on these issues, Huang said, but leaders in Beijing increasingly realize that every country has sensitive trade issues. He cited the example of protected agricultural sectors in Canada, the United States, and Japan, all members of the TPP negotiations. Developing countries are much more inclined to support open trade regimes than they were a decade ago, Huang added. This gives China more confidence to enter the TPP, as its policies are no more restrictive than others and it is even more keen on open trade.
About the Author
Yukon Huang
Senior Fellow, Asia Program
Huang is a senior fellow in the Carnegie Asia Program where his research focuses on China’s economy and its regional and global impact.
- Three Takeaways From the Biden-Xi Meeting
- Europe Narrowly Navigates De-risking Between Washington and BeijingCommentary
Yukon Huang, Genevieve Slosberg
Recent Work
More Work from Carnegie Endowment for International Peace
- Who Puts Guardrails on AI?Commentary
Why governance of rapidly evolving technology will be distributed and complex.
Stewart Patrick, Scott Singer
- The U.S. and China Need an AI Hotline. Here’s How to Build It.Commentary
It should address the shortcomings of previous crisis communication efforts and adapt to the demands of frontier AI.
Lucy Luo
- China’s Construction of Police Training Facilities in Global South Likely to Expand Global Security LeadershipResearch
China’s police training infrastructure construction projects provide benefits to recipient countries, promote China’s image as a major global security provider, and are likely to reinforce alignment between Beijing’s security priorities and those of countries in the Global South.
- +2
Cameron Waltz, Sheena Chestnut Greitens, Kim Nguyen, …
- What Would Need to Happen to Slow AI Development?Commentary
AI capabilities are moving fast. Most institutions—including governments—can’t keep up.
Anton Leicht, Scott Singer
- BIS in the New Age of Import ControlsCommentary
The Bureau of Industry and Security needs to adjust its focus and practices to maintain its position as the U.S. government’s primary champion of international technological competition.
Geoffrey Irving
