Joining high-standard economic / trade pacts such as #CPTPP will be an important strategic move for #China to accommodate itself amid the current changes, says Huang Qifan: mp.weixin.qq.com/s/lBj7m4Usv_M-… 1/6
Joining CPTPP will level up China’s opening-up drive, which will force more in-depth and fundamental reforms. That will reinvigorate Chinese market participants, improve the efficiency of the internal circulation, and step up forming a mature market economy...2/6
Meanwhile, participation in the pact will help China to open up wider and engage more in the international circulation...3/6
Besides CPTPP, Huang also calls for a “#FTA strategy”. Despite the restructuring of the #GVC induced by #covid19, zero tariff, zero barrier and zero subsidy remain the major trends in global #trade...4/6
China needs to base its participation in international negotiations on trade rules on this underlying logic. Playing the zero-tariff card will give it more bargaining power...5/6
The strategic purpose to set up FTAs is to provide a platform for stress test and risk mitigation for the upcoming free trade zone strategy. In the next step, China needs to plan ahead for introducing more pilot free trade zones while empowering and upgrading existing ones. 6/6
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