 | In a couple of weeks, as I write here in South East Asia, we'll be glad to discover more detail on what exactly China has promised the United States in Phase One of their trade deal. And, as scepticism has grown since it was signed in mid January, it really ought to spell out how Beijing will bring in laws to crack down on intellectual property theft, how a dispute resolution mechanism is to work, and more detail on the $200b spending spree on US goods the Chinese have promised. |
It could also do with telling us when tariffs between the two sides will be reduced. Progress seems to have been made. But much remains to be done, and what has been done seems lacking in detail and scope.
In the meanwhile, many are worried about a sense of stagnation in Washington's thinking. Opportunities have been squandered in rebalancing America's trade with China - by building relationships with others.
In the meanwhile, many are worried about a sense of stagnation in Washington's thinking. Opportunities have been squandered in rebalancing America's trade with China - by building relationships with others.
| Specifically, you’d think American companies would be looking elsewhere in Asia for partners : to buy from, and to sell to. That’s happening, but not nearly at the scale you would think. China is showing no such hesitation. It’s roping in its near neighbours in South East Asia as never before, and re-inking the map of trade flows - excluding the United States. |  |
It has switched-on investors like Sasha Bernier despairing at his country’s relative absence in a dynamic part of the world, and still its “back yard”.
Sasha is making money for the family behind Cheltenham Enterprises in New York City - by investing in developing but vigorous economies like Vietnam, the Philippines, and Indonesia.
The irony is that these nations wanted a close relationship with the USA - and so they signed up to the Trans-Pacific Partnership.
Take a look at the White House description of the TPP here - now gathering dust.
Take a look at the White House description of the TPP here - now gathering dust.
As Sasha Bernier points out, the TPP could also have offered Washington a way of settling some of the trade issues it has with China - by providing a grouping of similar-minded partners in pressing Beijing to address issues that they care about too : like those intellectual property rights and, especially, hidden subsidies.
Sasha also advises the Indonesian Consulate in New York about developing relationships with US firms and investors. He told me that, too often, folks back home aren’t reaching out…
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Sasha also advises the Indonesian Consulate in New York about developing relationships with US firms and investors. He told me that, too often, folks back home aren’t reaching out…
(There may be a pause before audio plays)
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