Best to get the TPP done right, not done fast

A demonstrator protests against the legislation to give US President Barack Obama fast-track authority to advance trade deals, including the Trans-Pacific Partnership, during a protest march on Capitol Hill in Washington, DC, 21 May 2015. (Photo: AAP)

Author: Richard Katz, Oriental Economist Report

Unless the Trans-Pacific Partnership (TPP) trade talks are concluded soon, they risk dragging on interminably. If that happens, the United States’ capacity to function as a benign world hegemon will be diminished.

To avoid this, the White House is determined to get the pact signed and ratified by the end of 2015. Read more…

What the AIIB can learn from World Bank shortcomings

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Author: David Dollar, Brookings Institution

To understand the impetus for launching the Asian Infrastructure Investment Bank (AIIB), look no further than China’s concern that the governance structure of existing international financial institutions was evolving too slowly. An important agreement to increase the resources of the International Monetary Fund and to raise the voting shares of fast-growing emerging markets, ratified by other nations, has been stalled in the US Congress. Read more…

A new vision for China–Australia relations

Chinese President Xi Jinping and Australian Prime Minister Tony Abbott walk together as they leave the House of Representatives at Parliament House in Canberra, 17 November 2014. (Photo: AAP).

Author: Stuart Harris, ANU

Australia’s foreign policy has been a mix of positives and negatives under the Liberal-National Coalition government, as was true of the previous Labor government. Former prime ministers Gough Whitlam and Bob Hawke recognised the need for Australia to think strategically about future regional developments, and John Howard’s thinking gradually moved in that direction. Read more…

How will Japan’s new agriculture minister influence the TPP negotiations?

Author: Aurelia George Mulgan, UNSW, Canberra

Japan’s new Minister of Agriculture, Forestry and Fisheries (MAFF) Yoshimasa Hayashi, who previously served in the position in 2012–14, was a logical choice to take over from his disgraced predecessor Koya Nishikawa. He arrived at the Prime Minister’s Office (Kantei) only five minutes after Nishikawa left, and was apparently selected because he was ‘the only one that could immediately do the job’. Read more…

What the TPP portends for Japan–Australia agricultural trade

Akira Amari, Japan's minister in charge of the Trans-Pacific Partnership trade negotiations, attends a meeting of trade chiefs from 12 countries involved in the negotiations in Sydney on 25 October 2014. (Photo: AAP).

Author: Aurelia George Mulgan, UNSW Canberra

Australia’s farmers, particularly beef producers, may have celebrated too early when the Japan–Australia Economic Partnership Agreement (JAEPA) took effect on 15 January 2015. The deal may be gazumped by another that is taking shape between Japan and the United States in the Trans-Pacific Partnership (TPP) negotiations. Read more…

Vietnam’s economy steady as it grows

A bicycle stands in rice fields in Vietnam. (Photo: AAP).

Author: Suiwah Leung, ANU

The Vietnamese economy has stabilised but is growing below trend. In 2014, the economy relied principally on manufactured exports. The government seems to be pushing on with structural reforms of state-owned enterprises (SOEs) and the banking sector. But it remains to be seen whether its current efforts will be sufficient to restore economic growth in time for the country to transform itself into a high-income industrialised economy in the longer-term future. Read more…

Is bigger better for ASEAN in a mega-regional world?

This photo shows a view of a container port in Singapore. Singapore is part of negotiations in both RCEP and the TPP, two mega-regional deals involving ASEAN countries. (Photo: AAP)

Author: Razeen Sally, NUS

Big-block trade agreements or ‘mega-regionals’, revolving around one or more major powers, are the latest trend in trade policy negotiations. ASEAN is involved in two: the American-led Trans-Pacific Partnership (TPP) and the Chinese-led Regional Comprehensive Economic Partnership (RCEP). Read more…