Japan Joins Asia-Americas Trade Talks
March 21,2013
Japan's decision to join ongoing trade talks between Asia and North and South America leaves only China among the region's large economies outside the deal to expand markets.
Japanese Prime Minister Shinzo Abe says the Trans-Pacific Partnership (TPP) is a framework for future prosperity in the Asia Pacific.
"Our participation is not just for the benefit of Japan's economy, but rather, for Japan and our allies and the United States to create a new economic sphere," he said.
Japan is joining ongoing trade talks between the United States, Canada, Mexico, Australia, New Zealand, Chile, Peru, Vietnam, Malaysia, Brunei and Singapore.
Most noticeably absent from that group is China, which is already concerned about expanding U.S. commercial, diplomatic, and military influence in the region.
Washington understands China's concerns and is working hard to present the Trans-Pacific Partnership as a trade deal, says Cato Institute analyst Justin Logan.
"It's also very, very much about the rebalancing. It's very, very much about China. It's very, very much about creating a group of countries who get together and talk and have shared perceptions of shared difficulties," said Logan.
Territorial claims
Especially difficulties in the South China Sea, where Vietnam, China, Brunei, and Malaysia have competing territorial claims.
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