from Hotznplotzn@lemmy.sdf.org to world@lemmy.world on 26 Nov 12:53
https://lemmy.sdf.org/post/46277046
cross-posted from: lemmy.sdf.org/post/46275324
China’s aggressive trade stance against Japan appears to kill any chance it has of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership [CPTPP] trade bloc in the near future.
Beijing’s confrontation with Japan over a remark about Taiwan has led to a series of retaliatory blows already hurting the Japanese economy.
But China’s sharp response to new Prime Minister Sanae Takaichi’s frank admission that a Chinese attack on Taiwan might trigger a collective self-defence response could also rebound on the People’s Republic.
China has released its ‘wolf warriors’ and ramped up trade pressure on Japan dramatically, warning its citizens to stay away from Japan, while reimposing a ban on Japanese seafood.
[…]
Japanese artists have had concerts in Beijing cancelled or postponed, […] supposedly because of public dissatisfaction over Takaichi’s remark. Manufacturing giants such as Toyota and Sony also expect “direct blowback” from Beijing […] Chinese airlines cancelled flights on at least a dozen routes to popular destinations such as Kyoto and Osaka last week, according to a report by the [Chinese state-controlled media outlet] South China Morning Post.
[…]
But there are also signs that China will pay a price for its latest display of petulance.
Its acts of economic coercion are almost certain to derail – or add years – to its bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which Beijing applied for in 2021.
The problem for Beijing is the CPTPP requires a very different approach to the ‘trade wars’ that China has launched against trading partners, such as Australia, several years ago.
Members of the trade grouping must meet three criteria known as the ‘Auckland Principles’ – preparedness to meet the pact’s high standards, a record of compliance and adhering to trade commitments, and concensus, with all existing members agreeing to on new countries wishing to join.
[…]
Nations must agree to non-discriminatory dialogue with other members and transparent decision-making, as noted by Australia’s ABC News, which said the latest flare-up has occurred as the 12 “CPTPP members were meeting in Melbourne to assess new membership bids.”
“On the eve of those discussions, one member state is being economically punished by the country seeking entry,” it said. “That creates a structural problem for China: CPTPP enlargement requires unanimity. And Japan holds a veto.”
[…]
The idea of Japan permitting China to join the CPTPP now is “almost unthinkable,” the ABC report said, not only because of its coercive trade actions, but other factors, such as its behaviour in the East China Sea.
[…]
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