It is not clear to me what motivates ASEAN nations to try and forma trading bloc that includes China, while Obama had initiated a similar pact to exclude China. If may be a way of mollifying the strong stance ASEAN had taken regarding the South China Sea disputes. A ‘quid pro quo’ as it were.
NY Times: “Ten Southeast Asian nations said Tuesday that they would begin negotiating a sweeping trade pact that would include China and five of the region’s other major trading partners, but not the United States.
The proposal for the new trade bloc, to be known as the Regional Comprehensive Economic Partnership, is enthusiastically embraced by China. The founding members, who belong to the Association of Southeast Asian Nations, said at the close of the association’s summit meeting here that the bloc would cover nearly half of the world’s population, starting in 2015.
The new grouping is seen as a rival to a trade initiative of the Obama administration, the 11-nation Trans-Pacific Partnership, which includes many of the same countries but excludes China.”
via Southeast Asian Nations Announce Trade Bloc to Rival U.S. Effort – NYTimes.com.
Related articles
- * Southeast Asia calls for talks with China on sea dispute (chindia-alert.org)
- Asia’s Top Economies Aim for Trade Deal as Sea Dispute Set Aside (bloomberg.com)
- Southeast Asia’s leaders meet amid tensions (thehimalayantimes.com)
- Obama to Meet China, Japan Leaders as Sea Spats Threaten Trade – Bloomberg (bloomberg.com)
- Asean nations feud over South China Sea (rightways.wordpress.com)
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