A Cost Benefits Analysis of the Trans-Pacific Partnership Agreement（TPP）： A Chinese Perspective

    Abstract: From the outset of negotiations, TPP claimed to have the goal of realizing a comprehensive, high-quality “21st Century” free trade agreement. In reality, TPP will not help to enhance economic relations in the Asia-Pacific region, nor will it overcome the “Spaghetti Bowl Effect” faced by the region. A cost-benefit analysis of TPP reveals that while small states may benefit from TPP, for large states TPP offers virtually no economic value. TPP is only a tool for the United States to respond to East Asian cooperation and obtain non-traditional economic benefits. From China’s perspective, developing its domestic market is the best way of overcoming the negative impacts of TPP over the long term; over the medium term, China needs to work with Japan to promote East Asian cooperation to ensure that it can maximize its interests against the background of TPP.

    Author: Shen Minghui is an Associate Professor in the National Institute of International Strategy of the Chinese Academy of Social Science