Sorry, But China Won’t Replace America As The Leader Of Free Trade Any Time Soon
This article explains why China won’t replace the US as the leader of free trade. I found it interesting that it’s less about how powerful China is and more about its transparency. The following point demonstrates how important foreign diplomacy is and that acting out of self-interest isn’t always really in a country’s self-interest.
“China’s exclusion from the TPP was not based on the West’s desire to thwart its rise as an economic power or to hold back its cross-border trade. The issue was, and still is, China’s objective of promoting its own self-interest at the expense of its trading partners and the greater rules-based trading system.”
For now, no one country will be the leader of free trade.