It’s Time to Negotiate a New Economic Relationship with China

Without the TPP or other regional trade initiatives, and with no comprehensive talks going on at the WTO, the best way for the United States to promote market liberalization in China is to go directly to China and negotiate bilaterally on issues related to Chinese restrictions on trade and investment. In the past, there have been discussions between China and the United States on a number of issues, but most of these talks have been merely “dialogues” that did not lead to concrete results. What is needed instead is a formal negotiation that leads to enforceable commitments. With so many trade and investment issues to address, the task of negotiating may sound daunting, but keep in mind that other countries have already completed deals with China. Australia and New Zealand both have free trade agreements with China, signed in 2015 and 2008 respectively. In addition, Canada completed an investment agreement with China that entered into force in 2014 and has announced that it would explore the possibility of trade negotiations as well.

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