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(YaleGlobal) - The Trans-Pacific Partnership, negotiated by 12 nations, could account for one third of all global trade. But so far, China is not included even though the country is a top trade partner for most of the participants and the world’s leading economy when accounting for purchasing power parity. TPP would eliminate tariffs and reduce non-tariff barriers. China would prefer reducing those tariffs by finalizing the Doha Round under the World Trade Organization rather than setting up a new trade group with new rules. But Doha remains an unfulfilled promise as nations cannot reach an agreement on ending subsidies for their agricultural industries. “A multilateral deal [like Doha] is the most cost-effective legal framework available to ensure non-discriminatory trading terms for all, in particular for the smallest and poorest groups,” writes Shuaihua Cheng, managing director of ICTSD China, International Centre for Trade and Sustainable Development. “It is fundamentally essential to foster inclusive globalization, without which abject poverty gives rise to terrorism and crime.” - YaleGlobal 
 

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