If TPP Fails, China Takes Advantage
The administration of U.S. President Barack Obama is moving into its final three months in office and the trajectory of one of its signature foreign policy initiatives — the U.S. "rebalance" to the Asia-Pacific — remains unclear.
Washington's inability thus far to ratify the Trans-Pacific Partnership (TPP) trade deal — a 12-country deal that encompasses nearly 40 percent of the world's gross domestic product — has its friends and partners in the region concerned about its long-term commitment to the Pacific.
In August, Singapore's Prime Minister Lee Hsien Loong bluntly referenced this unease during his trip to Washington: "For America's friends and partners, ratifying the TPP is a litmus test of your credibility and seriousness of purpose [in the Asia-Pacific]."
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