China applies to join Pacific trade pact to boost economic clout

The US, Britain and Australia have announced to form a new alliance against China’s increasing aggression. This agreement, named AUKUS, will protect the interests of these three countries in the Indian Ocean and the Pacific Ocean. Under this, America and Britain will give advanced weapons to Australia. Not only this, America will also share the technology to make nuclear-powered submarines to Australia. With the coming together of these three countries, China has also become alert. China has adopted a trade policy to find a cut for AUKUS.

China wants to increase presence in Pacific Ocean
According to the BBC report, China has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) deal to strengthen its presence in the Asia Pacific region. The great thing is that America had established this partnership to end China’s growing clout. But, in 2017, Donald Trump pulled America out of this partnership.

Chinese minister confirmed
China’s Commerce Minister Wang Wentao has also confirmed the application of his country to this partnership. He said the world’s second largest economy has sent an application to New Zealand’s trade minister Damian O’Connor for a free trade agreement. New Zealand handles the administrative work of the CPTPP agreement. In such a situation, if any country has to join or leave this agreement, then it will have to talk to New Zealand itself.

What is China’s benefit from CPTPP?
China wants to grab America’s place after its exit from the CPTPP agreement. If China joins it, then it is obvious that it will have exclusive control over the trade through the Pacific Ocean. Not only this, China has the largest economy among the countries involved in this agreement. In such a situation, China is going to benefit the most. At present, apart from military power, the strength of the economy determines the world order.

How CPTPP was started
During the tenure of Barack Obama, China was rapidly increasing its trading activities in the Pacific Ocean. For this reason, on the initiative of Obama, an economic alliance named Trans-Pacific Partnership (TPP) was started. In 2017, Donald Trump pulled the US out of the deal, calling it useless. After which it was given the current name of CPTPP under the leadership of Japan. 11 countries of the world have signed this trade deal.

Which countries are members

  1. Australia
  2. Brunei
  3. Canada
  4. Chile
  5. Japan
  6. Malaysia
  7. Mexico
  8. New Zealand
  9. Peru
  10. Singapore
  11. Vietnam

China furious over the agreement between America, Australia and Britain

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