China, Taiwan, the UK and the CPTPP: Global Partnership or Regional Stand-off?

Description

Originally called the Trans-Pacific Partnership until the USA withdrew in 2017, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is an ambitious and wide-ranging free trade agreement between eleven Pacific countries. Far from faltering after US withdrawal, several more countries have since applied to join, including China, Taiwan and the United Kingdom. Some observers see in this a contest between China and the USA for wider influence through an attempt to control or re-write the rules of international trade; at a minimum accession by any of the three would have a major impact on the CPTPP as originally envisaged. This edited volume considers the three applications, the motivations for the three to join, and the likely responses of existing members. The implications for cross-Strait tension between China and Taiwan are fully considered, as is the ability or willingness of the USA to influence the outcome of the applications. Contents Notes on Contributors List of Figures List of Tables 1 Introduction Notes References 2 CPTPP Membership for Taiwan: Rationales, Challenges, and Outlook Introduction The Rationales of CPTPP Membership for Taiwan Economic Importance The Impetus for Regulatory Reform Global Supply Chain Reform and the Value of CPTPP Unique Opportunity Rationale Challenges and Outlook The CPTPP Process The China Conundrum Challenges Concerning the Level of Readiness Conclusion Notes References 3 Not a Fast Pass for China at CPTPP Introduction Chapters and Verse CPTPP’s Trade Appeal to China Elephant in the Room The Politics of China’s Membership Conclusion Notes 4 Regulatory Constraints and the Political Economy of the UK’s Joining the CPTPP Introduction The UK’s Motivations for Joining the CPTPP Limited Economic Impact of Joining the CPTPP for the UK Regulatory Constraints and Societal Implications Regulatory Divergence Between the Asia Pacific and the UK as a Former EU Member Digital Trade Food Standards and Safety Conclusion Notes Bibliography 5 Perspectives of CPTPP Membership Expansion and Its Implications on a Shifting Paradigm of Economic Integration in Asia Pacific Introduction UK as the First-Perspective New Member of CPTPP China’s Membership at the CPTPP Taiwan’s Membership at the CPTPP Conclusion Appendix: Liberalized and Non-Liberalized Bilateral and Multilateral Free Trade Agreements of the CPTPP-11 and the First Three Applicants Notes References 6 Australia’s Perspective on the Applications from the UK, China, and Taiwan to Join the CPTPP The Evolution of Australian Trade Policy Australian Trade Policy in the 2020s Australia–UK Relations Australia-China Relations Australia–Taiwan Relations Expanding the CPTPP The May 2022 Australian General Election Conclusions Notes References 7 Gatekeeper’s Dilemma: Japan Facing CPTPP Applications from China and Taiwan Introduction Politics of Free Trade Agreement Enlargement Japan's Road to the CPTPP with the US Lead and China as a “Shadow” Negotiator China's Interests in the TPP Taiwan Factor In the Gate-Keeper's Dilemma Japan Between the US and China: Economic Gains Versus Economic Security Maintaining the CPTPP Standards: Accession and Enforcement of Rules Conclusion: Balancing the Pros and Cons: Gate-Keeper's Dilemma Notes References 8 Divergent Interests for Taiwan’s CPTPP Bid from Washington and Tokyo A Trade Deal as a Means as Well as an End Bending to U.S. and Japanese Pressure for Liberalization Cashing in the Chips Limited Window of Opportunity for Global Presence IPEF and the Unknown Coordination on Economic Security Maximizing the Window of Opportunity Beyond CPTPP Notes 9 Not Quite Déjà Vu All Over Again: CPTPP Accession and Taiwan–China–US Relations Introduction Taiwan China United States A Protracted Contest Over an Elusive and Shrinking Prize? Notes References Index