On September 16, China formally submitted a request to accede to the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) trade agreement. This was not surprising news, but it was still big news. The CPTPP is the survivor to the American exit from the original Trans-Pacific Partnership (TPP) at the behest of former U.S. President Donald Trump. The reconfigured trade grouping retained the ambitious targets for tariff elimination and high standards on trade and investment liberalization. From its inception, the TPP project has anticipated welcoming new members both to increase its economic heft and to disseminate quality rules for economic integration. Acceptance of the CPTPP’s extant disciplines is required of all prospective members.
China moves to join the CPTPP, but don’t expect a fast pass (brookings.edu)