China's Political Challenges in Joining the Trans-Pacific Trade Pact
China's application to join the Comprehensive Progressive Trans-Pacific Partnership (CPTPP) poses political challenges for member countries, as the trade pact was initially created to counter China's economic influence. While technical standards may not be insurmountable, the decision to allow China's entry will ultimately be political, with all members having veto power. China's desire to join the CPTPP stems from its economic performance and the potential for domestic economic reform. However, hurdles include China's state-owned enterprises, intellectual property rights, data sovereignty laws, and ongoing trade disputes with member countries. The political tensions between China and certain member countries, such as Australia, further complicate the decision-making process. Additionally, the possibility of the U.S. reconsidering its withdrawal from the CPTPP adds another layer of complexity.