US President Barack Obama believes the rules of trade in the Asia-Pacific must be written by America, not China and called for a swift ratification of the controversial TPP free trade deal.
“America should write the rules. America should call the shots. Other countries should play by the rules that America and our partners set, and not the other way around,” Obama wrote in a piece published by the Washington Post.
The US president was defending the Trans- Pacific Partnership (TPP), signed in February by 12 Pacific Rim nations. The US legislators are yet to ratify the deal. Obama wrote it must be done as soon as possible.
The Chinese foreign ministry spokesman Hong Lei answered to Obma’s remarcs during a daily news briefing in Beijing. He noted that China’s Foreign Ministry believes that global trade rules should be discussed by all countries, not just set by one.
China has an open attitude towards TPP, however it should be promoted together along with the Regional Comprehensive Economic Partnership (RCEP), ministry spokesman said.