Q&A

The partnership initially began as the Trans-Pacific Strategic Economic Partnership Agreement (TPSEP) in 2005 which was signed off by Brunei, Chile, New Zealand and Singapore. In addition, Australia, Canada, Japan, Malaysia, Mexico, Peru, the United States and Vietnam also joined the partnership in 2008 which brought the number of participating countries to 12. The initial idea of the partnership was free trade, however, China seems to be having a hard time facing domestic market competition even before moving on to the next step. It will be necessary for China to break up its own State Owned Enterprises to fully enjoy market access to other potential partners.