Economics
The Chinese Can Cut Trade Deals, Too
In TPP’s wake, the pacts may be more political than economic.
This article is for subscribers only.
For President Xi Jinping, it was a much-needed victory. On Nov. 9, Australian lawmakers approved a free-trade agreement with China, overcoming local union opposition.
Xi has made such agreements a major part of his strategy to expand China’s influence. Most of the deals have been with small countries in emerging markets, making the Australia pact all the more significant. Xi may soon get another boost, with South Korea likely to approve a trade pact.