With the US-led Trans Pacific Partnership (TPP) now officially in limbo after President Donald Trump backed out, Asian markets are open for China to dominate. That is the analysis that has dominated the world media in depicting the post-TPP scenario. But for one thing, it fails to quantify the so-called domination and the myriad challenges China is likely to face. Most importantly, it is based upon an unreal perception of the United States’ permanent ‘exit’ from Asia—something that is highly unlikely to happen.

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