In contrast, access to the Chinese market could remain limited.
On the contrary, much evidence shows that China’s market is becoming less welcoming to foreign companies, and China’s market reform has regressed in recent years.
For many countries, joining a U.S.-led free trade order meant gaining access to a huge market for their exports.
The Obama administration had emphatically pushed the TPP as a free trade pact between the United States and major Asia-Pacific economies, in which China was pointedly not included.
Without the participation of the U.S. as a huge export market, however, the trade pact has become less significant.