Undo hide post
Third Secretary at Mexican Embassy in Australia

Australia is at a crossroads. The withdrawal of the United States from the TPP created a vaccum that will be very difficult to fill, even if trade between the remaining member states does grow in volume and value. Meanwhile, China's position in the Asia Pacific region is growing in importance --hence, putting Australia's position at risk. The Australian strategy then, is to join and get itself more involved with countries outside Asia Pacific, and the TPP looks like an ever-more attractive alternative.


Australia is hopeful that the US will join TPP, finance minister says

CNBC fav-icon

Peter Marton Politics
Ph.D. Candidate in Political Science at Central European University
9 months ago

All that has happened in the past decade or so really just strengthens the argument in my mind that the WTO has become... obsolete. The advent of these mega multi-lateral agreements could really lead to an alternative landscape of strong regional International Organizations, perhaps fulfilling the promise of more supranational cooperation for prosperity outside of the Wester World... A shift from globalised governance to regionalized governance?

Hide replies
9 months ago

You are absolutely right. The rise of multilateral trade agreements such as the TPP is a direct response to the inoperation of the WTO. These agreements between like-minded trade partners also include further topics such as human rights, democracy and internet governance, making them as important for international trade as for international politics.