(2011-11-09)
Political scientist Christopher McNally of the East-West Center says the U.S. Congress would probably not approve the agreement if China were included, at least for now. But Vietnam has joined the talks, and he notes that Vietnam is making the same transition. He says APEC is a good forum to reach limited agreements that involve only some of the member nations.
"It's a venue where leaders can get together to discuss facilitation of trade, investment and other economic issues within the Asia-Pacific. But, agreements that are binding tend to be forged at a smaller level because it's very difficult to get all 21 economies to agree on one issue," noted McNally.
... Analyst McNally says American trade agreements are more complex than China's and typically deal with issues other than trade.
"They also include environmental standards, they include labor standards. The include also product standardization, things like that," said McNally.
He says Chinese agreements focus on such basic issues as reducing tariffs and quotas and harmonizing customs standards.
-- Also appears in: Chosun Ilbo, Journal of Turkish Weekly, Middle East North Africa Financial Network