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| Image: Flickr User - U.S. Department of State |
By Shihoko Goto
The Trans-Pacific Partnership may not prove the force stability many assume.
Trade deals always produce losers as well as winners, so it is no surprise that there is growing concern that the Trans-Pacific Partnership (TPP) agreement will not be ratified by all 12 member countries. But if it does come into force, the seemingly unshakeable assumption is that the TPP will be the foundation for continued U.S. engagement in Asia, and that it will ensure stability in a region increasingly riven by nationalism, territorial disputes, and militarism.
For now, U.S. legislators are rightly focused on the harm as well as the benefits TPP could bring. Among those expressing skepticism about the economic benefits of the TPP are Senator Orrin Hatch, chairman of the powerful Senate Finance Committee, and it is not certain that Congress will even pass the TPP, even with Trade Promotion Authority in place. Certainly, as the U.S. presidential elections gear up, the benefits and demerits of a mega-trade deal will become a hot-button issue.
But even as the pros and cons in each sector are weighed, the White House will undoubtedly remain resolute about the security implications of the TPP. Touted as the economic component of a broader U.S. rebalance to Asia, the TPP has been pushed by the Obama administration as key to ensuring strategic U.S. ties to Asia, a framework that will ensure sustainable U.S. engagement in the world’s most populous and economically vibrant region.
However, there is reason to worry that the trade deal may actually lead to increased tensions in the region, and not just between Washington and Beijing. This in turn would complicate rather than strengthen U.S. strategy in the region.
Read the full story at The Diplomat