http://the-japan-news.com/news/article/0002474350ATLANTA (Jiji Press) — The Trans-Pacific Partnership free trade deal by 12 countries is expected to benefit Japan by not only creating a huge economic zone in the fast-growing Asia-Pacific region but also putting a brake on China’s rise in the region.
Under the TPP pact, which has yet to be ratified by each member country, the easing of regulations on investment and government procurement is seen to allow Japanese companies to make greater inroads into the Asia-Pacific markets, while the abolition of high tariffs on industrial products being imposed by countries such as Malaysia and Vietnam is likely to lead to the expansion of Japan’s exports. As a result, the Japanese economy may be able to regain its strength, pundits said.
The TPP, for which a broad accord was reached by ministers of the member countries at their meeting in Atlanta that ended on Monday, is expected to act as a damper to China’s aggressive maritime expansion backed by its military might. Furthermore, the multilateral deal may work to block the world’s second largest economy from controlling the Asia-Pacific markets, they noted.
