Is the US losing its lead in Pacific Trade to China?

Eurocentric thinking can distort perspectives in the changing world of trade.

Washington (Brussels Morning)The world of trade is changing, both in the Atlantic and the Pacific. While the United States has long been seen as a stakeholder in European affairs — not least because of NATO — Japan’s legitimate interests in Europe are often underreported.

Japan is one of the biggest foreign investors in both the UK and in Europe. Margaret Thatcher encouraged Japanese companies to use the UK as a launch pad to Europe, resulting in accumulative investments of 81 billion pounds in the UK economy. Just recently, Japan’s Ambassador to the UK, Koji Tsuruoka, warned that a disorderly Brexit could see Japanese companies looking elsewhere to base their operations.

In the meantime, the EU-Japan Economic Partnership Agreement, which entered into force on 1 February, 2019, is likely to result in tighter economic ties with the Single Market. In fact, Japan could well become a major destination for European Foreign Direct Investment since Japan could offer a launch pad for European business seeking an entryway into the Pacific economy.

The United States first brokered and then failed to ratify the Trans Pacific Partnership (TPP), leaving such traditional allies as Japan, New Zealand, South Korea, and Australia to build a high-standard, normative framework trade area. Investment in the US is no longer an obvious choice for accessing the Pacific Market.

In November 2020, a second “oute

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Third Round Debate on Saturday November 20, 2021

Turkish lira collapse piles misery on northern Syria

Pydipaka families: and then there were ten

Only political will can turn this rising tide of homelessness

Why Russia’s Invasion of Ukraine Matters

Hong Kong police raid Apple Daily, arrest executives under national security law

Covid19 Emergency: A few words about public support

Road Traffic in Tunisia: a Public Health Emergency

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Brussels Morning Newspaper

Brussels Morning Newspaper

More from Medium

Introducing the Smartwatch for Women: The Perfect Accessory for the Modern Woman

Dissident in ’20-’21 — Yuri Landman

Metauniverse of M2E: BikeRush