Trend of globalization will continue without Trump-led America

Although Donald Trump's attitude toward world trade and trade organizations remains uncertain, the trend of trade liberalization in the Asia Pacific region will not lose its momentum, a former US trade official has said.

In a recent interview with the Sino-US.com, Wendy Cutler, former acting deputy US trade representative, expressed confidence in the prospects of free trade in the Asia Pacific region regardless of Trump's withdrawal from the Trans-Pacific Partnership (TPP), saying that the trend of globalization will never come to a halt.

Commenting on a recent Office of the US Trade Representative (USTR) report submitted to Congress, in which the USTR said that the rulings the World Trade Organization (WTO) made based on its dispute settlement mechanism would harm American interests, Cutler pointed out that it will still take some time to figure out what Trump's trade policy really is.

Cutler, who is also vice president of the Asia Society Policy Institute (ASPI), felt shocked about the US withdrawal from the TPP, which was widely seen as an international trade agreement that can serve the global trade.

However, Cutler is bullish on the realization of the regional economic integration in the Asia Pacific region, saying that the countries in the region could use for reference the high standards of the TPP that needed to enhance the level of trade liberalization.

Cutler said that the American firms could benefit from international trade and the American consumers could enjoy cheaper commodities because of globalization. She also said that the foreign investment in the US would bring more job opportunities.

According to Cutler, China-led "Belt and Road" initiative could serve as a new opportunity for the US and China to strengthen their economic and trade cooperation.
 


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