Australia Snubs Obama, Dumps TPP, Opts for China-Sponsored Trade Deal: Mish Proposed Deal

MishTalk

President Obama made a foolish decision to not welcome China in the formation of the Trans-Pacific Partnership (TPP).

It was ludicrous for Obama to leave China out of things. China is the second biggest economy in the world, third if you treat the EU as a block.

Had China been in the deal all along, we may not have seen the ludicrous provision that allowed companies to sue governments. That provision was one of the key reasons the deal failed.

With the election of Trump, TPP is officially dead. China, not the US, will be at the center of a new Asian trade pact.

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