The former senior vice president of the World Bank, Justin Yifu Lin, said on Feb. 28 that China should participate in the Trans-Pacific Partnership (TPP) and that the United States and other nations in the Pacific region should welcome the idea as well.
"China will be the major trading partner for TPP members. Without China, it is incomplete," Lin said.
Our sister paper China Times said Beijing has been open-minded regarding the US-led regional trade pact but has shown no determination to become a member. Lin, however, answering questions during a seminar in Beijing on Feb. 28, urged China to join the TPP as soon as possible.
"China is now the biggest trading country in the world and the second-biggest economy. There is a great chance that the country will become the biggest economy by 2020, so it goes without saying that China should take part in this organization," Lin said.
Lin also mentioned Taiwan, his place of birth, and said that a rising China would offer a great chance for Taiwan to revitalize its economy.
"Politics, I would say, is the major factor that slows down Taiwan's economy, and it is now trailing behind South Korea," Lin said. "If China can keep up the rate of 8% economic growth every year over the next 20 years, I think Taiwan should take good advantage of this."