What are the advantages and disadvantages if China participates in TTP?

May have a certain degree of adverse impact on China's economy. As the TPP is dominated by the United States, it has the characteristics of fully open market, high degree of trade liberalization including service industry, wide scope of negotiation in different industries and strict negotiation schedule, so it is difficult for China to directly participate in the negotiations of the sponsors. This means that, after the negotiation of the sponsors, China's accession must face the severe examination and difficult negotiation process of the existing members, and it is less likely to become a TPP member in the short term. Therefore, China's economy will be adversely affected by trade diversion effect. However, there are not many TPP members whose economies are large enough to occupy China, Japan and the United States. China has signed free trade agreements with most of these countries. If substantial progress is made in China-Japan-Korea Free Trade Area and China-Australia Free Trade Area, the trade diversion effect of TPP will have limited impact on the economy.

For China, I think the following measures should be taken: First, pay close attention to the in-depth study of TPP, and explore the possibility of its sponsors joining the negotiations and its countermeasures; The second is to speed up the negotiation process of China-Australia existing free trade area, actively promote the research and negotiation of China-Korea, China-Japan-Korea free trade area, and minimize the impact of TPP trade diversion effect; The third is to express China's own concerns in the Sino-Japanese economic dialogue, emphasizing the importance of preventing the regional mechanism from becoming complicated and consolidating and expanding the existing cooperation results; Strengthen cooperation with Japan in promoting the construction of China, Japan and South Korea and 10+3 free trade zones, and take more active measures; Fourth, actively advocate adhering to the principle of inclusiveness in the construction of Asia-Pacific trade liberalization mechanism; Emphasize that some flexible arrangements should be given to small and weak economies and underdeveloped countries; To prevent excessive liberalization standards from excluding these economies from the regional cooperation mechanism, they will suffer the impact of trade diversion effect, thus further aggravating the "North-South imbalance".