(Sijia Jiang – South China Morning Post)
The proposed Free Trade Area of the Asia-Pacific (FTAAP), which includes China and the United States, would one day render APEC redundant, according to the latter's executive director, Alan Bollard.
The FTAAP, which will contain all of the Asia-Pacific Economic Cooperation's 21 member economies, is the most extensive plan for Asia-Pacific economic integration to date, far exceeding the membership of two other regional blocs also in the works: the Trans-Pacific Partnership (TPP) and the Regional Comprehensive Economic Partnership (RCEP).
The US-led TPP, which includes Japan and 10 other APEC countries but excludes China, seeks to eliminate tariffs and is aimed as the biggest free-trade agreement for the US. Click here to read more.