China rises up to challenge US global hegemony

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China rises up to challenge US global hegemony

Everyday we find out more on America’s troubles. Internationally she is a pariah state. Hate by most and despised by all, they are sitting in wait to find her weaknesses to pounce upon them at the right time.

She is constantly being challenged in areas where she once enjoyed unrivaled power and influence. She is being forced to cede power in many spheres. Her efforts to maintain her grip are not in the least working for her.

Now, everywhere where she has enjoyed power, she is suffering challenge after challenge and disgrace. This is because she is falling and the whole world sees it and understands it!

Int’l Trade Standards Should Be Set by All States, Not US Alone

All countries in the world should take part in international trade standards building, not only the US monopoly to do it, the Chinese Foreign Ministry said.

BEIJING (Sputnik) — All countries in the world should jointly agree and set international trade standards, there should not be a US monopoly in the sphere, the Chinese Foreign Ministry said.

On Monday, US President Barack Obama said that the Trans-Pacific Partnership (TPP) deal would allow the United States to lead the way in global trade, adding that a Chinese-led Regional Comprehensive Economic Partnership (RCEP) demonstrated the need for the TPP to be approved by the US Congress.

“The United States is very ambitious making such statements, but I’m afraid it does not take into account the long-term prospects. The international trade standards should be determined by all countries of the world together, not dictated by a single country,” Foreign Ministry spokesman Hong Lei told a press briefing.
He added that China was open to the TPP, as this deal and the RCEP can complement each other in the process of establishing a free trade area in the Asia-Pacific region.
The TPP agreement was signed by 12 nations in February 2016, but still requires approval from the US Congress. If implemented, the free trade agreement will encompass 40 percent of the global economy. Critics of the TPP claim that it undermines domestic companies, laws, regulations and institutions through an extra-judicial process that stacks the deck in favor of multinational corporations.

The RCEP is a proposed free trade agreement between the 10 member states of the Association of Southeast Asian Nations (ASEAN) — Brunei, Burma, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, as well as six states with which ASEAN has free trade — Australia, China, India, Japan, South Korea and New Zealand.

About half of the RCEP members are TPP members as well.

Read more: http://sputniknews.com/world/20160503/1039001761/china-trade-standards-us.html#ixzz47clzGXA4

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