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U.S. lags behind China in economic performance in Asia Pacific: Bloomberg article

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WASHINGTON, Nov. 13 (Xinhua) — The United States has lagged behind China in terms of economic performance in the Asia-Pacific region, according to a recent Bloomberg report.

The article, entitled “Biden’s ‘America First’ Trade Policy Gives China an Opportunity,” was published by the Bloomberg on Wednesday.

The Joe Biden administration failed to articulate its economic vision for the Asia-Pacific region, nearly five years after former U.S. President Donald Trump withdrew from the Trans-Pacific Partnership (TPP), the report said.

China, instead, has officially filed an application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in September this year.

It also pledged to provide profitable business opportunities for each CPTPP member to access the Chinese market and strive for growth in bilateral trade and investment.

“You have an administration again that is putting ‘America First’ using different language,” Deborah Elms, founder of the Singapore-based Asian Trade Center, was quoted by the report as saying. Enditem