In a sign of the pressure that will be brought to bear on the opposition as it considers its stance on the just-released FTA, the Australian Manufacturing Workers’ Union warned Labor against making a pragmatic decision to offer its overall support.
After 10 years of negotiations, the China-Australia Free Trade Agreement (ChAFTA) will be signed on Wednesday and the text will be released on Thursday.
The government has decided to earmark 1.7 trillion won ($1.53 billion) over the next 10 years to mitigate damage to local industries from free-trade agreements with China, Vietnam and New Zealand expected to take effect this year.
The South Korean government said Friday that it has asked the parliament to ratify the country's bilateral free trade agreement (FTA) with China that was signed earlier in the week, apparently demonstrating its firm resolution to quickly implement what it has called one of the most significant trade deals it has ever signed.
"If the new Asia Infrastructure Investment Bank goes ahead and TPP fails .... perception-wise it will hurt in the leadership contest for the Asia-Pacific," a Japanese government source told Reuters.
In Sold Down the Yangtze, investment treaty expert Gus Van Harten offers a searing critique of Canada's 31-year investment deal with China, which could end up costing taxpayers billions of dollars.
Chile's ambassador to China said the Free Trade Agreement (FTA) talks during Chinese Premier Li Keqiang's visit to Latin America will cover several new areas, including e-commerce, government purchases, and financial services.