The world’s second-largest economy, China, has filed an application to enter the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which currently includes 11 nations. According to the Chinese Commerce Ministry, it has submitted an application to join the free-trade agreement in a letter to New Zealand’s trade minister, Damien O’Connor. The CPTPP was inked in 2018 by 11 countries including Australia, Canada, Chile, Japan and New Zealand. The economies included in the accord represent nearly half a billion consumers and account for 13.3% of global GDP. The trade agreement is essentially an updated version of
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