Minister Without Portfolio John Deng, center, and other government officials attend a news conference in Taipei yesterday. Photo: Lee Hsin-fang, Taipei TimesThe 11-member trade bloc recommended that Taiwan rush its application after China also applied for membership on Thursday last week. “We can expect a gain of about 2 percent to our GDP if we join the CPTPP, and a negative impact of 0.56 percent if we don’t,” he said. Kung’s modeling assumes that the UK, South Korea, Thailand, Indonesia and the Philippines would eventually join the trade bloc, even if Taiwan does not. “Our models show that CPTPP membership would hit agriculture, and the automotive and auto parts sectors the hardest,” Kung said.

Source: Taipei Times September 23, 2021 15:56 UTC