Why the New Asia-Pacific Economic Pact Cannot Save the Chinese Economy

ASEAN Secretary-General Lim Jock Hoi and foreign ministers shake hands on stage at a summit between China and ASEAN (Association of Southeast Asian Nations) on the COVID-19 coronavirus in Vientiane, Laos, on Feb. 20, 2020. Dene-Hern Chen/AFP via Getty Images

Commentary

The new Asia-Pacific economic pact cannot help China recover from its export market loss with the United States and growing international isolation. In Chinese leader Xi Jinping’s own words, “The wind is strong, and the tides are high.”