US economic statecraft adrift as China seeks to join mega Asian trade deal

China's decision to formally seek to join the Comprehensive and Progressive Trans-pacific Partnership (CPTPP), the world's most important Asian trade deal, presents the U.S. with an enormous set of economic and diplomatic challenges. China joining CPTPP would deal a significant blow to U.S. economic statecraft and further strengthen Chinese leadership in the Indo-Pacific. Taiwan's recent announcement that it also wants to join CPTPP further complicates the picture. The CPTPP is what was left of the original U.S.-led 12 nation deal the Trans-pacific Partnership (TPP) that was a priority under Presidents Bush and Obama, but which President Trump pulled the U.S….