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The CPTPP, originally known as TPP, was designed by the Barack Obama administration specifically to exclude China from a new Asian-oriented free-trade agreement. The current agreement was created in 2018 after Trump pulled the US out in one of his first acts in office.

The TPP also sought to promote universal values such as democracy, freedom and human rights in the form of labor rights and environmental protection. 

A report by the Chinese State Council's Development Research Center noted this week that China must keep modernizing its economy and particularly its state-owned enterprises (SOEs) to better align itself with global trade and commerce standards.

"China must forestall [US President-elect] Joe Biden's bid to reunite allies to close ranks against us and the CPTPP presents a good opportunity for China to pre-empt," said a report examining the pros and cons of China's membership syndicated by China News Service. 

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