Malcolm Turnbull's hope that Donald Trump might be persuaded to do a U-turn and support the Trans-Pacific Partnership appears doomed, after the President-elect officially announced he will quit the trade pact.
The imminent retreat by the US opens up a big opportunity for rising rival China to fill the void in the Asia Pacific region, both economically and strategically.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
