Agreement was reached on the Trans Pacific Partnership in early October. The TPP is a trade agreement that will eliminate tariffs on thousands of goods and services as well as other barriers to trade between member countries creating a trading block that will be close to the EU in scale. We expect the TPP to boost trade investment and integration between member countries likely at the expense of non members. Notably China is not currently a member of the TPP is this a threat to China's export industries? Perhaps but it may also be an incentive for China to progress its own reform agenda.