China ready to capitalise if Trans-Pacific Partnership fails
China is ready to engage with the 11 nations the US has struck trade agreements with if the Trans-Pacific Partnership (TPP) falls through, warns chairman of the Export-Import Bank of the US, Fred Hochberg. He added that the rest of the world was moving quickly to make free trade agreements, with 600 already in place. China already plans to compete against the TPP with the Regional Comprehensive Economic Partnership trade deal with the 10 ASEAN member states and regional trading partners such as Australia, Japan, India, New Zealand and South Korea.
China is ready to "pounce in" to engage with the 11 countries the U.S. has struck a trade accord with, if the Trans-Pacific Partnership (TPP) falls through, a U.S. government official said on Thursday.

Fred Hochberg, chairman of the Export–Import Bank of the U.S., told CNBC of the that the rest of the world was moving quickly on free trade agreements, with 600 already in place.

"We really can't afford to sit on the sidelines and lose out," Hochberg said on the sidelines of the India Economic Summit of the World Economic Forum in New Delhi. "If we don't do TPP, China is ready to engage with them."