US-led Asia-Pacific trade alliance designed to create “closer economic cooperation”

Former ASPI chief executive Peter Jennings says he was pleased to see Prime Minister Anthony Albanese sign up for a new US-led Asia-Pacific economic bloc “as fast as he is”, and the alliance should help counter enlargement China in the region.

Mr Jennings said the agreement, which brings together 13 countries in the region, was “good news” for Australia.

“This is not a free trade agreement, but it is designed to try to create closer economic cooperation between countries, to make a modern focus on IT and online business,” he told Sky News host Peta Credlin.

“And indeed, to provide an alternative for these countries, other than the fact that they are increasingly economically dominated by China.”