Because existing trade terms mean 80% of TPP members’ exports to the U.S. are already duty-free while even a bigger percentage of China’s manufactured goods enjoy that status, the agreement’s bottom-line impact on trade is negligible for now. The deal is more about who gets to write the long-term rules of global governance, which for China is both a challenge and an opportunity to reshape its economy in the direction it was going anyway.

Open to insiders and restrictive to outsiders, as they lower trade barriers among member economies, regional FTAs tend to build higher trade barriers against non-member economies. Often tools for working around loopholes in the WTO, such regional agreements buck the trend toward globalization.

For China and the United States, a new type of economic and trade relationship with each other is in the best interest of the two major powers, and they should work towards this end. That will require Washington to view the new TTP through the lens of its best economic interests, and join China in creating the world’s largest free-trade zone by around 2030.

It is hard to avoid the U.S.-China bipolar narrative, although this over-simplistic analysis misses other measures of global power and insecurity. Xenia Wicket argues there is no single paramount power, but a variety of nodes of state and non-state actors.

China’s “One Belt, One Road” initiative would create multiple economic corridors encompassing more than 60 countries Asia, North Africa and East Africa, linking the most dynamic East Asia Economic Zone with the advanced European Economic Zone. Intraregional free trade and infrastructure funding will enable more efficient circulation of currency and culture.

Supporters of the Trans-Pacific Partnership say the trade deal would help counter China’s influence over the Pacific, but that argument is flawed. China’s dominance is inevitable.

Whether or not the struggling talks produce an agreement soon, the US and China do not need to be defensive about the TPP. Instead, they should open an obstruction-free channel for dialogue, through which both countries can use anticipatory diplomacy to enhance mutual trust.

Thanks to misguided stories about President Xi’s reforms, America risks losing the opportunity to participate appropriately in China’s massive economic rebalancing and reform drive.

Whether or not the struggling talks produce an agreement soon, the US and China do not need to be defensive about the TPP. Instead, they should open an obstruction-free channel for dialogue, through which both countries can use anticipatory diplomacy to enhance mutual trust.

Washington’s goals in the Trans-Pacific Partnership may have been economic at first, but the most recent negotiations suggest the trade agreement has become a tool of the US ‘pivot to Asia’. A symptom of its quest to contain China, it’s an unworthy goal for the US – and it’s doomed to fail.