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Trump's TPP rejection does not make China the natural heir

The world has been quick to draw two conclusions from President-elect Donald Trump's announcement that he plans to pull the U.S. out of the planned 12-member Trans-Pacific Partnership. One is that the move will severely diminish America's influence in Asia; the other, that it is surrendering regional -- and ultimately, perhaps, global -- leadership to China. The first outcome seems highly likely. The second, however, is far from certain.

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