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Supachai Panitchpakdi: TPP would be a 2nd-best outcome for Asia

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Delegates involved in the Trans-Pacific Partnership trade negotiations meet in Lahaina, Hawaii, on July 28.   © Kyodo

We are witnessing an unprecedented phenomenon in the postwar history of world trade. For the last four years, GDP has uncharacteristically outpaced growth in trade volume. As trade has always been a key driver of global growth, the contraction of its share in gross domestic product could put the brakes on future economic expansion.

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