Mexico looking to China as Trump dumps TPP

Mexico said on Tuesday the Trans-Pacific Partnership (TPP) could form the basis for bilateral trade deals between signatories, and saw a bigger role for China on world trade after US President-elect Donald Trump vowed to withdraw from the accord. Mexico’s Economy Minister Ildefonso Guajardo, said if Washington stepped back from free trade, it would open the door to China. “If one power exits a space, you can bet another will step in,” he told reporters at an event in Mexico City, according to Reuters. Chinese President Xi Jinping also attended the APEC meeting, where he told the world “here we are” on free trade and pledged to keep opening its economy to other countries, Guajardo said. Mexico has said it wants to press ahead with TPP regardless of whether the United States ratifies the 12 nation accord.