Well, my great preference is through universal multilateral organizations such as the World Trade Organization. Now, I think the World Trade Organization has its defects. I think it has reflected too much the interests of the western industrialized countries and has not reflected the interests of the poorer countries.
The Trans-Pacific Partnership was a political initiative of the Obama administration. They really want to pivot away from Europe and do some kind of encircling of China, or develop some privileged commercial relations with countries other than China. They're trying to ensure that China does not use its Asian base to become a world hegemonic power. It's a political discussion more than a trade discussion, I think.