This will create a free trade area (FTA) embracing China, ASEAN, Australia, India, Japan, south Korea, and New Zealand. These are early days in the development of a program conceived to span three or more decades. And Japan has announced its own $110 billion infrastructure investment fund for Asia.Â The justification for this Japanese fund is geopolitical rivalry with China. The US remains the worldâs dominant military power and largest economy, but wants to pull back from some of its commitments and focus on the contest with the rising power. China joining CPTPP would boost Asia-Pacific economic integration.