Ma Jun, chief economist with the People's Bank of China, and Xiao Mingzhi, anothereconomist, examined the "opportunity costs" of excluding China from the TPP, not only forChina but also others. They found the opportunity costs for South Korea and Japan-the twocountries export heavily to China-is 1.5 percent and 0.6 percent of their GDP, respectively.However, the European Union, Singapore and Vietnam would benefit from China's absence