China about to pull off ‘diplomatic coup’ by striking world’s largest free trade agreement

The Regional Comprehensive Economic Partnership (RCEP) is expected to be announced at the Association of Southeast Asian Nations (ASEAN) Summit, which Vietnam is hosting virtually. It will involve the ten member states of the ASEAN bloc – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – as well as their trade partners Australia, China, Japan, New Zealand, and South Korea.
The new economic bloc will thus represent around a third of the world’s gross domestic product and population.
It will become the first-ever free trade agreement to include China, Japan, and South Korea – Asia’s first, second and fourth-largest economies. One of the original partners, India, said last November that it would not participate in the negotiations due to concern that opening up its market would cause its trade deficit with China to grow.
Be the first to comment.
Blogger's note: subterrnews.blogspot.com does not send cookies, or collect any information on those using the blog. However, the blogspot is on google, and google may collect information, and send cookies. Many of the links that we connect to do not send out cookies or collect information, but some do. You are keying in to this blog, and you have agreed to this.
The views expressed in the articles do not necessarily represent the opinions of this blog. They are the views, and opinions of the author(s) of the article.
0 comments:
Post a Comment