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  1. #1
    Thailand Expat David48atTD's Avatar
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    RCEP: Asia-Pacific countries form world's largest trading bloc



    Fifteen countries have formed the world's largest trading bloc, covering nearly a third of the global economy.


    The Regional Comprehensive Economic Partnership (RCEP) is made up of 10 Southeast Asian countries, as well as South Korea, China, Japan, Australia and New Zealand.

    The pact is seen as an extension of China's influence in the region.

    The deal excludes the US, which withdrew from a rival Asia-Pacific trade pact in 2017.


    President Donald Trump pulled his country out of the Trans-Pacific Partnership (TPP) shortly after taking office.

    The deal was to involve 12 countries and was supported by Mr Trump's predecessor Barack Obama as a way to counter China's surging power in the region.

    Members of the RCEP make up nearly a third of the world's population and account for 29% of global gross domestic product.


    The new free trade bloc will be bigger than both the US-Mexico-Canada Agreement and the European Union.





    RCEP: Asia-Pacific countries form world'''s largest trading bloc - BBC News

    Also ... Asia forms world'''s biggest trade bloc, excluding U.S.
    Someone is sitting in the shade today because someone planted a tree a long time ago ...


  2. #2
    Thailand Expat

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    They have made the same basic mistake as the EU. Including those countries which are still 3rd world and developing countries simply means that, major economies like Japan and China, will continue to grow manufacturing in cheap labor countries like Cambodia, Vietnam and Laos, (other poor countries are available).
    Interesting that it is currently described as an Economic partnership. Is political harmonisation on the back burner?
    Like the overly ambitious EU, it fails to recognize that one size does not fit all, but gives more advanced economies a larger market.
    Never mind, at least Filipinos won’t have travel to the Middle East in order to scratch a living and send money home. They can stay home and work for peanuts now.

  3. #3
    Thailand Expat
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    Ardern and her leadership are happy about hitching their cart to the China-horse . . . while watching how Australia is being targeted and decimated by China. Idiotic move

  4. #4
    Thailand Expat harrybarracuda's Avatar
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    Biden will resurrect the TPP or join this I'm sure.

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