ASEAN, China, other partners set world's biggest trade pact

[Lady Freedom Returns]

ASEAN, China, other partners set world's biggest trade pact
Published: November 15, 2020


Stars and Strips- China and 14 other countries agreed Sunday to set up the world's largest trading bloc, encompassing nearly a third of all economic activity, in a deal many in Asia are hoping will help hasten a recovery from the shocks of the pandemic.

The Regional Comprehensive Economic Partnership, or RCEP, was signed virtually on Sunday on the sidelines of the annual summit of the 10-nation Association of Southeast Asian Nations.

"I am delighted to say that after eight years of hard work, as of today, we have officially brought RCEP negotiations to a conclusion for signing," said host country Vietnam's Prime Minister Nguyen Xuan Phuc.

"The conclusion of RCEP negotiation, the largest free trade agreement in the world, will send a strong message that affirms ASEAN's leading role in supporting the multilateral trading system, creating a new trading structure in the region, enabling sustainable trade facilitation, revitalizing the supply chains disrupted by COVID-19 and assisting the post pandemic recovery," Phuc said.

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https://www.stripes.com/news/pacific/asean-china-other-partners-set-world-s-biggest-trade-pact-1.652196

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[TreasonousBastard]

1. Mentioned earlier, and this is possibly the death knell for our economic leadership...

Elements of both the left and the right can congratulate each other for the death of the TPP, opening up China to bring everyone together into one big happy family. It's now China, US, EU, and everyone else scattered around. And China is the big dog now.

They even got S. Korea in, which we couldn't do. India dropped out, but they may find themselves looking to get back in if deals with EU don't work out.

Thanks, Donnie Boy-- our dominance would eventually burn out, but you just gave it away.