ASEAN, China, other partners sign world's biggest trade pact
Source: AP
By ELAINE KURTENBACH
China and 14 other countries agreed Sunday to set up the worlds 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 Vietnams 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 ASEANs 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.
Read more: https://apnews.com/article/global-trade-summits-coronavirus-pandemic-asia-east-asia-00e9be01d98abe6663af4e80dc2a1772
sandensea
(21,712 posts)ripcord
(5,553 posts)China is actively stealing from several of these countries in the South China Sea, do they really expect them to honor trade agreements?
ancianita
(36,212 posts)Grimelle
(219 posts)Bernie, the mofo, fucked us up. He pushed to the point that Hillary had to back away from her support of the TPP.
Trump played with China and Russia for his own benefits. The country never mattered to him. He did it for money.
Bernie did it out of spite and for power.
Yall might want to check the TOS. You will get alerted on for a post like this.
Dont shoot the messenger.
bluestarone
(17,104 posts)NOT GOOD here!!