After eight years of tough negotiations, November 15 saw a breakthrough for regional cooperation as 15 Asia-Pacific nations signed the biggest free-trade deal in history. Comprising the 10 Asean members, Australia, China, Japan, New Zealand and South Korea, the Regional Comprehensive Economic Partnership (RCEP) will reduce trade barriers across a third of the world’s population and economic output area.
Economists at Johns Hopkins University estimate the pact could add US$186 billion to the global economy – a welcome boost as we face the worst recession in a century…
To read more: https://www.scmp.com/comment/opinion/article/3110828/rceps-synergy-chinas-economic-strategy-bodes-well-asia-pacific
SOURCE: SCMP
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RCEP
