China has just joined forces with more than a dozen countries across the Asia Pacific region to sign a huge free trade deal nearly a decade in the making.
The Regional Comprehensive Economic Partnership spans 15 countries and 2.2 billion people, or nearly 30% of the world's population, according to a joint statement released by the nations on Sunday, when the deal was signed.
Their combined GDP totals roughly $26 trillion and they account for nearly 28% of global trade based on 2019 data.
The deal includes several of the region's heaviest economic hitters aside from China, including Japan and South Korea. New Zealand and Australia are also partners, as are Indonesia, Thailand and Vietnam in Southeast Asia.
Read more ....
WNU Editor: Is this a huge win for China? Not really .... Asia’s Massive New Trade Deal Is No Big Victory for Beijing (WSJ)
More News On Fifteen Asian-Pacific Countries Signing The World's Largest Trade Deal In Terms Of GDP
‘A coup for China’: Analysts react to the world’s largest trade deal that excludes the U.S. -- CNBC RCEP set to supercharge the New Silk Roads -- Asia Times
Five RCEP takeaways: Asia cements grip as free trade torchbearer -- Nikkei Asia Review
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