The Heat: RCEP Trade Deal

After eight years of negotiations, fifteen countries formed the world’s largest trading bloc on the sidelines of this year’s ASEAN summit.
It’s called the Regional Comprehensive Economic Partnership, or RCEP, and is made of ten Southeast Asian countries as well as China, the Republic of Korea, Japan, Australia and New Zealand. CGTN’s Rian Maelzer begins our coverage from Kuala Lumpur.

Joining the panel:

John Gong is a professor of economics with the University of International Business and Economics.
John Quelch is the Dean of the University of Miami’s Herbert Business School.
Shihoko Goto is the Deputy Director for Geo-economics with the Asia Program at the Wilson Center.
Sourabh Gupta is a Resident Senior Fellow with the Institute for China-America Studies. 

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[youngzo]

Glad to see countries working together. Making trade and partnerships, not putting up barriers and promoting sanctions and war

[phillipalexandercarr]

amazing collaboration. wonderful cooperation

[samliew]

Congratulations! Very happy for All the RCEPT member countries. Yes! Working together on a win-win situation is the way to go. Let's all live harmoniously and prosper together for a better tomorrow.

[magnaviator]

One of the biggest news story for the year, and not a word in western media..

[beezibee]

Now there is no more need for the American military to station in Asia.

[corrinetsang]

15 countries signed the rcep foe free trade

[mizzypoo]

Watch... SKY NEWS AUS....
starts pouring cold water on trade agreement.
Murdoch must be crying into his finest Brandy..

[reynel]

And USA fighting against all the world hehehehehhhehhe

[nugrid]

I AM grateful. I hope we cam work together on peace and development for all

[ranmasaotome]

This is a good thing similar to the European Union and African Union

[jb]

India has a small group of families and connected people with obscene wealth that benefit from it's protectionist policies hence The Indian government would rather keep this group of families happy than uplift it's Billion plus population out of poverty through trade, that's the real reason why they bailed out of RCEP.

[khanniniah]

It can be said that the concept of RCEP foreshadows the globalisation of ASEAN through multilateral integration and nurturing of its organic growth within Asia. Through RCEP's tentative research and development, new marketing strategies among other lesser nations in ASIA could also be tried, and supply chains abbreviated, thereby eliminating middlemen, long routes and high shipping costs. Could this be the jewel in the crown for China's hegemony in Eurasia and primacy in international trade and commerce?

[JulieN-vr]

Bravisimo Asia Bravisimo, go well Asia all the best for all your Countries.

[高強-cy]

In fact, RCEP brought great news from mainland China and Southeast Asian countries. 15 countries including China and ASEAN formally signed RCEP, and the world’s largest free trade agreement was reached. ️ This free trade agreement of great historical significance demonstrates the advantages of "multilateralism" and "free trade" that bring mutual benefit, mutual contribution and sharing, win-win cooperation, and build prosperity. Everyone's cooperation and win-win must exist as follows The constructive thinking and shared spirit of the company: "It’s not as good as everyone’s pleasure to enjoy it alone", "A single silk does not form a thread, and a single tree does not form a forest." "A single flower does not make a spring, but the garden is full of flowers." The achievement will also help promote the further development of the industrial chain, supply chain and value chain in the region.

After 8 years of negotiations, it was officially signed! The 4th Regional Comprehensive Economic Partnership Agreement Leaders' Meeting was held on November 15. The ten ASEAN countries and 15 countries including China, Japan, South Korea, Australia and New Zealand signed the Regional Comprehensive Economic Partnership Agreement (RCEP). This marks the official start of the free trade zone with the largest population, the largest scale of economy and trade, and the most potential for development in the world, covering a large scale. RCEP was initiated by ASEAN in 2012. After 8 years and 31 rounds of formal negotiations, the agreement was finally signed during this summit. This is the most important achievement in the construction of East Asian economic integration in the past 20 years. RCEP covers 20 chapters, including market access for goods trade, service trade, investment, etc., as well as a large number of rules on trade facilitation, intellectual property rights, e-commerce, competition policy, government procurement, etc., covering trade and investment liberalization and convenience All aspects of globalization.

Modernized agreement. RCEP adopts regional origin accumulation rules to support the development of regional industrial chain supply chains; adopts new technologies to promote customs facilitation and promotes the development of new cross-border logistics; adopts a negative list to make investment access commitments, which greatly enhances the transparency of investment policies; the agreement is also included The high-level intellectual property and e-commerce chapters meet the needs of the digital economy era and are the largest in the world. Statistics show that in 2019, the total population of the 15 member states of RCEP reached 2.27 billion, GDP reached US$26 trillion, and total exports reached US$5.2 trillion, each accounting for about 30% of the global total. The final zero-tariff products in trade in goods Overall will exceed 90%‼ ️

To a certain extent, it can be regarded as the formation of the "New Southeast Asian Economic Association", which will promote the recovery of the global economy and become the locomotive of the future world economic power. The future will be the world of Asia‼ ️🤝👍✌️👏✍️🍾🥂🍺🍻🍸🍷🎉🎊

[satriojumeneng]

Can you imagine if India becomes as big as China.... It means there are 2 "China" in the world and how the US will react ? Even with just 1 "China", Trump already going crazy with tariff.

[yenriver]

why are 2 of the 5 eyes involved while at the same time back

[Ashwantpakhrin]

Because of these deals India's trade deficit will grow more than $100 billion.. No more chinese cheap products dumping in India.. I Request indian govt to put tarrif on chinese imports and chinese origin goods from other countries..

[HeresMyView]

"India don't have the backbone ... " to compete and domestic politics create the barrier. 🤪😄😆 Hilarious. So, India refuse to join RCEP. So obvious. If you don't study hard, don't expect to pass your exam. 😁😁

[corrinetsang]

15 COUNTRIES SIGNED THE RCEP FOR FREE TRADE AND SOUTH AMERICA WANTS TO JOIN

[apexkevv]

India is looking backwards not forward. India is at a loss