Beijing’s new RCEP free trade area in the tense Pacific region should benefit Beijing.
The world’s largest trade treaty entered into force on 1er January. The global regional economic partnership, says RCEP, counts fifteen countries of East Asia and the Pacific among the richest (Japan, Australia, China…) and the poorest (Laos, Cambodia…) of the region. The negotiations, which had dragged on for eight years, were successful at the end of 2020 under pressure from Beijing and without India. Fearing to be invaded by Chinese exports, the latter preferred to withdraw.
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This treaty, which covers nearly a third of the world’s population and GDP, plans to eliminate 90% of customs duties in ten or twenty years. He could “boost exports within the new alliance by nearly 2%, or $ 42 billion», Calculates the UNCTAD, a UN agency. China, Japan and South Korea should be the big beneficiaries, especially because the other members are already often linked by agreements.
The RCEP will bring in particular to Beijing “a…
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