To tell you the truth, I was very surprised when I heard the news.
I didn’t expect this to be an eight-year-old free trade agreement, and suddenly I was going to sign it.
It was announced on 12 November and is expected to be signed on 15 November.
Yes, tomorrow (Sunday).
Three hours earlier, the ASEAN summit had opened.
If all goes well, the agreement is expected to be signed tomorrow.
Once successfully signed, the world’s largest free trade zone, including China, will soon be established.
The FTZ will cover nearly half (45 per cent) of the world’s population, accounting for 40 per cent of global trade and one third of world economic output.
Arguably, it is an Asia-Pacific version of the European Union.
That year the Obama administration made a TPP, a free-trade zone that excluded China.
This TPP is a big headache for us.
Fortunately, Mr. Trump withdrew from the TPP after taking office.
Now ASEAN and China, Japan and South Korea are about to sign this RCEP, china’s significance is still quite big.
With this RCEP, there’s no longer a fear that Biden will make the TPP when he takes office.
The RCEP is in the run-up to the U.S. election, and it’s a coincidence that the time has come for it to sign up.
— What is RCEP —
RCEP refers to the Regional Comprehensive Economic Partnership
Launched by the 10 ASEAN countries, China, Japan, South Korea, Australia, New Zealand and India are invited to participate (“10 plus 6”), and by reducing tariff and non-tariff barriers, the 16-nation free trade agreement is an organizational form of mutual market opening and regional economic integration among member countries.
But this time there is no India. India temporarily withdrew from the RCEP for various reasons. (With Japan’s support, a back door was left for India, which could return to RCEP unconditionally at any time)
So this time there are 15 countries to sign.
RCEP will significantly reduce tariffs in 20 areas, and will eliminate 61% of ASEAN exports, 56% of China’s exports, 49% of South Korea’s export tariffs, greatly reducing the rate of imports and exports of the agreed countries, in the WTO by the United States, the RCEP is undoubtedly the world’s most competitive free trade zone.
This RCEP forms an internal cycle comparable to that of the world economy.
— RCEP for difficult negotiations —
RCEP, it’s really hard to talk about.
On the face of it, it is the ASEAN-led RCEP, involving China, Japan and South Korea.
In fact, this RCEP is a disguised China-Japan-ROK FTA.
Just to not stimulate America.
The United States is the last country to see this RCEP signed.
Because this is actually a disguised China-Japan-ROK FTA.
The negotiations on the China-Japan-ROK FTA went smoothly that year.
Ready to set up the China-Japan-ROK Free Trade Zone.
The china-Japan-ROK FTA has the same amount of economy as the United States.
would pose a serious threat to America’s economic position and the dollar’s position.
The United States certainly does not want the China-Japan-ROK Free Trade Area to be established.
So Matsasso, Japan’s official in charge, who had just signed a bilateral currency swap agreement with China and Japan in Beijing, died at home.
Hong Kong’s anglers have set off a wave of anti-Japanese fishing on the island.
Sino-Japanese relations instantly fell into a low ebb, China-Japan-ROK free trade agreement is stillborn. Among them, there are frequent signs of Americans medding behind their backs.
The negotiation process for this RCEP has also been very difficult.
After eight years of arduous negotiations, China was silent and suddenly got the big deal done.
It takes only three days from the announcement of the signature to the formal signature.
There is no time to think about it without taking advantage of the pending US election.
This is the first free trade agreement to include China, Japan and South Korea.
China, Japan and South Korea have long wanted to build a three-nation free trade zone, but by the United States, the three countries free trade zone as long as the start of negotiations, Japan and South Korea in charge of negotiations officials will be all kinds of accidents, the Diaoyu Islands will be all kinds of surprises.
This time to reach the RCEP, but also a curve to save the country, so that the important economic integration of China, Japan and South Korea has made a breakthrough.
— END —
All sorts of things that have happened this year.
Let me really believe that the National Transportation in China side.
RCEP is a free trade agreement without U.S. participation.
If successfully signed, the RCEP would significantly reduce U.S. economic and political influence in the Asia-Pacific region.
It is important for China to build regional economic leadership, and even global economic leadership.
But we can’t take it lightly.
The agreement will be formally signed one day.
On November 12, Biden telephoned Japanese Prime Minister Naoto Kan to say that the Diaoyu Islands are the object of Article 5 of the U.S.-Japan Security Treaty.
At this point in time, the Diaoyu Islands, what do you want to do?
Even if the U.S. has 10,000 unwilling people, in just three days, it will be hard to stop the RCEP from signing.
Let’s wait and see tomorrow’s signature.