The World’s Biggest Trading Bloc Does Not Include the United States

Ecumenics without churchs by www.quaccheri.it

26.11.2020 – Asia-Independent Media Institute

The World’s Biggest Trading Bloc Does Not Include the United States

By Vijay Prashad and John Ross

On November 15, 15 Asian and Pacific countries signed anagreementknown as the Regional Comprehensive Economic Partnership (RCEP) that unites 30 percent of the global population and 30 percent of global gross domestic product (GDP). The entire trade area, which runs from New Zealand to Japan and across the length of China,bringstogether a range of industries, from mining to high tech, and 2.2 billion consumers. Around 90 percent of tariffs will be cut, and customs procedures will be simplified.

It is significant that China is at the heart of this agreement. From 2005 to 2015, many of these countries had negotiated the Trans-Pacific Partnership (TPP), which was a process driven by the United States toisolateChina from the Pacific Rim countries. U.S. President Donald Trumpwithdrewhis country from the TPP, which mothballed…

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