free trade agreement

RCEP summit

The World’s Largest Free Trade Agreement, A Gift To China

The free trade agreement signed this weekend by 15 Asia-Pacific nations, led by China and Japan, will apply to a total population of 2.2 billion and a total GDP of 26.2 trillion, about a third of the world economy. It will also mean a 65% tariff reduction. Definetely, the RCEP (Regional Comprehensive Economic Partnership) further strengthens the growing political and economic influence of China in the region.