Economic complementarity, lower shipping costs and the upcoming Regional Comprehensive Economic Partnership (RCEP) will substantially expand bilateral trade between China and the Association of Southeast Asian Nations this year.
Stepping into the role that the United States could have had at the helm of TPP, Beijing has offered a deal that puts it firmly in a leadership role. Through RCEP, the future of the broader Asia-Pacific economy has a diminished role for the United States.
China’s economy is expected to grow this year, it is capable of generating the jobs and trade needed for recovery, and looks ready to lead. In contrast, the US economy is shrinking and champions of free trade and investment are lacking.
Opening a long-pending multi-modal transportation corridor via Iran will be a big boost for bilateral trade between Russia and India, but it’s not just the economy at stake. This is a bold move against the threat of US sanctions.
The Trump Administration has called on the Morrison Government to extend its "step-up" strategy in the Pacific to South-East Asia, as Washington grapples with China’s rising regional influence.
The fact that China, Japan and South Korea (CJK) engaged in an agreed-upon trilateral summit framework, and bilateral dialogues on the sidelines, was no small achievement given heightened tensions between the three countries.
For New Delhi, though, RCEP is first and foremost an economic deal that could hurt its more vulnerable industries and lead to near-term pain.
Conflict over trade dominated the economic headlines in 2019, so it’s surprising that the year ended with significant progress on three trade agreements.Each tells a different story about the outlook both for the global economy and for relations between nations.
As with many other countries, Pakistan’s FTA with China has had a devastating impact on its domestic SMEs. Beijing and Islamabad have a strategic partnership, but the Chinese remain cutthroat competitors in trade.
This level of annual spike in imports from Singapore has been unheard of despite the existence of the FTA for around 14 years now.
Abe seeks to bolster India ties to balance China’s clout.
The EAEU is shopping for partners in Asia. Middle finger to the West or sound trade policy?
When it comes to critical raw materials, the Commission is exploring fair trade agreements with Africa, Australia and Chile while the Canada-Europe trade deal could be a boon for sourcing nickel and rare earths.
China aims to press ahead with 15 remaining RCEP members. Japan had sought to balance China by involving India.
India has viewed FTAs as an important tool to enhance its trade and investment, and signed a number of trade agreements with various countries or groups. And India’s experience intrade with its major FTA partners has not been very encouraging.
A free trade deal with Iceland has an important benefit: It’s part of a broader plan to boost America’s presence in the Arctic region as a bulwark against Russia and China.
After the Regional Comprehensive Economic Partnership (RCEP) made substantive progress, it is now time for China to consider joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Japan and New Zealand to work toward expanding the existing 11-member trans-Pacific partnership free trade pact as they seek further economic and regional integration in the Indo-Pacific.
While there are clearly roadblocks to an agreement, there are also tailwinds — tailwinds that might never be stronger than they are right now.
High growth has granted the country global relevance but others may not support us if they don’t see an economic upside.