Assessing RCEP: Asia’s new trade agreement

November 19, 2020

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On November 19, David Firestein spoke with Voice of America’s Lori Lundin about the significance of the Regional Comprehensive Economic Partnership (RCEP), the world’s largest trading bloc covering nearly a third of the global economy. RCEP was formally announced on November 15 and is made up of 10 Southeast Asian countries, as well as South Korea, Japan, Australia, New Zealand and China, but excludes the United States.

Firestein explains the potentially significant impact of RCEP on the United States, why it is not part of the pact and the possible approach president-elect Biden may take towards international trade. He also discussed immediate confidence building measures that the United States and China may exercise in a way to restore relations between the two countries.

(The segment starts at the 11:52 minute mark.)