RCEP Will Be a Mega Trade Deal: ISEAS-Yusof Ishak Institute

The video discusses the RCEP trade deal, highlighting its significance for economic integration among 15 nations and the political message it sends about commitment to free trade. India's reluctance to join due to concerns over domestic industries and Chinese influence is noted. The potential impact of Joe Biden's presidency on US trade policy, particularly regarding the TPP, is analyzed, with expectations of a return to multilateralism. The video also explores how US-ASEAN relations might evolve under Biden, balancing domestic challenges with international engagement.

Why is India hesitant to rejoin the RCEP agreement?

• It has already signed a similar agreement.

• It wants to focus on bilateral trade agreements.

• It fears negative impacts on its domestic industries.

• It is waiting for a better economic climate.

What is one of the main economic benefits expected from the RCEP agreement?

• Increased tariffs on goods.

• Enhanced economic integration among member countries.

• Reduction in political tensions.

• Exclusive trade rights for ASEAN countries.

What political message does the conclusion of the RCEP carry?

• A move towards economic isolation.

• A focus on bilateral agreements.

• A commitment to open and free trade.

• A shift towards protectionism.

What is the likelihood of the US rejoining the TPP under Biden's presidency?

• Very high, as it is a priority.

• Certain, as it was a campaign promise.

• Moderate, with some conditions.

• Low, due to prevailing anti-free trade sentiments.

What is a major challenge for the Biden administration in engaging with Asia?

• Insufficient economic resources.

• Strong opposition from European allies.

• Domestic challenges within the US.

• Lack of interest in multilateralism.

How do Asian countries view Biden's potential approach to multilateralism?

• With skepticism and doubt.

• With hope for stability and predictability.

• As a threat to regional autonomy.

• As irrelevant to their interests.

What is a key expectation from the Biden administration regarding US-China relations?

• Increased tariffs on Chinese goods.

• A return to isolationist policies.

• Stability and equilibrium in competition.

• Complete disengagement from China.