Asian Nations Sign World's Biggest Regional Trade Deal

Asian Nations Sign World's Biggest Regional Trade Deal

Assessment

Interactive Video

Business

University

Hard

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The transcript discusses the impact of COVID-19 on global trade and the economic recovery efforts led by various nations, including Australia and Indonesia. It highlights the largest trade deal involving ASEAN countries, China, Japan, South Korea, Australia, and New Zealand, which aims to eliminate tariffs on 92% of traded goods. The transcript also addresses the trade tensions between Australia and China, exacerbated by Australia's call for a COVID-19 inquiry. The trade deal could potentially ease these tensions. Finally, the ratification process and the future steps for the trade deal are outlined, with Singapore expected to approve it soon.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was one of the main reasons India withdrew from the trade deal?

Concerns over farm subsidies

Disagreements over technology transfer

Lack of support from ASEAN countries

Pressure from the United States

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How might the new trade deal benefit Australia in its relations with China?

By reducing tariffs on Australian goods

By increasing Australia's exports to the US

By allowing Australia to impose sanctions on China

By providing a platform for diplomatic meetings

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What has been a significant challenge for Australian goods entering China?

Competition from other ASEAN countries

Lack of demand

Bureaucratic inspections and reviews

High tariffs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What impact does the trade deal have on China's influence in the region?

It diminishes China's influence

It boosts China's influence

It isolates China from other countries

It has no impact on China's influence

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is required for the trade deal to come into effect?

Ratification by six Asian and three non-Asian countries

Approval from all ASEAN countries

Endorsement by the World Trade Organization

A unanimous vote by the United Nations