RCEP: 15 Asia-Pacific countries sign world’s largest trade deal

The video discusses the Regional Comprehensive Economic Partnership (RCEP), a free trade agreement involving China, ASEAN countries, South Korea, Japan, Australia, and New Zealand. India opted out in 2019. RCEP covers a significant portion of the global market, surpassing the USMCA and EU in size. It is seen as a diplomatic win for China, contrasting with the Trans-Pacific Partnership, which excluded China and was abandoned by the US in 2017. RCEP includes countries with complex diplomatic ties, such as Japan and Australia, highlighting its strategic importance.

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